Global Commodity Index
194.5
Latest Value Index+298.8%
Global Macro Commodity Canvas
Isolate and track sovereign baseline indexes across multi-year timeline matrices.
Global Food Price Index
135.5
Latest Value Index+131.8%
| Date | Classification | Index Value | MoM Change |
|---|---|---|---|
| 2026-03 | Commodity Basket | 194.5 | ▲ +13.55% |
| 2026-02 | Commodity Basket | 171.3 | ▲ +2.77% |
| 2026-01 | Commodity Basket | 166.7 | ▲ +0.44% |
| 2025-12 | Commodity Basket | 165.9 | ▼ 2.20% |
| 2025-11 | Commodity Basket | 169.7 | ▼ 2.62% |
| 2025-10 | Commodity Basket | 174.2 | ▲ +1.47% |
| 2025-09 | Commodity Basket | 171.7 | ▲ +0.82% |
| 2025-08 | Commodity Basket | 170.3 | ▼ 2.74% |
| 2025-07 | Commodity Basket | 175.1 | ▲ +2.87% |
| 2025-06 | Commodity Basket | 170.2 | ▲ +0.18% |
| 2025-05 | Commodity Basket | 169.9 | ▼ 0.53% |
| 2025-04 | Commodity Basket | 170.8 | ▲ +1.17% |
| 2025-03 | Commodity Basket | 168.8 | ▲ +0.24% |
| 2025-02 | Commodity Basket | 168.4 | ▼ 6.60% |
| 2025-01 | Commodity Basket | 180.4 | ▼ 7.23% |
| 2024-12 | Commodity Basket | 194.4 | ▼ 12.64% |
| 2024-11 | Commodity Basket | 222.6 | ▼ 4.10% |
| 2024-10 | Commodity Basket | 232.1 | ▲ +4.10% |
| 2024-09 | Commodity Basket | 222.9 | ▲ +8.69% |
| 2024-08 | Commodity Basket | 205.1 | ▲ +11.86% |
| 2024-07 | Commodity Basket | 183.3 | ▲ +11.04% |
| 2024-06 | Commodity Basket | 165.1 | ▲ +7.57% |
| 2024-05 | Commodity Basket | 153.5 | ▲ +8.90% |
| 2024-04 | Commodity Basket | 140.9 | ▲ +12.80% |
| 2024-03 | Commodity Basket | 125.0 | ▲ +12.37% |
| 2024-02 | Commodity Basket | 111.2 | ▲ +9.37% |
| 2024-01 | Commodity Basket | 101.7 | ▲ +9.74% |
| 2023-12 | Commodity Basket | 92.7 | ▼ 12.60% |
| 2023-11 | Commodity Basket | 106.0 | ▼ 7.36% |
| 2023-10 | Commodity Basket | 114.4 | ▼ 1.17% |
| 2023-09 | Commodity Basket | 115.8 | ▼ 2.17% |
| 2023-08 | Commodity Basket | 118.3 | ▼ 2.25% |
| 2023-07 | Commodity Basket | 121.1 | ▼ 1.10% |
| 2023-06 | Commodity Basket | 122.4 | ▼ 3.97% |
| 2023-05 | Commodity Basket | 127.5 | ▼ 4.48% |
| 2023-04 | Commodity Basket | 133.5 | ▼ 1.19% |
| 2023-03 | Commodity Basket | 135.1 | ▲ +1.75% |
| 2023-02 | Commodity Basket | 132.8 | ▲ +4.37% |
| 2023-01 | Commodity Basket | 127.2 | ▲ +6.10% |
| 2022-12 | Commodity Basket | 119.9 | ▲ +5.74% |
| 2022-11 | Commodity Basket | 113.4 | ▲ +2.08% |
| 2022-10 | Commodity Basket | 111.1 | ▼ 3.63% |
| 2022-09 | Commodity Basket | 115.2 | ▲ +4.99% |
| 2022-08 | Commodity Basket | 109.8 | ▲ +5.20% |
| 2022-07 | Commodity Basket | 104.3 | ▲ +3.94% |
| 2022-06 | Commodity Basket | 100.4 | ▲ +6.57% |
| 2022-05 | Commodity Basket | 94.2 | ▲ +7.78% |
| 2022-04 | Commodity Basket | 87.4 | ▼ 6.06% |
| 2022-03 | Commodity Basket | 93.0 | ▼ 6.27% |
| 2022-02 | Commodity Basket | 99.3 | ▼ 8.07% |
| 2022-01 | Commodity Basket | 108.0 | ▼ 1.35% |
| 2021-12 | Commodity Basket | 109.4 | ▼ 7.93% |
| 2021-11 | Commodity Basket | 118.9 | ▼ 13.24% |
| 2021-10 | Commodity Basket | 137.0 | ▼ 10.64% |
| 2021-09 | Commodity Basket | 153.3 | ▼ 4.92% |
| 2021-08 | Commodity Basket | 161.3 | ▼ 0.07% |
| 2021-07 | Commodity Basket | 161.4 | ▲ +0.47% |
| 2021-06 | Commodity Basket | 160.6 | ▼ 1.21% |
| 2021-05 | Commodity Basket | 162.6 | ▼ 0.97% |
| 2021-04 | Commodity Basket | 164.2 | ▼ 1.83% |
| 2021-03 | Commodity Basket | 167.2 | ▼ 3.34% |
| 2021-02 | Commodity Basket | 173.0 | ▲ +0.93% |
| 2021-01 | Commodity Basket | 171.4 | ▼ 0.75% |
| 2020-12 | Commodity Basket | 172.7 | ▼ 1.21% |
| 2020-11 | Commodity Basket | 174.8 | ▼ 3.81% |
| 2020-10 | Commodity Basket | 181.8 | ▼ 0.78% |
| 2020-09 | Commodity Basket | 183.2 | ▲ +0.31% |
| 2020-08 | Commodity Basket | 182.6 | ▼ 3.69% |
| 2020-07 | Commodity Basket | 189.6 | ▼ 1.80% |
| 2020-06 | Commodity Basket | 193.1 | ▲ +5.15% |
| 2020-05 | Commodity Basket | 183.6 | ▲ +10.26% |
| 2020-04 | Commodity Basket | 166.5 | ▲ +11.04% |
| 2020-03 | Commodity Basket | 150.0 | ▲ +5.28% |
| 2020-02 | Commodity Basket | 142.5 | ▲ +0.81% |
| 2020-01 | Commodity Basket | 141.3 | ▲ +3.18% |
| 2019-12 | Commodity Basket | 137.0 | ▲ +6.20% |
| 2019-11 | Commodity Basket | 129.0 | ▲ +8.48% |
| 2019-10 | Commodity Basket | 118.9 | ▲ +6.57% |
| 2019-09 | Commodity Basket | 111.6 | ▲ +7.46% |
| 2019-08 | Commodity Basket | 103.8 | ▼ 2.04% |
| 2019-07 | Commodity Basket | 106.0 | ▼ 19.96% |
| 2019-06 | Commodity Basket | 132.4 | ▼ 26.18% |
| 2019-05 | Commodity Basket | 179.4 | ▼ 3.69% |
| 2019-04 | Commodity Basket | 186.2 | ▲ +13.00% |
| 2019-03 | Commodity Basket | 164.8 | ▲ +10.12% |
| 2019-02 | Commodity Basket | 149.7 | ▲ +9.54% |
| 2019-01 | Commodity Basket | 136.6 | ▲ +5.38% |
| 2018-12 | Commodity Basket | 129.7 | ▲ +2.64% |
| 2018-11 | Commodity Basket | 126.3 | ▲ +6.40% |
| 2018-10 | Commodity Basket | 118.7 | ▲ +1.30% |
| 2018-09 | Commodity Basket | 117.2 | ▼ 4.40% |
| 2018-08 | Commodity Basket | 122.6 | ▼ 0.52% |
| 2018-07 | Commodity Basket | 123.3 | ▲ +5.17% |
| 2018-06 | Commodity Basket | 117.2 | ▲ +5.21% |
| 2018-05 | Commodity Basket | 111.4 | ▲ +1.73% |
| 2018-04 | Commodity Basket | 109.5 | ▲ +2.48% |
| 2018-03 | Commodity Basket | 106.8 | ▲ +8.74% |
| 2018-02 | Commodity Basket | 98.3 | ▲ +5.12% |
| 2018-01 | Commodity Basket | 93.5 | ▲ +5.50% |
| 2017-12 | Commodity Basket | 88.6 | ▲ +5.24% |
| 2017-11 | Commodity Basket | 84.2 | ▲ +4.23% |
| 2017-10 | Commodity Basket | 80.8 | ▲ +4.06% |
| 2017-09 | Commodity Basket | 77.6 | ▲ +6.20% |
| 2017-08 | Commodity Basket | 73.1 | ▲ +7.66% |
| 2017-07 | Commodity Basket | 67.9 | ▲ +6.69% |
| 2017-06 | Commodity Basket | 63.6 | ▲ +3.04% |
| 2017-05 | Commodity Basket | 61.8 | ▼ 2.09% |
| 2017-04 | Commodity Basket | 63.1 | ▲ +1.74% |
| 2017-03 | Commodity Basket | 62.0 | ▲ +8.83% |
| 2017-02 | Commodity Basket | 57.0 | ▲ +3.64% |
| 2017-01 | Commodity Basket | 55.0 | ▲ +2.65% |
| 2016-12 | Commodity Basket | 53.5 | ▲ +7.32% |
| 2016-11 | Commodity Basket | 49.9 | ▲ +3.94% |
| 2016-10 | Commodity Basket | 48.0 | ▼ 5.68% |
| 2016-09 | Commodity Basket | 50.9 | ▼ 8.67% |
| 2016-08 | Commodity Basket | 55.7 | ▼ 5.50% |
| 2016-07 | Commodity Basket | 59.0 | ▼ 3.69% |
| 2016-06 | Commodity Basket | 61.2 | ▼ 3.77% |
| 2016-05 | Commodity Basket | 63.6 | ▲ +1.92% |
| 2016-04 | Commodity Basket | 62.4 | ■ 0.00% |
Global Inflation & Commodity Cycle Diagnostics
1. Interconnected Evaluation of Global Macroeconomic Pricing Gauges
The systemic movement of global headline inflation is rarely an isolated phenomenon; rather, it is inherently synchronized with structural inflection points within the Global Commodity Index (GCI) and the Global Food Price Index (GFPI). Historically, these metrics act as primary upstream cost transmission channels for major economies. For instance, the industrial demand observed in the United States and the manufacturing intensity of China often dictate the baseline momentum of these indices. When data across these markets moves upward in unison, it signals a synchronized systemic shock across global distribution networks. Conversely, a period of divergence—where GCI levels correct downward while food prices remain sticky—highlights domestic supply-side rigidities in regions like the Euro Area, where local protectionism or energy constraints may prevent consumers from feeling the relief of lower global commodity costs.
2. Core Structural Drivers of Upstream Index Volatility
A clinical examination of pricing records underscores that industrial commodities are highly sensitive to shifting global liquidity allocations and manufacturing capex cycles. Major spikes are often linked to logistical bottlenecks in trade-dependent nations such as Japan or the export-heavy industrial sectors of Germany. On the parallel axis, the GFPI reflects pressures like climatic variations and fertilizer costs. This structural integration explains why energy shocks filter into the food baskets of emerging economies like India with a persistent statistical lag. By monitoring these distinct drivers across different markets, analysts can better anticipate why baseline food baskets remain elevated long after energy markets have recalibrated.
3. Mechanisms of the Global Inflation Transmission Loop
The operational path from upstream indices to consumer levels follows a sequential Inflationary Loop. When input costs rise, corporate networks in service-oriented economies like the United Kingdom initially absorb pressures within their gross margins to remain competitive. However, sustained stress forces these entities to shift premiums onto wholesale distribution networks. Historical data shows a clear lag structure: structural cost changes require consecutive quarters to cascade through intermediate production layers. This lag is particularly pronounced within the food matrix, where complex international logistics buffers defer the final pass-through effect. Understanding this transmission delay is essential for distinguishing between transitory fluctuations and the persistent inflationary trends currently impacting households in France and beyond.
4. Historical Liquidity Impacts on Real Asset Valuations
Beyond physical supply imbalances, both indices serve as diagnostic gauges for shifts in international monetary policy. Historical periods defined by aggressive policy normalization and credit contraction typically trigger a deceleration in inventory restocking, dragging down global demand vectors. This cooling effect suppresses speculative trading in financialized futures markets, helping to flatten trajectories previously fueled by easy credit. Looking back, these inflection points demonstrate that the long-term trend is heavily dictated by the balance between global physical production boundaries and the total velocity of sovereign credit aggregates. Keeping a pulse on these indices provides a foundational view of how liquidity is being withdrawn globally, directly impacting the valuation of real assets and the long-term economic stability of major trading powers.
Macro Event Thread
2020.03 - 2021.12
Global Pandemic & Liquidity Injection
The synchronized global lockdown triggered unprecedented disruptions in logistics and supply chain efficiency. In response, central banks launched massive quantitative easing programs, flooding the global financial system with liquidity, which acted as the primary catalyst for the subsequent surge in asset prices and consumer inflation.
2022.02 - 2023.05
Resource Scarcity & Energy Premium
The outbreak of major geopolitical conflicts in Eastern Europe choked critical global trade corridors for energy and grains. This created a profound "geopolitical risk premium," causing vertical spikes in the Global Commodity Index (GCI) and pushing headline inflation into double-digit territory across major economies.
2023.06 - 2025.01
Monetary Tightening & Demand Destruction
To combat persistent inflation, major central banks executed the fastest interest rate hiking cycle in decades. This aggressive monetary contraction aimed to stabilize credit aggregates, successfully cooling speculative commodity demand and forcing a recalibration of industrial production expectations.
2025.02 - 2026.05
Fragmentation & Structural Resilience
As the global economy transitions into a post-tightening phase, the focus shifts toward "resilience inflation." Regional fragmentation and supply chain localization have created a new floor for costs, where volatility is lower, yet structural price pressures remain embedded in the global economic fabric.
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Decoding Commodity & Inflation Metrics
Explore calculation methodologies, basket composition, and the structural significance of CPI and global commodity metrics.