Skip to main content

The World in 2023: The outlook for commodity prices

We think most commodity prices will ease back in early 2023, at the height of the global recession and monetary tightening in many major economies. That said, we expect a relatively shallow recession and the US Federal Reserve to be in easing mode by Q4, which should give a renewed lift to commodity demand later in the year. This will expose the highly constrained supply of many commodities and should translate into rising prices in the second half of 2023.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services


Get access