Just as central banks have been getting out their big guns to fight levels of inflation that had caught them all unawares, global financial markets have sprung another surprise. Rate-setters had been criticised for neglecting accelerating prices in favour of support for growth. Now, it seems possible that they may find themselves accused of the opposite.
就在各大央行祭出重武器对抗让他们措手不及的通胀水平之际，全球金融市场又冒出一个意外。利率制定者此前被指为了支持经济增长而忽视价格上涨，因而受到批评。现在，他们有可能会受到相反的指责。
Over the past few weeks, many of the commodity prices that were at the centre of the current inflationary burst have slumped dramatically. The Brent crude oil benchmark briefly fell below $100 this week, down one-fifth from a month earlier. Copper and iron prices are both one-third lower than their spring peaks. Iron is at its cheapest so far this year, copper cheaper than at any time since January 2021. Timber prices have see-sawed almost all the way back to pre-pandemic levels.
过去几周，处于此轮通胀中心的许多大宗商品价格大幅下跌。油价基准布伦特原油(Brent crude)上周短暂跌破每桶100美元 ，比一个月前下跌五分之一。铜和铁矿石的价格均比春季高点低三分之一。铁矿石处于今年迄今最便宜的水平，铜则比2021年1月以来的任何时候都便宜。木材价格在起起落落间已接近跌回疫情爆发前的水平。