Thursday, 02 April 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
U.K. Inflation Rises More Than Forecast to Highest in Six Months
Wednesday, 19 February 2020 16:46 WIB | ECONOMY |UK InflationEkonomi inggris

U.K. inflation picked up for the first time in six months, boosted by the cost of energy, motor fuel and air fares.

Consumer prices rose a stronger-than-forecast 1.8% in January from a year earlier, the fastest since July, the Office for National Statistics said Wednesday. Core inflation picked up to 1.6%.

But the acceleration is likely to prove temporary, with inflation expected to fall back in the second quarter and remain below the Bank of England™s 2% target for the next two years.

The benign inflation outlook would make it easier for the BOE to cut interest rates should the economy wobble amid critical trade talks with the European Union, though policy makers are expected to refrain for now. That's because the labor market remains tight and confidence has improved since Prime Minister Boris Johnson's election victory in December.

January's inflation boost from gas and electricity was largely due to a sharp drop a year earlier when the industry regulator introduced its price cap. There was also upward pressure from auto fuel, which rose almost 2%, while air fares fell less than a year ago.

Other figures showed pipeline pressures remained relatively subdued, with output prices rising just 1.1% year-on-year. 

House prices rose an annual 2.2% in December, their strongest increase in more than a year, and surveys suggest the post-election revival in the housing market gathered pace in January. Prices in London, which have borne the brunt of Brexit uncertainty, posted the fastest growth since October 2017.

Source : Bloomberg

RELATED NEWS
U.S. Initial Jobless Claims Leap to Record 6.65 Million...
Thursday, 2 April 2020 19:52 WIB

The number of Americans applying for initial unemployment benefits surged to a new record 6.65 million last week, the U.S. Labor Department said on Thursday, as the full impact of the fallout from the...

U.S. Factory Activity Contracts In March; Orders Tumble To 11-Year Low...
Wednesday, 1 April 2020 21:30 WIB

U.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, reinforcing economists...

U.S. Private Sector Sheds 27,000 Jobs in March: ADP...
Wednesday, 1 April 2020 19:43 WIB

The U.S. private sector shed 27,000 jobs in March, according to a report by payrolls processor ADP, before the worst of the impact of the coronavirus pandemic on the U.S. labor market was seen. Econo...

Consumer Confidence Sinks In March To A 32-Month Low...
Tuesday, 31 March 2020 21:25 WIB

Consumers started to rapidly lose confidence in the economy in March as a deadly coronavirus spread, a new survey shows, and it™s likely to plunge a lot more in the month ahead as millions are throw...

China shows strong factory activity in March...
Tuesday, 31 March 2020 09:19 WIB

An official gauge of China's manufacturing activity rebounded strongly in March as factory production resumed after the coronavirus epidemic was largely put under control in the country. The official...

LATEST NEWS
Gold Extends Rise After Another Surge In Jobless Claims

Gold futures gained ground Thursday, adding to an advance after another large jump in first-time jobless claims. Gold for June delivery on Comex rose $29, or 1.8%, to $1,620.40 an ounce, while May silver advanced 55.1 cents, or 3.9%, to $14.535 an...

U.S. Initial Jobless Claims Leap to Record 6.65 Million

The number of Americans applying for initial unemployment benefits surged to a new record 6.65 million last week, the U.S. Labor Department said on Thursday, as the full impact of the fallout from the coronavirus pandemic on the labor market became...

Oil Rallies 10% After Trump Says He Expects Saudi Arabia-Russia Feud To End Soon

Oil prices rallied on Thursday after President Donald Trump talked up the possibility of Saudi Arabia and Russia ending a squabble that contributed to crude™s massive plunge since last month. West Texas Intermediate futures surged by $2.11, or...

POPULAR NEWS
Gold Futures Settle Lower for a Second Session
Tuesday, 31 March 2020 01:23 WIB

Gold futures fell Monday for a second session, pressured as U.S. benchmark stock indexes climbed and the dollar strengthened. "Gold has been the...

Gold Futures Fall Sharply for The Session, Climb for The Month
Wednesday, 1 April 2020 01:13 WIB

Gold futures fell sharply on Tuesday, but scored a gain for month against a backdrop of ongoing worries about the spread of the coronavirus and...

Gold Prices Down as Asian Markets Report Gains
Tuesday, 31 March 2020 09:41 WIB

Gold prices in Asia were down on Tuesday morning as stock markets gained. Prices of the yellow metal reached $1,645.3 overnight as investors...

Gold Attempts To Bounce Higher To Start April, Second Quarter Amid Coronavirus Spread
Wednesday, 1 April 2020 20:22 WIB

Gold futures were attempting to regain some traction higher on Wednesday to start the new month and quarter, amid expectations of increasingly poor...