Consumption of commodities will continue as the world begins building infrastructure for life without reliable fossil fuel supplies, some would say the new world. Decentralised energy systems as simple as solar torches, dynamo gadgets through to complex remote energy generation and storage. Just keep an eye on Ebay for the 'new world' gadgets appearing. Solar, dynamo etc.
We are going to have a lot higher dependence on batteries than 'instant' energy. Lead and nickel will be the winners here. Even copper because it is the conduit of energy in anything electrical.
There is a lot of infrastructure that is going to be irrelevant in a post peak oil world.
Inflation has to occur in commodities when you consider the energy costs associated with getting metals out of the ground, and grains and fibre off of barren dry lands.
