Our Materials Price Index (MPI) increased 0.5% last week, building on a 1.3% increase from the week before. Price movement was mixed with five of the ten MPI sub-components down last week. Commodity prices as measured by the MPI are up 86% compared to the same week in 2020, still a strong rate of increase but a slower rate of escalation than seen two months ago. More important, MPI is about 2% below its recent peak in early May. {chart} The largest gains in the MPI were seen in chemical and pulp. The MPI's chemicals sub-component was the larger driver pushing the overall index higher last week, posting a 5.5% gain. ... (full story)