The World Bank projects a 23 percent rise in global commodity prices by the end of 2026, with energy prices at four-year highs because of the war on Iran, according to TRT World.

Food prices are expected to rise 10 percent in 2026 and another 7 percent next year, because of conflict-affected grain supply lines, the effects of an extreme El Niño phenomenon, and high fuel and fertilizer prices. Reuters reported the 23 percent projection for 2026 attributed to the Middle East war and other supply shocks.