Domestic commodity prices, mainly yam and flour, have declined sharply in the last few weeks. This is good news, particularly as food inflation in October was relatively high at 20.31%.
In the global oil markets, Brent oil slid 0.25% to $63.16pb due to uncertainty about Russia’s willingness to support an extension of the production cut deal. Investors are maintaining tentative positions in anticipation of OPEC’s bi-annual meeting on November 30.
The attached slides sum up the events that took place in the domestic and global commodity markets this week.
Enjoy your read!