Mike Henry says volatile commodity prices having dramatic effect
Praveen Menon
Prices of oil, metal and other commodities have soared as fighting in Ukraine has intensified, adding to concerns that the rising prices will contribute to higher inflation rates, which are already at the highest in decades. “We have seen hundreds of percentage increases of prices on a range of commodities. That is going to have a spillover economic effect on inflation, potentially on global growth.”Demand-led inflation, however, will be good for BHP as it will drive a greater demand for resources and thereby push prices, he said.
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