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The US Department of Labor reported that producer prices in the country rose by 0.6% in March, which was the largest increase since October 2018. In February, the index rose only by 0.1%, and experts had expected its growth to accelerate last month to 0.3%. Producer prices in annual terms showed an acceleration of growth to 2.2% from 1.9% in the previous month. The prices excluding energy carriers, foodstuffs and trade services, rose over the month in the same way as a month earlier - by 1.1%. In annual terms, the figure increased by 2%, which was the lowest growth since August 2017. Wholesale energy prices jumped 5.6%. At the same time, gasoline prices rose at the fastest pace since August 2009, an increase of 16%. Food prices rose by 0.3%, basic goods - by 0.2%. The cost of services increased by 0.3%.
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 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
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 ...
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
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