Inflation in the UK hit another 40-year high in July with rising food and energy costs, and the cost-of-living crisis worsened to record levels. According to the ONS, the United Kingdom’s consumer price index (CPI) rose 10.1% in July from the same month a year earlier. This was the strongest increase since February 1982, compared …
UK inflation at highest level in 40 years in July Read More »
The Australian Bureau of Statistics (ABS) reported that the Australian wage price index increased by 2.6% year-on-year in Q2 2019, but is still below the rate of inflation. The Australian wage price index rose by 0.7% in the second quarter, the third consecutive increase. According to the Australian Bureau of Statistics, wages increased by 2.6% …
Australia’s wages rose in Q2/22, but less than inflation Read More »
The UK will import Australian gas next week as pressure mounts on European energy supplies. According to commodity analyst Kepler, Australian natural gas (LNG) is scheduled to arrive in the UK on August 22. Normally, Australia does not have a gas distribution policy for far-flung countries, but European countries have been trying to replace Russia’s …
The People’s Bank of China (PBOC) injected 2 billion yuan (about $295 million) into the Chinese financial system on Tuesday via a 7-day reverse repo deal with an interest rate of 2%. The PBOC said today’s financial injection is aimed at stabilizing liquidity in the banking system. A reverse repo is a procedure whereby the …
China’s central bank allocates 2 billion yuan to increase bank liquidity Read More »
Enterprise Singapore, Singapore’s trade promotion agency, said Singapore’s non-oil exports (NODX) grew 7% slower year-on-year in July, following an 8.5% increase in June, the 20th consecutive month of growth. The report states that exports of electronic and non-electronic products also increased. At the same time, exports to the top 10 markets increased mainly due to …
Japanese manufacturers’ business sentiment improved in August after the downturn in July. Service sector sentiment rose for the second month to its highest level in almost 3 years. Prospects for further recovery are weakening due to inflationary pressures, the renewed rise in COVID-19 cases in Japan, and weak supply dynamics for key components such as …
Japan’s manufacturer sentiment has risen to its highest level in 7 months Read More »
The Reserve Bank of New Zealand (RBNZ) raised its policy rate for the seventh consecutive time on August 17, signaling that it will accelerate its aggressive monetary tightening in the coming months to counter a sharp rise in inflation. The RBNZ raised its key interest rate by 0.50% to 3.0%, the highest level since September …
According to the Japanese Ministry of Finance, Japan recorded a trade deficit of 1.44 trillion yen in July. This was due to higher prices for imported goods and the depreciation of the yen. It marks the 12th consecutive month of deficit. The value of imports rose 47.2% year-on-year to 10.19 trillion yen, marking the 18th …
Japan recorded a trade deficit for 12 consecutive months in July Read More »
The Center for European Economic Research (ZEW) announced that the economic sentiment index in Germany fell to -55.3 in August, below analysts’ expectations of -53.8 in July. Sentiment indices were weighed down by fears of inflation and rising living costs. The current economic conditions index fell to -47.6 from -45.8 in July.
According to market research firm Kantar, food inflation in the U.K. rose 11.6% in August, the highest level since 2008, adding £533 ($642) to annual spending in the worst cost-of-living crisis in decades. Kantar noted that inflation is now the highest since supermarket price surveys began 14 years ago. According to Kantar, rising product prices …
Food prices in the U.K. up 11.6% in August, worsening the cost-of-living crisis Read More »