No need to worry about inflation, right? Jerome Powell, the current Fed Chair said, “An episode of one-time price increases as the economy re-opens is not the same thing as, and is not likely to lead to, persistently higher year-over-year inflation.” So we're all good ...
Charts don't lie. Almost all basic materials have doubled since last year. Start planning for inflation, because it's coming.
Percent increases in futures contacts from one year ago (May 13, 2020 - May 13, 2021)
Lumber 340%
Steel 220%
Iron Ore 150%
Corn 120%
Copper 100%
Soybeans 90%
Pork 82%
Sugar 73%
Alum 70%
Milk 60%
Cotton 46%
Wheat 40%
Coffee 36%
Cattle 21%
Charts don't lie. Almost all basic materials have doubled since last year. Start planning for inflation, because it's coming.
Percent increases in futures contacts from one year ago (May 13, 2020 - May 13, 2021)
Lumber 340%
Steel 220%
Iron Ore 150%
Corn 120%
Copper 100%
Soybeans 90%
Pork 82%
Sugar 73%
Alum 70%
Milk 60%
Cotton 46%
Wheat 40%
Coffee 36%
Cattle 21%