Inflation in Canada was already at the highest in over 30 years in January, but Russia’s invasion of Ukraine is now putting additional pressure on prices, a Statistics Canada official told a House committee on Friday. “Looking ahead, the CPI [consumer price index] is likely to remain elevated. Fears surrounding the global oil supplies sent…
Inflation Mostly a Made in Canada Problem, Finance Committee Hears
The high inflation bout affecting Canadians is not transitory nor mostly tied to a global phenomena, two economics experts told the House finance committee on March 21, but it is instead the product of domestic monetary and fiscal policies. “Inflation is indeed a global problem, but our inflation problem is very much made at home…
Consumers and Markets Agree Consumer Prices Are No Longer Our Chief Concern
March 17, 2022
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Commentary As expected, the Federal Reserve’s policymaking body, the Federal Open Market Committee (FOMC), voted to raise the benchmark federal funds range along with the various monetary policy tools to accomplish this (IOER, RRP). Increasing each by one-quarter point, Chairman Jay Powell and the Fed’s other committee members are trying to send a message to…
January Inflation: What’s Up, What’s Down in the US Marketplace
The U.S. annual inflation rate surged to its highest level since 1982 in January, new Bureau of Labor Statistics (BLS) data show. Last month, the consumer price index (CPI) climbed 7.5 percent, topping the market estimate of 7.3 percent. The core inflation rate, which eliminates the volatile energy and food sectors, advanced 6.6 percent, slightly…
Australian Inflation Surges in Q4, Market Bays for Rate Hikes
SYDNEY—Australia’s core inflation flew to its fastest annual pace since 2014 in the December quarter as fuel and housing costs led broad-based price pressures, a shock that will stoke market speculation of an early hike in interest rates. Data from the Australian Bureau of Statistics out on Tuesday showed the headline consumer price index (CPI)…
China’s Factory Gate, Consumer Inflation Eases Further in December: Official Data
Both China’s factory gate and consumer inflation rose at a slower pace in December, following the fall of some raw material prices, official data showed on Jan. 12. Consumer price inflation also slowed last month as food prices fell, the National Bureau of Statistics (NBS) said in a statement. China’s producer price index (PPI), which…
US Inflation at Nearly Four-Decade High: Here’s What is Getting Most Expensive
As the U.S. annual inflation rate climbed to 7 percent in December, the highest level since June 1982, new data show that almost every category was higher in the 12 months ending in December. Food prices surged 6.3 percent, while energy was up 29.3 percent. New vehicles and used cars and trucks soared 11.8 percent…
Futures Extend Gains as CPI Data in Line With Expectations
U.S. stock index futures extended gains on Wednesday after consumer prices data came largely in line with expectations, easing some concern about faster-than-expected policy tightening by the Federal Reserve. At 8:33 a.m. ET, Dow e-minis were up 147 points, or 0.41 percent, S&P 500 e-minis were up 18 points, or 0.38 percent, and Nasdaq 100…
South Korea’s Consumer Price Index Rising at Record Pace Due to Heavy Reliance on Imports From China
January 8, 2022
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China’s rising raw material costs are driving up the prices of consumer goods in South Korea, said the Bank of Korea. According to a Yonhap News Agency report citing the Bank of Korea, China’s soaring producer price index and export prices driven by its rising raw material costs are adding to South Korea’s inflation pressures,…
China’s Consumer and Producer Price Index at Record Pace
As the end of the year approaches, people across China see higher prices at grocery stores, gas pumps, and even at home as Beijing tries to tame inflation. According to a December report by China’s Bureau of National Statistics, the country’s producer price indexes (PPI) in October and November were up by 13.5 percent and…
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