Commodity inflation is surging:
The Bloomberg Commodity Index is up to 141 points, the highest since February 2013.
This index tracks 25 exchange-traded futures contracts across energy, metals, and agriculture.
Energy accounts for the largest weighting, at 39%, followed by agriculture, at 27%, precious metals, at 16%, and industrial metals, at 13%.
This index is now up +28% year-to-date and it has officially surpassed the 2022 energy crisis peak of 140 points.
As a result, commodity prices are now on track for their first annual increase in 4 years.
Inflation is back.
