raw materials
World Bank: Energy prices will remain high in 2022
According to the World Bank, energy prices will only fall in the second half of next year. Photo: Hauke-Christian Dittrich / dpa
© dpa-infocom GmbH
How will energy prices develop in the next year? Now the World Bank has presented a report on the commodity markets.
According to the World Bank, the sharp rise in energy prices will remain high in the coming year and thus cause inflationary pressure around the world.
Economic growth could also shift in part from energy importers to producers, the World Bank said in a report on raw materials markets. According to this, energy prices are only expected to fall again in the second half of the coming year, given a better supply situation and slower growth in demand.
“The rise in energy prices poses a significant risk to global inflation in the short term and, if continued, could also weaken growth in countries that import energy,” said World Bank economist Ayhan Kose. The rapid rise in raw material prices could complicate the recovery from the corona crisis. The inflation rate has increased significantly in Germany, the euro zone as a whole and also in the USA.
The World Bank warned that prices for natural gas and coal could continue to rise in the short term given low inventories. Production, for example through additional gas production in the USA, will only increase significantly again in the coming year, which will then lead to a weakening of prices.