UK & China Inflation Rampant
U.K. producer prices climbed in April at the fastest annual pace since at least 1986 as raw-material costs jumped.
Prices charged by factories rose 7.5% from a year earlier, the most since records began two decades ago.
Raw material costs rose 2.4% on the month and 23.3% on the year. That was the biggest annual gain since records began.
Food prices rose an annual 9.3%, the most since records began.
China ordered banks to set aside more deposits as reserves for the fourth time this year
after inflation accelerated, approaching the fastest pace since 1996.
Banks must park a record 16.5% of deposits with the central bank, up from 16%.
Driven by food costs, consumer prices rose 8.5% in April from a year earlier and 8.7% in February, the biggest gain since May 1996.
Food costs, which increased 22% in April from a year earlier, are driving this year's surge in inflation.
Meat prices climbed 48% last month. Wheat has climbed 63% in the past year and rice, a staple for half the world, has more than doubled.
Hattip To Bloomberg here and here.
Prices charged by factories rose 7.5% from a year earlier, the most since records began two decades ago.
Raw material costs rose 2.4% on the month and 23.3% on the year. That was the biggest annual gain since records began.
Food prices rose an annual 9.3%, the most since records began.
China ordered banks to set aside more deposits as reserves for the fourth time this year
after inflation accelerated, approaching the fastest pace since 1996.
Banks must park a record 16.5% of deposits with the central bank, up from 16%.
Driven by food costs, consumer prices rose 8.5% in April from a year earlier and 8.7% in February, the biggest gain since May 1996.
Food costs, which increased 22% in April from a year earlier, are driving this year's surge in inflation.
Meat prices climbed 48% last month. Wheat has climbed 63% in the past year and rice, a staple for half the world, has more than doubled.
Hattip To Bloomberg here and here.
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