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The producer price index in the US rose 0.5% in May, seasonally adjusted versus April, which was the last sign that inflationary pressures in the US economy are increasing. Economists had expected growth of 0.3%. Excluding the price of food and energy, prices in May rose by 0.3% in monthly terms, the economists had expected 0.2% growth. In annual terms, producer prices rose 3.1% in May, noting the largest annual increase since January 2012. Without taking into account the price of food and energy, prices increased by 2.4%. Strong inflation may push the Federal Reserve to accelerate interest rate growth this year.
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 ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
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 ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
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