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1. U.S. Inflation Hits Highest Level Since 2008 2. Inflation Rate in U.S. Climbs to 3.6%, Highest Level Since 2012 3. Fed's Powell: Inflation Is Rising, But It's Not a Short-Term Problem 4. How Inflation Can Affect Your Investments 5. What Is Inflation and How Does It Affect the Economy? 6. 8 Simple Strategies to Protect Yourself From Inflation 7. What You Need to Know About High Inflation 8. Corporate Profits Feel the Squeeze as Inflation Rises 9. How Inflation Affects Your Finances 10. Video: What Is Inflation and How Does It Impact You?
This morning’s UK CPI numbers fail to break the impasse despite them coming in on the (very) high end of expectations. Headline inflation accelerated 1.2% m/m to 3.5% y/y. The core gauge quickened from 3.4% to 3.8% and services inflation – together with elevated pay increase a key worry for BoE’s Pill – shot up to 5.4% from 4.7%, the fastest pace since August of last year. EUR/GBP keeps earlier gains to hold steady around 0.843. High inflation ties the BoE’s hands even though the economy could use some support.
In Australia, the April Monthly CPI Indicator rose 0.8% in the month, leaving annual headline inflation steady at 2.4% – around the mid-point of the RBA’s target band. Being the first month of the quarter, the main updates of interest were on durable goods which are surveyed only once per quarter. There were a few upside surprises here relative to Westpac’s forecast, particularly around footwear, textiles and household contents. The monthly trimmed mean estimate consequently ticked up from 2.7%yr to 2.8%yr, posing some upside risk to our Q2 CPI forecast. As this indicator only provides a ‘partial’ look at inflation, the next two months’ releases are necessary to get a full view.
THE GOVERNMENT hiked its award of Treasury bills (T-bills) auctioned off on Monday as rates mostly declined on expectations that Philippine headline inflation eased further in May. The Bureau of the Treasury (BTr) raised P28.6 billion from the T-bills it offered on Monday, higher than the P25-billion plan, as total bids reached P116.316 billion or […]
In the euro area, focus turns to the May HICP inflation. We expect headline inflation to decline to 2.0% y/y from 2.2% y/y, driven mainly by core inflation falling from 2.7% y/y to 2.4% y/y, based on regional data already released. The expected decline in core inflation is due to base effects and as the monthly price growth in transport services will likely decline following the strong increases in April related to Easter. We expect energy inflation to remain negative due to the recent fall in energy prices and the strengthening of the euro.
By Luisa Maria Jacinta C. Jocson, Senior Reporter HEADLINE INFLATION eased to an over five-year low in May, as utility costs rose at a slower pace, the Philippine Statistics Authority (PSA) said on Thursday. The consumer price index (CPI) rose to 1.3% in May, slowing from 1.4% in April and 3.9% in the same month […]