FYI: In each month’s ISM report, respondents are asked which commodities have risen in price and which have declined. Looking at the results of this part of the report helps to show whether any price moves are narrow and specific to a particular sector or broad based across different industries. The more broad the results, the more likely it is that the price increases or decreases will filter into official inflation measures. As shown in the charts below, trends in the number of commodities rising/falling in price tend to track changes in the CPI. More specifically, in the last several months we have consistently seen the number of commodities falling in price exceed the number of commodities rising in price and that has been followed by declines in year/year readings of the Consumer Price Index.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/ism-commodities-survey-ticks-higher-for-the-first-time-since-april/
