Commodity price rally in July stokes inflation concerns
Inflation concerns have surged as most commodities witness substantial price gains during July. From energy to metals to food, a broad range of commodities is experiencing significant increases.
Energy prices have been on the rise over the week and the month. Brent crude has shot up by 4.2 percent this week and 13 percent over the month. Gasoline prices have seen an even greater increase, soaring by 8 percent in the past week and a staggering 19 percent over the month. Heating oil and Urals have also experienced notable hikes, rising by 7 percent and 6 percent this week, and 15 percent and 17 percent respectively during the month. Even coal, which had a more modest increase, saw a 2 percent rise this week and a 6 percent increase over the month.