Commodities Index Hits Record as World Rebound Meets Shortages
- Bloomberg Commodity Spot Index surpasses peak seen in 2011
- Rising raw material and energy prices have stoked inflation
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A gauge of commodities soared to an all-time high as a resurgence in demand for raw materials collides with supply constraints, working to fan fears of inflation around the world.
The Bloomberg Commodity Spot Index, which tracks 23 energy, metals and crop futures contracts, rose 1.1% on Monday, topping a 2011 record. The index has surged more than 90% since reaching a four-year low in March of last year.