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US consumer prices continued to surge in November, climbing 6.8 per cent compared to the same month in 2020, the biggest jump since June 1982, the government said Friday.
A host of US consumer companies have warned that costs related to tariffs on goods imported from China would weigh on their results. The United States increased tariffs on $200 billion worth of Chinese goods to 25% from 10% in May.
Lower food prices eased India’s July retail inflation on a sequential basis. Data furnished by the National Statistical Office (NSO) showed that the Consumer Price Index
The Biden administration is forecasting that this year’s budget deficit will be $555 billion lower than it estimated back in May, helped by an economy that is rebounding more quickly than had been expected.
South Korea’s consumer inflation faltered to its slowest on record in August while second quarter economic growth was revised down on weaker exports, firming up the case for central bank rate cuts as early as next month.
US retail sales surged in July as consumers bought a range of goods even as they cut back on motor vehicle purchases, which could help to assuage financial market fears that the economy was heading into recession.
Japan’s economy grew much faster than expected in April-June to mark the third straight quarter of expansion, as robust household consumption and business investment offset the hit to exports from cooling global demand.
Turkey’s consumer inflation fell to its lowest level in a year in June thanks to a high so-called base effect and a drop in food prices, potentially paving the way for the country’s first interest rate cut since last year’s currency crisis.
Indian shares rose 1% to close at a record high on Friday, driven by consumer and IT stocks as the country’s retail inflation eased
Sri Lanka’s headline inflation accelerated in May to the highest since 2015 due to rising food and transport costs, as the island nation grappled with its worst economic crisis in seven decades.