The Fed says price spikes are transitory, but not everyone agrees. : The price of lumber has fallen more than 40% since its peak in May and other commodities have followed suit, suggesting that some of the price surges that have alarmed lawmakers and investors this spring may fade with time as the economy returns to normal. Skyrocketing demand for lumber thanks to a pandemic-induced home renovation boom, combined with supply constraints caused by pandemic production delays and a pine beetle infestation in some Canadian forests, all helped contribute to an eye-watering surge in prices.