The fall in commodity prices raises hopes that inflation has peaked

A drop in prices for all kinds of commodities (corn, wheat, copper, etc.) raises hopes that a major source of inflationary pressure may begin to ease.

Natural gas prices soared more than 60% before falling back to end the quarter down 3.9%. US crude slid over $120 a barrel to end around $106. Wheat, corn and soybeans all ended up cheaper than they were at the end of March. Cotton has come undone, losing more than a third of its price since early May. Benchmark copper and timber building materials prices fell 22% and 31%, respectively, while a basket of industrial metals that trade in London suffered their worst quarter since the 2008 financial crisis.


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