Commodity prices in energy and agriculture fell in August 2014. Natural gas prices in the US fell by 3.8% for the first time in nine months as a result of supply stockpiles and mild weather. Pork prices plunged by 15.1% from the 29-year high seen in July. Falling energy and agricultural prices both lower production costs for businesses and increase purchasing power for consumers, which boost GDP in affected markets. Looking forward, we can expect the price gap between crude oil in the US and Europe to widen in the coming months.
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