Inflation rises in key world markets
There are strong inflationary trends in key global economies.
By ET Bureau |
Japanese wholesale inflation hit a 27-year high in July, while consumer confidence struck a 26-year low of 31.4. Prices of goods traded between companies jumped 7.1 per cent, the sharpest increase since an 8.1% rise in January 1981. Consumer confidence index fell to 31.4, the lowest in 26 years.
In China, consumer prices rose 6.3 per cent in July over the same month last year, as against June���s 7.1 per cent. The economy grew by 10.1 per cent in the three months ended June 30, the strongest rate for any major economy, but a decline from the previous quarter���s 10.6 per cent.
In England, consumer price inflation rate leapt to 4.4 per cent in July, making it difficult for BoE to lower rates to ward off the risk of recession. Inflation is now at more than double the government's target of 2 per cent. The 0.6 percentage point jump was the biggest monthly rise since records began in January 1997.
In China, consumer prices rose 6.3 per cent in July over the same month last year, as against June���s 7.1 per cent. The economy grew by 10.1 per cent in the three months ended June 30, the strongest rate for any major economy, but a decline from the previous quarter���s 10.6 per cent.
In England, consumer price inflation rate leapt to 4.4 per cent in July, making it difficult for BoE to lower rates to ward off the risk of recession. Inflation is now at more than double the government's target of 2 per cent. The 0.6 percentage point jump was the biggest monthly rise since records began in January 1997.
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