Export prices in South Korea jumped 18.6% year-on-year in August, the Bank of Korea said on Tuesday (Sept.14), accelerating from an upwardly revised 17.4% rise in July. It was the fastest rise in export prices since February 2009. Export prices for manufacturing products jumped 18.6% on year and export prices for agricultural, forestry and marine products gained 9.6%. Meanwhile, import prices soared
READ MORE
Germany’s consumer price inflation rose to 3.9% year-on-year in August, the highest since December 1993 and in line with market expectations, according to a Federal Statistical Office (Destatis) provisional report published on Monday (Aug. 30). The figure was marked an increase from the previous month when the inflation rate stood at a 28-year high of 3.8%. The end of VAT holiday introduced
READ MORE
The US consumer price inflation (CPI) rate held steady at 5.4% in July, unchanged from June’s 13-year high , the Labor Department said in a much anticipated report released Wednesday (August 11). The pace of growth was expected to dip to 5.3%, according to Wall Street economists, reflecting the low base effect caused by the Covid19 crisis, the re-opening of the economy
READ MORE
China’s consumer-price inflation moved up 1.1% in June from a year earlier, slightly lower than economists’ forecast for a 1.2% gain, on the back of falling pork prices, according to a report by the country’s National Bureau of Statistics (NBS), released on Friday (July 9). Pork prices have now dropped 36.5% from last year’s spike. Pork is a mainstay of the Chinese diet
READ MORE
Banks’ profitability in Morocco recovered strongly in the first three months of the year with aggregate net income for the seven largest Moroccan lenders up 86% yoy, Fitch Ratings said. The improvement was driven by a 28% yoy decrease in loan impairment charges (LICs) and the end of contributions to the Moroccan fund set up to deal with the Covid-19, according to
READ MORE
Global Foreign Direct Investment (FDI) flows dropped 38% in 2020 to $846 billion, the lowest level since 2005, new OECD data and analysis show. That represented only 1% of world GDP, a level not seen since 1999, according to the Paris-based Organisation for Economic Cooperation and Development. Inflows to the OECD area dropped 51% to $389 billion , partly due to significant
READ MORE
Nigeria’s central bank (CBN) kept its key interest rate unchanged at 11.5% during its May 2021 meeting, as widely expected, after data showed the economy advanced by just 0.5% in the first quarter of 2021 from a year earlier, suggesting a slow recovery. “The decision seems reasonable, as the CBN remains squeezed between the necessity to sustain the real economy, as growth
READ MORE