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Global Commodity Price Index

IMF global commodity price index, leading indicator of headline inflation.

The Global Commodity Price Index is currently 184.35, last updated .

184.35
1W +2.18%1M +2.18%3M +2.18%
Updated 11m ago
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Inflation erodes purchasing power and forces central banks to tighten, squeezing equity multiples and increasing credit stress. Breakeven rates reveal what the bond market expects for future inflation, while CPI and PCE measure what consumers actually experience. Divergences between market expectations and realized prints create some of the highest-impact trading events of the year.

Updated just now

Recent Data

DateValueChange
Feb 1, 2026184.35+2.18%
Jan 1, 2026180.42+5.66%
Dec 1, 2025170.75+1.25%
Nov 1, 2025168.64+0.50%
Oct 1, 2025167.81+0.21%
Sep 1, 2025167.46+2.52%
Aug 1, 2025163.35-1.42%
Jul 1, 2025165.71-0.29%
Jun 1, 2025166.19+3.10%
May 1, 2025161.19—

Related in Inflation

CPI (All Urban)
Consumer Price Index for all urban consumers, the headline inflation gauge.
Core CPI (ex Food/Energy)
CPI excluding food and energy, less volatile measure of underlying inflation.
PCE Price Index
Personal Consumption Expenditures price index, the Fed's preferred inflation measure.
Core PCE (ex Food/Energy)
Core PCE excluding food and energy, the single most important inflation metric for the Fed.

Explore Further

Forecast 2026
Global Commodity Price Index Outlook
Scenario-weighted forecast using regime implied approach.
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IMF All Commodity Index vs S&P 500
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Comparison
Commodity Index vs Dollar Index
Commodities are priced in dollars globally, so a strong dollar typically pressures commodity prices. The ratio reveals w...
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Commodity Index vs Copper
Copper is the most growth-sensitive industrial commodity. When copper outperforms the broad commodity index, industrial ...
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Commodity Index vs WTI Oil
Oil has historically been the dominant commodity weight. When oil outperforms the broad index, oil-specific supply or de...
Comparison
Commodity Index vs CPI
Commodity prices lead CPI by 6-12 months. When commodities rally but CPI stabilizes, either the inflation transmission i...
Comparison
Energy Sector (XLE) vs Commodity Index
Energy equities are correlated with oil but can diverge when metals or agricultural commodities lead. When XLE outperfor...
Comparison
Agriculture (DBA) vs Commodity Index
Agricultural commodities respond to weather, biofuel demand, and global trade. When DBA outperforms the broad index, foo...
Scenario
What Happens When Core PCE Exceeds 4%?
Core PCE above 4% represents severe Fed target overshoot. What happens to rates, markets, and the Fed when the preferred...
Category
All Inflation Data
CPI, PCE, breakevens, and inflation expectations data updated live. Track the indicators the Fed watches most closely to...

Frequently Asked Questions

▶What is Global Commodity Price Index?
IMF global commodity price index, leading indicator of headline inflation.
▶How does Global Commodity Price Index relate to inflation?
Global Commodity Price Index is part of the Inflation category. Inflation erodes purchasing power and forces central banks to tighten, squeezing equity multiples and increasing credit stress. Breakeven rates reveal what the bond market expects for future inflation, while CPI and PCE measure what consumers actually experience. Divergences between market expectations and realized prints create some of the highest-impact trading events of the year.
▶How often is Global Commodity Price Index updated?
Global Commodity Price Index is updated once per month when the releasing agency publishes new data. Each metric page on Convex shows the exact time of the last data update and provides historical data going back up to five years.
▶Where does Convex source Global Commodity Price Index data?
Convex sources Global Commodity Price Index data from the Federal Reserve Economic Data (FRED) API, maintained by the Federal Reserve Bank of St. Louis. Data is fetched automatically and displayed alongside interactive charts, AI analysis, and historical context.
▶What can I do on the Global Commodity Price Index chart page?
The Global Commodity Price Index page includes an interactive chart with selectable time ranges (1 month to 5 years), percentage changes over multiple timeframes, a table of recent readings, AI-generated analysis, and links to related metrics and comparisons.

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Data sourced from FRED, CoinGecko, CBOE, CFTC, and EIA. Updated monthly. This page is for informational purposes only and does not constitute financial advice.