...simple explanation ...the consumer is hurting, so is buying...

...simple explanation

...the consumer is hurting, so is buying less goods/things but need to pay for services like rent, healthcare while wages for common people rising so service providers must increase their charges.

...less things/goods bought mean less industrial metal commodities consumed.

Core goods (blue) still deep in deflation territory while core services inflation (orange) is still elevated ... latter resumed its move lower in June, however
https://x.com/LizAnnSonders/status/1811715738266149191