GYCPI – Grilli and Yang Data

In January 2007, the World Bank Economic Review published a note on how to update the Grilli and Yang data set. The Grilli and Yang Commodity Price Index was first presented in an article by Grilli and Yang in 1988; the note on how to update it can be downloaded here:

Stephan Pfaffenzeller, Paul Newbold and Anthony Rayner (2007) "A Short Note on Updating the Grilli and Yang Commodity Price Index" World Bank Economic Review  Vol.21, no.1, pp.1-13, doi:10.1093/wber/lhl013
Article (pdf) (subscription required).
Unformatted article (pdf) (free access).

A spreadsheet containing the individual commodity price indices and the various composite indices discussed in the note can be obtained here:

Supplementary Data

Updated data to 2011: The update to 2011 draws on some new data sources and switches to a new definition of the MUV index from 2011 onward. These changes are detailed in a separate note. Data series for individual commodities are available as a spreadsheet:

Grilli and Yang Data 1900-2011

The spreadsheet is in csv format, i.e. it is a comma delimited textfile. Most spreadsheet programs and most econometric packages should be able to read this without problems. In view of the changes made, this data set should be used in preference over earlier updates for the 2004-2010 interval which were posted on this site. A note with details of the revisions and corrections made as well as the pre 2011 legacy data sets are available in a compressed archive here.

Grilli, Enzo and Maw Cheng Yang (1988) "Primary Commodity Prices, Manufactured Goods Prices, and the Terms of Trade of Developing Countries: What the Long Run Shows" The World Bank Economic Review Vol.2, no.1, pp.1-47

Academic Output: Published academic papers and discussion papers. These are hyperlinked where legally possible. Otherwise, the reference is given.