commodity price indexes

Commodity price indexes measure the overall changes in the prices of key goods like oil, metals, and agricultural products over time. They help track economic trends, inflation, and supply-demand shifts in global markets. By averaging prices of a selected group of commodities, these indexes provide a clear snapshot of how commodity costs are evolving, which can influence industries, policies, and investment decisions. Essentially, they serve as a barometer for understanding fluctuations in raw material prices that impact many sectors of the economy.