Global Commodity Price Index
The IMF's Global Price Index of All Commodities (2016=100): a trade-weighted basket spanning energy (the largest weight), industrial and precious metals, and food and agricultural raw materials. Monthly back to 1992.
All-commodity index (2016=100)
- YoY %
- 16.6%
Latest reading
As of July 2026, Commodities (All-commodity index (2016=100)) stands at 193.2 — down from 194.6 the prior reading, 20% below the August 2022 record of 241.9. This is the one-chart answer to "are commodities rising?" Because energy dominates the weights, the index leans on oil and gas — cross-check the copper and lumber pages when the question is industrial demand rather than energy supply. Broad commodity inflation feeds producer prices first and consumer prices with a lag, which is why the index's YoY rate is watched as a pipeline-inflation gauge. Series history runs from 1992 to present.
Sources, methodology & freshnessLast updated 2026-09-18 · Open ↓Close ↑
Full history
Index level (2016=100)
Year-over-year %
The annual change in the all-commodity index — the broadest single read on commodity inflation. The 2021-22 surge preceded the CPI peak; the 2015 and 2020 collapses preceded the disinflations.
Methodology & data
Commodities is sourced from IMF via the Federal Reserve's FRED service (IMF via FRED (PALLFNFINDEXM), monthly, index 2016=100, not seasonally adjusted). We pull the complete history, chart it on a monthly basis, overlay SPY for context, and generate a dated plain-English reading from the latest release — with no smoothing or adjustment beyond what the chart legend states.
Every reading is stamped with its release date, last updated 2026-09-18. Maintained and reviewed by Yuriy Matso; see our methodology for the standards every series on the site is held to.
Frequently asked questions
What is the Global Commodity Price Index?
The IMF's Global Price Index of All Commodities (2016=100): a trade-weighted basket spanning energy (the largest weight), industrial and precious metals, and food and agricultural raw materials. Monthly back to 1992.
How do you read Commodities?
This is the one-chart answer to "are commodities rising?" Because energy dominates the weights, the index leans on oil and gas — cross-check the copper and lumber pages when the question is industrial demand rather than energy supply. Broad commodity inflation feeds producer prices first and consumer prices with a lag, which is why the index's YoY rate is watched as a pipeline-inflation gauge.
Where does the Commodities data come from?
IMF via FRED (PALLFNFINDEXM), monthly, index 2016=100, not seasonally adjusted. We chart the full history and publish a dated, plain-English reading with every release; the raw series is downloadable as CSV at /data/indicators/commodity-index.csv.
How often is Commodities updated?
Commodities is a monthly series from IMF, refreshed here as soon as a new release posts to FRED.
All-commodity index (2016=100)
- YoY %
- 16.6%