Addis Ababa, Ethiopia (May 2022)
According to the World Bank’s report, The crisis in Ukraine has disrupted supplies and resulted in historically high prices for a variety of commodities. Most commodity prices are likely to rise sharply in 2022 and remain high for the medium term.
Energy prices were more than four times higher in March 2022 than they were in April 2020, marking the greatest 23-month increase in energy prices since the 1973 oil price spike.
The price of Brent crude oil is projected to average $100/bbl in 2022, a 40 percent increase from 2021.
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