Commodities prices are surging again

FILE PHOTO: Traders on the trading floor of the open outcry pit at the London Metal Exchange Ltd (LME) in London, where they set benchmark prices of metals such as copper and aluminum by screaming orders at one another. Photographer: Jason Alden/Bloomberg

(BLOOMBERG) -- After a summer breather, the commodities the world relies on for construction, manufacturing and keeping the lights on are surging again.

Aluminum to steel have seen renewed rallies and European gas and power have hit fresh records, while a gauge of spot commodities prices is on the verge breaching a decade-high set in July. That’s threatening faster inflation, increasing consumer costs and putting pressure on central banks to curb the massive stimulus measures behind much of the raw-materials advance.