1945

The trend of rising commodity prices that started in 2003 and the period of extreme price volatility that followed in 2008 have given way to declining global prices. It is now widely believed that prices will remain at lower levels in the medium term, as growth in emerging economies has decelerated and, in general, commodity supply has not fully adjusted to the consequent weaker demand. These events have renewed global interest in the relationship between commodity prices and economic development.

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