Inflation soared to 9.1% in June, marking its fastest annual rate since November 1981. According to CME Group, traders have now assigned an 83% probability that the Fed will hike rates by a full point later this month. Consequently, recession fears are rife as consumer sentiment keeps deteriorating.
However, despite rising prices, demand for the basic materials industry remained robust as construction activities resumed. Moreover, generous administrative investments are driving further growth.
