Currently, the ISM commodities survey has indicated that the number of commodities rising in price rose from the prior reading in three out of the last four months. The last time we saw this was in December 2005, which was followed by an up-tick in inflation last Spring that sent global markets reeling. While it is not necessarily pertinent to today's report, investors should keep this on their radar in the months ahead, given the indicator's past reliability. Longer term, the ISM Commodities Survey still remains below its downtrend from the peak readings in 2004.
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