A rise in prices, lasting many years and encompassing many commodities – significantly above the long-term trend.

Historically, long-term increases in real commodity prices are usually the result of positive macroeconomic developments. In the 1950s, 1960s, and between 2000 and 2012, Supercycles were accompanied by strong growth phases in the global economy.

Nonetheless, the supercycle is considered one of the biggest risks for the global economy: Rising commodity prices are seen as a brake on growth, they weigh on the stock markets and drive up inflation.

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