Commodity prices refer to the market value of raw materials or primary agricultural products that can be bought and sold. These commodities include items like oil, gold, wheat, and copper. Prices fluctuate based on supply and demand, geopolitical events, and economic conditions, impacting various industries and consumers. Changes in commodity prices can influence inflation and the overall economy. For example, rising oil prices can lead to higher transportation costs, affecting the prices of goods. Investors often track these prices to make informed decisions in financial markets, as they can indicate broader economic trends.