In May, consumer prices in the UK increased by 0.4% compared to April and by 2.4% in annual terms, the Office for National Statistics reported. Both indicators kept the dynamics of April and coincided with the forecasts of analysts. The annual inflation rate is the lowest since March 2017. Excluding food, alcohol, tobacco and energy prices, consumer prices rose 2.1% in May in annual terms. In monthly terms, food and non-alcoholic beverages fell 0.2%. Prices for clothing and footwear increased by 0.2%, for alcohol and tobacco products - by 0.9%. Transport services have risen in price by 1.5%. According to the estimates of the Bank of England, inflation in the country will reach the target of 2.4% in the second quarter, so it will need to raise the base interest rate.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
The Bank of Thailand chief on Monday said that it could take several years for the country’s foreign tourism industry to recover as the economy continues to take a beating from the COVID-19 pandemic. The central bank expects foreign ...