Has commodity inflation well and truly set in?
Man Institute
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Tuesday, May 18, 2021
Occam’s Razor: Commodity Prices… A couple of weeks ago, it was lumber prices. Now, it’s Dalian iron ore prices, which reached a record high of USD206 a ton. And copper specs, off from their highs but still elevated. And burlap. And tallow. Even animal hide prices are up (Figures 1-3). On this basis, we think it is fair to say that commodity inflation has well and truly set in, and has been passed on through to consumers. Prints like the 4.2% April US CPI aren’t just base effect.
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