CHINESE DROUGHTS FORCE UP FOOD PRICES May 31, 2011 DROUGHTS in China have placed even greater upward pressure on food prices, provoking a dilemma for the Chinese authorities, as they seek to control inflation. Pork prices have jumped in particular, further inflated by strong demand from May’s holidays. Food prices account for about a third of China’s consumer price index. Slower economic growth is [...]
Spanish inflation slowed in May May 31, 2011 Spanish inflation eased slightly in May, according to the harmonised European Union measure, released yesterday. Consumer price inflation (HICP) came in at 3.4 per cent, down from 3.5 per cent the previous month. Meanwhile, Belgian consumer price inflation held steady at 3.4 per cent. “Given further increases in food and core inflation, in combination with [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 19, 2011 FINANCIAL TIMES MOVE TO QUASH HERMÈS’ POISON PILL Minority shareholders in Hermès have sought to quash the luxury goods group’s poison pill defences devised by its controlling family, potentially bolstering LVMH’s protracted takeover push for its smaller rival. CHINESE SET A NEW STANDARD IN BUYING GOLD China overtook India to become the largest market for [...]
Royal Wedding and sunny weather boost retail sales May 19, 2011 Retail sales climbed more than expected in April, boosted by the extra holiday for the Royal Wedding and record temperatures, official data showed. The Office for National Statistics said sales volumes including automotive fuel rose 1.1 percent last month, well above analysts forecasts for an increase of 0.8 per cent, and the biggest rise for [...]
King’s letter is backed by Osborne May 17, 2011 BANK of England governor Mervyn King sent his sixth letter in 15 months to chancellor George Osborne this week, as inflation shows few signs of returning to its two per cent target. King is obliged to write a letter of explanation every three months as to why inflation remains more than one per cent above [...]
Eurozone hit by sharp leap in core prices May 16, 2011 CORE inflation in the Eurozone shot up in April, it was revealed yesterday, while a senior central bank official signalled more interest rate hikes to come. Core consumer prices (excluding energy, food, tobacco or alcohol) jumped to 1.6 per cent in the single currency area last month, from 1.3 per cent in March and one [...]
UK retailers are serving up higher high street prices May 16, 2011 ACCORDING to a report issued by economic forecasting group Ernst and Young ITEM Club yesterday, UK retailers are in for a difficult time in the years ahead. The report points to rising inflation and energy bills – without corresponding wage increases – leaving households with less disposable income. “World prices for food, fuel and fibres [...]
Eurozone inflation rises May 16, 2011 More expensive energy drove eurozone headline inflation higher in April and core inflation jumped as well, data showed, confirming an earlier estimate and the ECB’s concern about rising inflationary risks. The European Union’s statistics office Eurostat said consumer prices in the 17 countries using the euro rose 0.6 per cent month-on-month, confirming its earlier year-on-year [...]
Inflation needs to fall before rates can rise May 15, 2011 SO another week but the focus is the same. Where’s inflation going and what’s the impact on the consumer and growth? Last week the Bank of England said inflation could hit five per cent and tomorrow April CPI could rebound to an annual rate of 4.4 per cent. For the fourth quarter in a row [...]
Inflation is expected to rise again May 15, 2011 OFFICIAL figures out tomorrow will show whether inflation sprang forward in April, with the Bank of England fearing it could hit five per cent this year. The Bank said last week consumer price inflation could remain above its two per cent target until 2013. In March, inflation surprisingly eased to four per cent annualised – [...]