New Commodity Price Highs

Oil- and other commodity prices were at or very near new annual highs today in terms of U.S. dollars (and currencies pegged to the USD) The 4 commodity price indexes followed at Bloomberg are now up between 30 and 60% during 2009. That certainly suggests that inflationary pressures remains significant.

The gains in commodity prices are more moderate in terms of most other currencies (the exception being the yen) during the latest year, yet during the latest month commodity prices have increased even more in terms of other currencies.