Russia’s central bank (CB) kept rates unchanged at a record low, deciding against further rate cuts as inflation accelerates and risks rise of fresh sanctions against Moscow, but said a rate cut was still possible later this year.
The annual inflation rate, as measured by the UK's Consumer Prices Index, dived to just 0.2 per cent in August from 1.0 per cent in July, the Office for National Statistics (ONS) said in a statement.
US consumer prices rose solidly in August, with the cost of used cars and trucks accelerating by the most in more than 51 years likely as Americans shunned public transportation because of fears of contracting COVID-19.
The Consumer Prices Index rate advanced to 0.7 per cent last month on rising prices for clothing and motor fuel, the Office for National Statistics said in a statement.
Chinese factory prices hit a more than two-year high in March, data showed on Friday, highlighting the country’s strong recovery but feeding concerns it could filter through to the global economy
British manufacturers suffered a double hit last month as COVID-19 disruption to global shipping combined with new trade barriers with the European Union, according to a survey published on Monday.
Japan’s core inflation slowed to its weakest in about two years in June, data showed on Friday, underlining the nation’s long battle to boost consumer prices and adding to speculation the Bank of Japan (BOJ)
Philippines’ annual inflation eased more than expected in June as food and fuel costs increased at a slower pace, the statistics agency said on Friday, supporting views that the central bank would cut rates at its policy meeting in August.
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.
The Bank of Japan (BOJ) is expected to forecast this week that inflation will remain below its 2 per cent target through the fiscal year that ends in March 2022, sources say, a sign its massive stimulus will stay in place for the foreseeable future.