Energy and transport costs pushed U.K. inflation back above target last month. Consumer prices rose 2.1% from a year earlier, ending a three- month spell of inflation below the Bank of England™s 2 percent goal, Office for National Statistics figures published Wednesday show. The figure was slightly below the 2.2% forecast by economists. The pickup, from 1.9% in March, was driven by the lifting of the government cap on default energy tariffs. Electricity prices jumped 10.9% and gas increased 9.3%, dwarfing increases seen a year earlier. There was also upward pressure from higher...

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RECENT NEWS

U.S. retail sales unexpectedly declined in April for the second time in three months, weighed down by soft sales of autos and building materials and suggesting consumer spending will remain subdued this quarter. The value of overall sales declined 0.2% after a 1.7% increase the prior month that was the strongest gain since 2017, according to Commerce Department figures released...

Germanys economy emerged from stagnation at the beginning of 2019, returning to growth despite a slump in manufacturing that continues to plague the nation. The figures, showing 0.4% growth, point to some strength across the euro area in the first quarter amid better-than-expected growth in a number of countries. But manufacturing remains weak and the regions outlook...

British workers are enjoying a resurgence of bargaining power as labor shortages leave employers struggling to fill jobs. Basic pay rose an annual 3.3% in the first quarter, close to the fastest pace since 2008, Office for National Statistics figures published Tuesday show. Pay including bonuses rose 3.2%. Wage growth was less than 3% a year ago. The increase came as the number of people in...

According to the monthly inflation report published by the U.S. Bureau of Labor Statistics, the Consumer Price Index (CPI) on a yearly basis in April rose to 2% from 1.9% but fell short of the market expectation of 2.1%. The core CPI, which excludes volatile food and energy prices, came in at 2.1% annually in April. On a monthly basis, the CPI and the core CPI rose 0.3% and 0.1%,...

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, with the overall industrial activity showing a solid improvement in the month of March. Manufacturing output arrived at 0.9% m/m in Mar versus 0.2% expectations and 1.0% (revised from 00.9%) booked in Feb, while total industrial output came in at 0.7% vs. 0.1% expected and 0.6%...

The UK GDP first estimate showed that the GDP figures came in at 0.5% q/q in the first quarter of 2019, up from 0.2% seen in the fourth quarter, while matching the consensus forecasts of +0.5%. While on an annualized basis, the UK economys growth rate arrived at 1.8% in Q1, missing the expectations of 1.8% while decelerating from a 1.4% previous figure. Separately, the UK GDP monthly...

The producer price index rose a modest 0.2% in April, indicating that inflation remains under wraps. Economists polled by MarketWatch had predicted a 0.3% gain. The increase in wholesale inflation over the past year was flat at 2.2%, the government said Thursday. Wholesale prices rose last month for gas and services. Wholesale food costs fell 0.2%. Excluding food, energy and trade margins, the...

Chinas exports fell in April and imports rose, before the abrupt turn in the trade talks that has led to a re-escalation of the dispute with the U.S. Exports dropped 2.7 percent in April, while imports expanded by 4 percent last month, leaving a trade surplus of $13.84 billion, the customs administration said Wednesday. Economists forecast that exports would tick up by 3...

ASIA
Japan's Wage Gains Accelerate in November Despite Gloomy Outlook
Wednesday, 9 January 2019 07:18 WIB Japanese wages rose more than expected in November, offering hope of stronger consumer spending that could fuel inflation if gains are...
UNITED STATES
Asian markets closed for holiday
Monday, 31 December 2018 09:15 WIB Financial markets in Indonesia, Japan, the Philippines and South Korea are closed on Monday for a public holiday. AFP
EUROPE
U.K. Wages Grow at Fastest Pace Since 2008 in Tight Labor Market
Tuesday, 22 January 2019 17:09 WIB Britons are enjoying the strongest wage growth since the financial crisis a decade ago as the labor market tightens. Average earnings excluding...
GLOBAL ECONOMY
Trump Says China Will `Reduce and Remove' Car Import Tariffs
Monday, 3 December 2018 12:08 WIB U.S. President Donald Trump said China has agreed to œreduce and remove tariffs on American cars from 40 percent currently. He gave...

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