Prices of minerals, ores and metals further rocketing in February 2026, though at slightly reduced pace
Year-on-year change in UNCTAD Commodity Price Index by commodity group, percentage
UN Trade and Development, UNCTADstat.
The index has been modified in September 2025 to now only take data from sources accessible through automated online extraction routines, leading to (in general) small differences in the index values. For more information, see the related methodology note. The tables of individual commodity prices have been discontinued.
The UNCTAD Commodity Price Index was 8.8% higher in February 2026 than a year earlier. The sub-index of minerals, ores and metals continued rising rapidly (+58.6%), however at a slightly slower pace than in January. This strong growth was partly offset by declines in prices of food (-10.8%) and fuels (-9.5%). Prices of agricultural raw materials remained almost stable (+0.3%).
The 9.5% decrease of fuel prices, year-on-year, hides a substantial drop of natural gas prices, which plummeted by 32.5%, while prices for oil and coal increased.
Due to their continued increase, prices of minerals, ores and metals reached a new record high, scoring nearly three and one half times as high as ten years ago.