https://www.washingtonexaminer.com/policy/economy/signs-inflation-peaking-commodities?
Commodity prices are tumbling in the latest sign that the blistering rate of inflation might be leveling off.
West Texas Intermediate crude, the U.S. oil benchmark, fell more than 8% on Tuesday and was trading at less than $100 per barrel for the first time since early May.
Meanwhile, copper has plunged below $8,000 per ton, off from the more than $10,000 it was trading at in March and April, the latest sign that inflation might be peaking.
Gas prices in the United States have now fallen for 21 days in a row after lurching upward as Russia's invasion of Ukraine became even more entrenched. The average price of a gallon of gas is now sitting at about $4.80 — while still high, it's more than 20 cents less than when prices peaked last month.
Lumber, a key building material, has also been falling for the past several months, while cotton has shed more than a third of its price since early May.