Wednesday, 19 June 2013

Sterling Commodity Prices

This graph shows the real cost of commodities in sterling terms, monthly and as a moving average, based on the IMF price index for all commodities.

The fact that this measure remains so high, around 2.5 times its level for the period up to around 2005, goes some way to explaining continued inflationary pressure in the UK in the face of weak wage growth.

Based on:
US$ commodity price index: PALLFNF, source IMF
US$ / £ exchange rate: XUMAGBD, source Bank of England
RPI, source ONS

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