16  Gráfico 13 Mundo: Proyecciones contenidas en los últimos IPoM  Precios efectivos y proyecciones (1) (2) (índice; dólares el barril; dólares la libra) Series3 IPoM Sep.22 IPoM Jun.22  (variación anual, porcentaje)  Mar.21 Mar.22  6  Jun.21 Jun.22  Sep.21 Sep.22  Dic.21  5 3  5  1  4  16  17  18 19 20 Petróleo IPoM Jun.22  21  22 23 24 IPoM Sep.22  16  17  18 19 20 Índice FAO IPoM Sep.22  21  22 23 24 IPoM Jun.22  16  17  21  22  125  3  75  02  02 25  2  160  1  120  0  80  22  23  18  19  20  23  24  (1) Para el petróleo es el precio promedio entre el barril WTI y Brent. Para alimentos es el índice FAO. (2) Precio/índice efectivo corresponde al promedio de cada año. Líneas punteadas corresponden a las proyecciones 2022-2024 contenidas en cada IPoM. Fuentes: Banco Central de Chile, Bloomberg y FAO. Fuente: Banco Central de Chile.
Compared to the levels prevailing at the close of the June Report, the prices of oil and copper have fallen between 15% and 20%. On the other hand, the price of lithium has continued to rise, driven by the strong demand linked to the production of electric vehicles, while the supply has limited capacity to respond to the challenge. Food prices have also fallen, although in this case supply-side factors, including the agreement between Russia and Ukraine to resume grain exports and the improved production prospects in some relevant countries, have had a greater impact. Global supply chains have shown some normalization, with freight costs declining. Even though bottlenecks have been gradually resolved, the risk of new quarantines persists given China's zero-Covid policy. In this context, external cost pressures are still substantial (figure 9). Global financial markets have reacted to this scenario by exhibiting high volatility in recent months. Doubts about the trajectory of the Fed's monetary policy and its potential effects have been among the main sources of financial fluctuations. Thus, market sensitivity to data or statements by authorities has increased, with episodes of high volatility and fluctuating risk aversion. Compared to the close of the last Report, interest rate hikes, stock market declines, and a global strengthening of the dollar to twenty-year records have been observed. These movements are consistent with the Fed's hardened messages regarding the monetary policy efforts needed to reduce high inflation.