Tag: food prices

China’s inflation rate eases in August

China’s inflation rate eases in August

Inflation in the world’s second largest economy eased last month after reaching a 3-year high in July. According to the National Statistics Bureau, consumer prices rose by 6.2% in August on an annual basis, compared with 6.5% the previous month. Several other economies throughout the world are battling with higher inflation, particularly in Asia, which [...]

September 9, 2011 | 0 Comments More
Euro zone interest rates remain on hold

Euro zone interest rates remain on hold

The European Central Bank (ECB) has today opted to leave interest rates unchanged at 1.5% - for the second consecutive month. Rates were lifted from the historic low of 1% in April and then raised further to 1.25% in July in a bid to curb rising inflation. Many major economies are battling with higher inflation, [...]

September 8, 2011 | 0 Comments More
Global food prices up 33% in July

Global food prices up 33% in July

A report by the World Bank has revealed food prices are up 33% in the year to July on the back of volatile oil costs. Crude oil prices are up 45% on the year (due to political unrest in the Middle East and North Africa) and this has affected production and transport costs, all contributing [...]

August 16, 2011 | 0 Comments More
Hong Kong inflation reaches 35-month high

Hong Kong inflation reaches 35-month high

Hong Kong’s inflation has hit a 35-month high, driven by food prices and rising housing costs. According to the Census and Statistics Department, the consumer price index hit an almost three-year high of 5.6% in June on annual basis. The rate is the highest since July 2008 and is up from 5.2% in May. The [...]

July 22, 2011 | 0 Comments More
Chinese inflation hits 3-year high in June

Chinese inflation hits 3-year high in June

Inflation in the world’s second largest economy reached the highest level in 3 years in June – suggesting that the central bank will continue to lift interest rates. Just last week, the People’s Bank of China raised rates for the third time this year to combat stubbornly high inflation. Many other central banks in Asia [...]

July 11, 2011 | 0 Comments More
BRC: Food price inflation surges

BRC: Food price inflation surges

According to the British Retail Consortium (BRC), shop price inflation rose in June on the back of growing food prices. The BRC said shop price inflation surged to its highest rate since October 2008 in June. Higher petrol and commodity costs lifted shop prices to 2.9% in June from 2.3% in May while food inflation [...]

July 6, 2011 | 0 Comments More
BIS warns of low interest rates

BIS warns of low interest rates

In its annual report, the Bank for International Settlements (BIS) has warned that global interest rates need to rise in order to tame inflation. The report also said low interest rates are a threat to world financial stability. In the aftermath of the financial crisis, central banks opted to slash interest rates in an effort [...]

June 27, 2011 | 0 Comments More
Chinese inflation hits 34-month high

Chinese inflation hits 34-month high

Inflation in the world’s second largest economy reached the highest level in 34 months in May as food prices continue to rise. Consumer prices rose by 5.5% in May on an annual basis – higher than expectations of an annual rate of 5.3%. Food prices (the primary factor behind stubbornly high inflation) remain high, rising [...]

June 14, 2011 | 0 Comments More
UK inflation remains at 2½-year high in May

UK inflation remains at 2½-year high in May

The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) held steady at an annual rate of 4.5% in May – the highest level since October 2008. However, the figure was in line with forecasts and high inflation has been attributed to rising energy and food prices. Today’s figures mean inflation continues to [...]

June 14, 2011 | 0 Comments More
ECB keeps interest rates on hold

ECB keeps interest rates on hold

The European Central Bank (ECB) has today elected to keep interest rates on hold at 1.25% but hinted that rates may rise again next month. In April, the ECB lifted rates from 1% to 1.25% in a bid to tame rising inflation in the 17-member euro zone – it was the first time in almost [...]

June 9, 2011 | 0 Comments More
Euro zone inflation rises to 30-month high

Euro zone inflation rises to 30-month high

According to figures from Eurostat today, euro zone inflation edged higher to 2.8% last month from March’s figure of 2.7%. The figure, which was more than expected, is the highest since October 2008 and comes as food and energy prices continue to rise. Last month, the European Central Bank (ECB) raised interest rates from 1% [...]

May 16, 2011 | 0 Comments More
Indian inflation eases in April

Indian inflation eases in April

India’s wholesale price index, the country’s main inflation rate, eased last month to an annual 8.66% from March’s figure of 9.04%. However, the figure was still above the 8.48% expected by analysts and comes as fuel and food prices continue to rise. The food price index increased 8.71%, while the fuel price index rose 13.32% [...]

May 16, 2011 | 0 Comments More
Chinese inflation eases in April

Chinese inflation eases in April

Inflation in the world’s second largest economy cooled last month as food prices eased slightly. Consumer inflation fell to 5.3% in April on an annual basis, down from March’s 3-year high of 5.4%. Today’s figures suggest attempts by the Government to rein in prices are having a positive impact. There have been fears of the [...]

May 11, 2011 | 0 Comments More
Asia’s economic recovery under threat from soaring food prices

Asia’s economic recovery under threat from soaring food prices

A report by the Asian Development Bank (ADB) has warned soaring food and fuel prices threaten to push millions into extreme poverty and hamper economic growth in Asian economies. Previous reports have suggested that Asia is leading the way in the global recovery with staggering economic growth figures but food price inflation is threatening growth [...]

April 26, 2011 | 0 Comments More
China’s house price growth eases in March

China’s house price growth eases in March

The National Bureau of Statistics has today revealed Chinese property growth eased in March. China‘s property prices have remained stubbornly high despite several Government incentives to avoid a property bubble. The country continues to grapple with high inflation in property and food prices. However, property prices slowed in March with fewer cities recording an increase, [...]

April 18, 2011 | 0 Comments More
US inflation rises more than expected in March

US inflation rises more than expected in March

The US Labor Department has today revealed consumer prices climbed to 2.7% in March from 2.3% in February. The rise, which was more than expected, was attributed to higher food and petrol prices. Meanwhile, on a monthly basis, consumer prices rose by 0.5% in March. Inflation is rising in many economies throughout the world, particularly [...]

April 15, 2011 | 0 Comments More
Food prices soaring to dangerous levels

Food prices soaring to dangerous levels

According to the World Bank, soaring food prices have pushed more than 40 million people into poverty in the last year. Worryingly, a further 10% increase in food prices would push 10 million below the extreme poverty line - defined as an income of less than $1.25 a day. Robert Zoellick, World Bank president, was [...]

April 14, 2011 | 0 Comments More
South Korea lifts inflation forecast

South Korea lifts inflation forecast

The Bank of Korea has lifted its inflation forecast for the 2011 year as food and oil prices rise. Inflationary pressures are rife in Asia and many central banks have opted to hike interest rates in an attempt to combat rising prices. The latest figures from Statistics Korea showed the consumer price index rose by [...]

April 13, 2011 | 0 Comments More
UK inflation to hold steady at 4.4% in March

UK inflation to hold steady at 4.4% in March

The Office for National Statistics (ONS) is scheduled to announce the UK inflation rate for March tomorrow morning, with analysts expecting the annual rate to hold steady at the 28-month high of 4.4%. With inflation more than double the 2% target, many continue to speculate whether interest rates will be lifted next month. Last week, [...]

April 11, 2011 | 0 Comments More
People’s Bank of China raises interest rates to tame inflation

People’s Bank of China raises interest rates to tame inflation

The People’s Bank of China today lifted interest rates in a further attempt to fight stubborn inflation. The central bank increased the one-year yuan lending rate by 25 basis points to 6.31% and the one-year yuan deposit rate, also by 25 basis points, to 3.25%. The latest figures from China’s National Bureau of Statistics (NBS) [...]

April 5, 2011 | 0 Comments More