Commodities prices continue to rise, according to IHS Markit Materials Price Index (MPI), but growth is expected to slow going forward. As of March, prices are 68% higher than a year ago.

“The demand-side factors that have been driving prices higher for the past year—rebounding manufacturing activity, generous government stimulus, a weaker US dollar and investor buying – remain in force, though three of the four have begun to signal a change,” John Mothersole, pricing and purchasing research director at IHS Markit, said in a press release. “We expect the rise in goods price inflation to prove temporary as the market balances, the supply and demand of physical commodities improves and fundamentals reassert themselves.”

IHS Markit largely attributes a coming shift in momentum to a reduction is Chinese manufacturing. Additionally, a recent rise in U.S. interest rates could cause investors to sell assets considered riskier investments, such as commodities. While this applies to prices for the majority of materials, IHS Markit predicts semiconductor prices will continue to rise, due to a supply shortage, at a rate of 20% by the end of 2021.