CHART OF THE DAY: Late Cycle Commodity Inflation

Enough exclamation marks already this morning, Mucker. What about more Late Cycle Commodity Inflation?

A) Oil (WTI) inflated another +0.9% last week to +15.4% in the last month alone and remains Bullish TREND
B) Natural Gas deflated -13.8% last week to -0.1% in the last month and -17.9% in the last 3 months = Bearish TREND

Ex-Oil and the price of Butter, all Commodity prices continue to make a series of lower-highs. That, plus big-league-base effects in Q2 will deliver US Inflation’s Cycle Peak here in Q1. From a Monthly Quad perspective, FEB is peak inflation.