Inflation concerns have been raised as most commodities witnessed substantial price gains during July. From food to metal to energy, a broad range of commodities are experiencing significant increases in their base price.

Brent crude has increased by 4.2% this week and has gained 13% over the month. Energy prices have been rising consistently over the month. Heating oil and Urals have also experienced a significant gain of 7% and 6% this week and 15% and 17%, respectively, during the current month. Gasoline prices have seen a greater increase of 8% in the past week and have increased by 19% this month. Coal has seen a modest increase of 2% this week and 6% over the month.

Metals have seen a similar trend in their prices, with Copper rising by 1%in the past week and 1.9% over the month. Steel has also seen an increase of 2.4% within the week and 2.8% in the month. Iron ore has seen a minimalistic price hike this week of 0.2% but 2.8% this month. Zinc has gained 0.4% this week and 2.8% this month. Aluminum has averted the trend and has decreased by 2% over the week despite rising by 3% over the month.

Soft commodities have seen their fair share of price surge, with Wheat prices seeing a massive increase of 15% over the week and 4.5% over the month. Cotton and palm oil have also experienced a price hike of 4% and 6%, respectively, this week and 6.5% and 11.8% over the month. Rice, sugar, and soybean have seen a price hike of 3.5%, 4.7%, and 2% over the week. Over the month, sugar has increased by 5% and soybean by 6.8%. Commodities such as Coffee and corn have experienced a decline of 3% and 3.8% over the month.