20.08.2008 - Falling prices indicate inflation may be peaking
From Theaustralian.com.au: A sharp drop in commodity prices is raising hopes that inflation is peaking in many parts of the developing world, especially Asia, providing welcome relief for the fragile global economy. Lofty prices for oil, food and other essentials remain a big challenge, especially for poor developing countries such as Haiti, Egypt and India, where earlier this year soaring costs triggered violent street protests, transport strikes and other unrest. But recently, many of those prices have fallen significantly. Oil fell $US1.24 a barrel over the weekend to close at $US113.77, 22 per cent below its record price earlier this year. Rice, a staple for the developing world, is down about 40 per cent since May, while palm oil, a source of cooking oil, is down a similar amount since peaking in March. Wheat, copper and a host of other commodities also have seen sizeable drops. .... Full Article: Source
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