Commodity costs falling
www.moneynews.co.uk > General finance > Commodity costs falling
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Money News |
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Commodity costs falling
Mon 29th Sep 2008
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Its research found that while 12 of the 20 commodities it monitored reached record levels this year, 15 of them decreased in August.
Overall, commodity prices rose by 112 per cent in the last five years, which is nearly six times the rate of retail price inflation (19 per cent).
Silver had the biggest monthly fall of 21 per cent.
Crude oil peaked at $146 (£81)a barrel in July but was at $116 (£64) by the end of August.
Clerical Medical put the drops down to lessening demand from consumers and the strengthening dollar.
Earlier this year, Clerical Medical found that pensioner inflation has increased by 36 per cent since 1998.
This was put down to rising housing costs and the increasing price of food.
Food and non-alcoholic drinks take up a larger proportion of pensioner budgets than in other types of household.
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