41 days ago • Posted by William Ramstein
Inflation is clearly settling in with rising commodity futures
Lumber prices have shot to more than four times what is typical, pushing up home prices and obliterating renovation budgets. Copper, a cog of industry found throughout the home and in electronics, hit record prices Friday. Crude oil hasn’t cost so much since 2018 and soybeans are trading at their loftiest level since 2012. With corn climbing toward a record, Americans can expect to pay more for all sorts of items at the grocery store as well as at the gasoline pump. Corn is a key ingredient in making products ranging from tortilla chips and chicken wings to bourbon and Coca-Cola. About 40% of the U.S. crop is blended into motor fuel.