Global supply of key food and energy commodities is starting to impact the global economy. Rising core inflation and hawkish Central Bank policy could further impact economic growth. The Global Price Index of All Commodities has more than doubled since its pandemic low in Q2 2020. Businesses and consumers are already feeling the impact of the rally in commodity prices of everything from crude oil to grains and metals. The year’s highly volatile commodity markets, roiled by the Russian invasion of Ukraine, are complicating real-world economic growth prospects and are raising food and energy prices for consumers globally. The surge in commodities, including crude oil, natural gas, wheat, soybeans, and industrial and precious metals, have already hit consumer prices globally, with inflation at a 40-year high. This has prompted the Fed to start raising interest rates to tame inflation, with more rate hikes expected in the coming months. Commodity […]