IMF Nonfuel Commodity Index

The IMF Nonfuel Commodity Index, or the IMF Primary Commodity Prices Index, is an index made by the International Monetary Fund (IMF) of commodities, excluding fuel.

The IMF Nonfuel Commodity Index includes commodities such as raw materials, food, and metals. While the index does not include oil, it does include coal, which is considered an energy source, but not “fuel.”

Since so much of our world and so many of our machines are dependent on oil, oil would have a huge sway on the index, stealing the show and overshadowing other commodities. The IMF uses the IMF Nonfuel Commodity Index to track trends in nonfuel commodities.

As of late, China is the main source of the recent increase in demand for nonfuel commodities as its economy grows, bringing its people into higher standards of living. Still, it’s expected that the demand for services will exceed the demand for manufacturing (and thus nonfuel commodities).