IHS Materials Price Index chalks up fourth weekly gain

The materials price index (MPI) from Global Insight by IHS Markit has reported the fourth week of consecutive gains, adding 0.5% last week. IHS Markit economist Cole Hassay said the increase was more broadly based than in recent weeks, with six of the ten subcomponents rising. Freight and ferrous metals were the biggest movers, increasing by 3.8% and 2.3%, respectively.