China consumer inflation rises 0.9% in March

Undaunted by the Boston Marathon bombings big crowds lined the route of London's mass road race on Sunday to cheer on around 36,000 runners many of whom

The NBS said that mining inflation cooled to a still-brisk 33.7% over the year, down from 36.1% in February, while raw materials prices grew by 14.9%, below the 15.5% level reported previously.

The pound's plunge since the European Union referendum vote is putting the squeeze on consumers as companies pass down soaring costs linked to the Brexit-hit pound.

At its last policy review on February 8, 2017, while holding rates at 6.25 per cent, the RBI had changed its policy stance from "accommodative" to "neutral" leaving it free to move either way with rates.

United Kingdom inflation remained at 2.3% in March, unchanged from February and the second month inflation has surpassed the Bank of England's 2% target, according to statstics from the ONS.

Sheng Guoqing, a bureau analyst, said price rises in non-food sectors were overshadowed by price decline in food, resulting in mild inflation in March.

Sterling was flat against the euro at 1.1775 and United States dollar at 1.2505 amid the latest jobs report from the Office for National Statistics (ONS).

"With wages growing at around 2 per cent people's disposable incomes will be falling and that means consumers' spending will fall unless households either borrow more or dip into their savings". However, the gains are also running largely flat against the benchmark consumer price index, which remained stuck at its fastest pace in almost four years last month, the ONS said Tuesday. The cost of flying soars around the Easter holiday period. Costs for health care, housing, transportation and communication all were seen rising. In 2016, air fares rose by 22% in March compared to a fall of 3.9% this year.

There's still likely to be a squeeze on consumers, with the Bank of England predicting that wage growth will remain "modest". "This reflects the depreciation of sterling feeding through into higher import costs, eg food and fuel".

"The IIP data clearly shows the fragile nature of industrial and manufacturing growth which has been languishing consecutively for several years now", said Sunil Kumar Sinha, Principal Economist, India Ratings and Research. Forecasts called for a monthly drop of 0.2%.

United Kingdom living standards are under more pressure than at any time in 2 1/2 years and the squeeze is getting tighter. This puts the jobless rate at 4.7%, unchanged from the prior month and in line with estimates, while the employment rate was steady at 74.6%, which is the joint highest since records began.

The pound extended its gains for a third day on Wednesday after United Kingdom data showed the number of unemployed Britons continue to fall in the three months to February.

Relacionada:

Comentarios


Otras noticias