by Hale Stewart (originally published at Bonddad blog)
There Is No Commodity Based Inflation
Consider the following charts (the top three area daily; the bottom is weekly):
All prices are either declining or stable.
The only major ETF that is showing strength is the industrial metals ETF (this is a weekly chart):
This explains why non-food and energy prices are subtracting from prices:
This is one reason why overall inflation is so weak globally.