ENERGY PRICES
Commodity costs little changed in November – German economics institute
 Up and down: the price of gas (Photo: Pexels, Pixabay) |
The trend points mostly down for the November 2022 energy commodity prices determined by Germany’s Hamburg Institute for World Economics (HWWI, Hamburg; www.hwwi.de). Compared to the previous month, the value fell 1.5%.
Prices for coal, crude oil and natural gas showed inconsistent development. While the natural gas sub-index rebounded 4.5% from its October crash of more than 27% (and was almost 30% above the gas price in November 2021), the coal sub-index fell 12% in November, with the crude oil mark off 3.8%.
Related: Wide range of estimates for Eurozone growth in 2023
Weak growth prospects and an announcement for plans of higher coal production in Indonesia, China, and India in 2023 had a price-dampening effect, economic researchers said.
The overall HWWI raw material price index fell further in November – as in the previous month – by 1.3%. The overall index consists of the sub-indices energy raw materials, industrial raw materials, and food and beverages.
Prices for coal, crude oil and natural gas showed inconsistent development. While the natural gas sub-index rebounded 4.5% from its October crash of more than 27% (and was almost 30% above the gas price in November 2021), the coal sub-index fell 12% in November, with the crude oil mark off 3.8%.
Related: Wide range of estimates for Eurozone growth in 2023
Weak growth prospects and an announcement for plans of higher coal production in Indonesia, China, and India in 2023 had a price-dampening effect, economic researchers said.
The overall HWWI raw material price index fell further in November – as in the previous month – by 1.3%. The overall index consists of the sub-indices energy raw materials, industrial raw materials, and food and beverages.
04.01.2023 Plasteurope.com [251846-0]
Published on 04.01.2023
German version of this article...