Is the CRB Commodity Index Peaking and Reversing Lower?

It’s fair to say that inflation has been one of the key economic buzz words of 2022 (along with interest rates).

Will the Federal Reserve’s last two big rate hikes help? Will the latest government inflation bill matter? Perhaps. But one key ingredient may have peaked a couple months back: Commodities.

Today we look at a long-term chart the CRB Commodity Index. As you can see, commodities had a very bullish 2-year run higher.

However, price tested falling resistance at (1) in June and reversed lower. That peak also coincided with its highest ever momentum reading (using percent above the 80-week moving average). Previous momentum peaks resulted in big declines in the CRB Index.

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Consumers are hoping this momentum peak also produces a fall in commodity prices. Stay tuned!

CRB Commodity Index Long-Term Chart

crb commodity index peak price inflation chart august year 2022

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