CPI reflects the current price level of the country = = "The rise of the current price level will affect people's expectation of the future price level = =" The expected rise of the future price level will affect the price of commodity futures. Because commodity futures itself reflects people's expectations of future commodity prices. When the price level tends to rise in the future, it means that the actual price of commodities will fall in the future. So the rise of CPI will lead to the decline of commodity futures.