World Bank: Energy prices will remain high in 2022

Released on 21. 10. 2021

  • According to the World Bank, energy prices will only rise in the second half of the next year will decrease. Photo: Hauke-Christian Dittrich

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How will energy prices develop in the next year? Now the World Bank has presented a report on the commodity markets.

Washington (dpa) – According to the World Bank, the sharp rise in energy prices will remain high in the coming year and thus cause inflationary pressure worldwide.

Economic growth could also shift in part from the energy importers to the producers, explained the World Bank in a report on the raw material markets. According to this, energy prices are only expected to fall again in the second half of the coming year in view of a better supply situation and slower growing demand.

«The increase in energy prices represents for global inflation poses a significant risk 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 prices for natural gas and coal could continue to rise in the short term due to low inventories, warned the World Bank. 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.

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