--- title: "'Inflation Is Back:' Commodity Prices Hit Highest Level In More Than A Decade" type: "News" locale: "en" url: "https://longbridge.com/en/news/285520693.md" description: "Commodity prices are surging, pushing the Bloomberg Commodity Index to its highest level since 2013, raising inflation concerns. The index, which tracks 25 futures contracts across energy, metals, and agriculture, is up 28% year-to-date. The 5-year breakeven inflation rate reached 2.72%, the highest since August 2022. A widening conflict in the Middle East is expected to impact inflation and financial markets. Energy prices are projected to increase by 24% this year, marking the steepest rise since the fallout from Russia’s invasion of Ukraine." datetime: "2026-05-07T09:17:09.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285520693.md) - [en](https://longbridge.com/en/news/285520693.md) - [zh-HK](https://longbridge.com/zh-HK/news/285520693.md) --- # 'Inflation Is Back:' Commodity Prices Hit Highest Level In More Than A Decade Commodity prices are surging globally, reigniting inflation concerns as the Bloomberg Commodity Index climbed to its highest level in more than a decade. ## **Inflation is Back** According to an X post by **The Kobeissi Letter** on Wednesday, the Bloomberg Commodity Index rose to 141 points, surpassing the peak reached during the 2022 energy crisis and marking its highest level since February 2013. > Commodity inflation is surging: > > The Bloomberg Commodity Index is up to 141 points, the highest since February 2013. > > This index tracks 25 exchange-traded futures contracts across energy, metals, and agriculture. > > Energy accounts for the largest weighting, at 39%, followed by… pic.twitter.com/RcAV7ClviG > > — The Kobeissi Letter (@KobeissiLetter) May 6, 2026 The index, which tracks 25 exchange-traded futures contracts across energy, metals and agricultural commodities, has gained 28% year-to-date. The letter warned that "Inflation is back." The 5-year breakeven inflation rate recently reached 2.72%, the highest since August 2022, while the 10-year breakeven rose to 2.50%, the highest since March 2023. The letter said, "Commodity prices are now on track for their first annual increase in 4 years." A widening conflict in the Middle East is set to trigger the global commodity surge, with broad implications for inflation, growth and financial markets, according to the World Bank Group. **Read Also: Gold Miners ETFs Are Shining Amid Falling Yields, Sliding Dollar And US-Iran Peace Deal Hopes: Here's What You Should Know** ## **Energy Leads Commodity Rally** Energy remains the largest component of the index, accounting for roughly 39% of the weighting. This was followed by agriculture at 27%, precious metals at 16%, and industrial metals at 13%. The World Bank projects energy prices to increase 24% this year, marking the steepest increase since the fallout from Russia’s invasion of Ukraine. ## **US-Iran Deal Hopes Trigger Wild Swing in Oil Prices** Energy markets are experiencing extreme volatility. Nearly $920 million in crude oil short positions were taken shortly on Wednesday before an Axios report hinted at a potential peace deal between the U.S. and Iran, causing prices to plummet more than 12% within hours, potentially generating an estimated $125 million profit for the short position. Then, oil prices bounced back and surged 8% on the day after the reports emerged that Iran had launched the “Persian Gulf Strait Authority.” **_Disclaimer:_** _This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor._ **Read Also: Marjorie Taylor Greene Singles Out $920 Million Worth Of Crude Oil Shorts And Says On-Again, Off-Again War Rehetoric Is Just 'Insider Trading'** _Photo courtesy: Shutterstock_ ### Related Stocks - [FCX.US](https://longbridge.com/en/quote/FCX.US.md) - [AA.US](https://longbridge.com/en/quote/AA.US.md) - [NEM.US](https://longbridge.com/en/quote/NEM.US.md) - [600547.CN](https://longbridge.com/en/quote/600547.CN.md) - [AEM.US](https://longbridge.com/en/quote/AEM.US.md) - [CENX.US](https://longbridge.com/en/quote/CENX.US.md) - [TECK.US](https://longbridge.com/en/quote/TECK.US.md) - [KGC.US](https://longbridge.com/en/quote/KGC.US.md) - [SILV.US](https://longbridge.com/en/quote/SILV.US.md) - [HBM.US](https://longbridge.com/en/quote/HBM.US.md) - [ERO.US](https://longbridge.com/en/quote/ERO.US.md) - [GDXY.US](https://longbridge.com/en/quote/GDXY.US.md) - [GDXJ.US](https://longbridge.com/en/quote/GDXJ.US.md) - [RING.US](https://longbridge.com/en/quote/RING.US.md) - [159562.CN](https://longbridge.com/en/quote/159562.CN.md) - [UGL.US](https://longbridge.com/en/quote/UGL.US.md) - [GDX.US](https://longbridge.com/en/quote/GDX.US.md) - [CPER.US](https://longbridge.com/en/quote/CPER.US.md) - [09824.HK](https://longbridge.com/en/quote/09824.HK.md) - [02824.HK](https://longbridge.com/en/quote/02824.HK.md) - [518850.CN](https://longbridge.com/en/quote/518850.CN.md) - [GOEX.US](https://longbridge.com/en/quote/GOEX.US.md) - [IAU.US](https://longbridge.com/en/quote/IAU.US.md) - [159934.CN](https://longbridge.com/en/quote/159934.CN.md) - [GDXW.US](https://longbridge.com/en/quote/GDXW.US.md) - [SLVR.US](https://longbridge.com/en/quote/SLVR.US.md) - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) - [GBUG.US](https://longbridge.com/en/quote/GBUG.US.md) - [82824.HK](https://longbridge.com/en/quote/82824.HK.md) - [JNUG.US](https://longbridge.com/en/quote/JNUG.US.md) - [NUGT.US](https://longbridge.com/en/quote/NUGT.US.md) - [PICK.US](https://longbridge.com/en/quote/PICK.US.md) - [GDXU.US](https://longbridge.com/en/quote/GDXU.US.md) - [COPJ.US](https://longbridge.com/en/quote/COPJ.US.md) - [SIVR.US](https://longbridge.com/en/quote/SIVR.US.md) - [SLVP.US](https://longbridge.com/en/quote/SLVP.US.md) - [COMT.US](https://longbridge.com/en/quote/COMT.US.md) ## Related News & Research - [Alcoa EVP and General Counsel Andrew Hastings sells 6,000 shares for $305,412.00](https://longbridge.com/en/news/296266157.md) - [$100 Invested In Kinross Gold 10 Years Ago Would Be Worth This Much Today](https://longbridge.com/en/news/296126936.md) - [BUZZ-Australia's Equus Energy logs biggest intraday jump on Alcoa gas supply deal](https://longbridge.com/en/news/295865346.md) - [Copper Stocks To Watch As AI And Electrification Tighten Supply](https://longbridge.com/en/news/296030572.md) - [Mapping the Market: Gold miners' rally may have further to run](https://longbridge.com/en/news/296335836.md)