The Global Price Pressures Index jumped to 1.0 in January (from 0.4 in December), indicating a return to long-run average cost pressure levels across manufacturing inputs.

• Reported price pressures reached their highest level since April 2025, showing a sharp acceleration in global commodity cost momentum at the start of 2026.

• Seven of 26 monitored commodities recorded above-trend price increases, led by semiconductors, where price pressures ran around eight times the long-run norm, highlighting concentrated inflation in this segment.

• Electrical items, copper, and aluminium also saw above-average price rises, with copper posting its strongest increase since June 2021, signaling notable strength in industrial metals.

• Several other commodities experienced softer conditions, with five registering slight price declines, led by polyethylene, indicating that pricing pressures were not universal.

• The Global Supply Pressures Index edged down slightly to 0.5 (from 0.6), suggesting overall supply constraints remained broadly stable.

• Transport reported the most pronounced supply shortfalls, reaching a four-month high and nearly four times the long-run average, pointing to localized logistics tightness.

• Semiconductor and electrical items also showed marginally above-normal shortfalls, while most other commodities reflected generally adequate supply availability.