Monday, 25 Oct 2021

Economy

Yellen expects high US inflation through mid-2022 before easing

WASHINGTON (BLOOMBERG) – United States Treasury Secretary Janet Yellen said she expects price increases to remain high through the first half of 2022, but rejected criticism that the US risks losing control of inflation. Inflation is expected to ease in the second half of the year as issues ranging from supply bottlenecks, a tight US labour […]

Singapore moves to ward off inflation threat as economy recovers

Policymakers have decidedly shifted their focus from pulling the economy out of its worst recession to warding off what they now consider the main threat to financial and economic stability – inflation. It also means that the outcry over some recent developments such as slowing growth in two of Singapore’s top trading partners, China and […]

China Q3 GDP growth seen hitting one-year low, raising heat on policymakers

BEIJING (REUTERS)- China’s economy likely grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks and sporadic Covid-19 outbreaks and raising heat on policymakers amid rising jitters over the property sector. Data released on Monday is expected to show gross domestic product (GDP) grew 5.2 per cent […]

U.S. wholesale prices rose record 8.6% over 12 months – The Denver Post

WASHINGTON — Inflation at the wholesale level rose 8.6% in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010. The Labor Department reported Thursday that the monthly increase in its producer price index, which measures inflationary pressures before they reach consumers, was 0.5% for September compared […]

Britain's 20-year binge on cheap food is over as costs soar, says 'Chicken King'

LONDON (REUTERS) – Britain’s 20-year binge on cheap food is coming to an end and food price inflation could hit double digits due to a tidal wave of soaring costs that are crashing through the supply chain, Britain’s biggest chicken producer said. As it emerges from the twin crises of Brexit and Covid-19, the world’s […]

Consumer inflation hits a 20-year high in Denver area

Consumer inflation in metro Denver has reached its highest levels since 2001, when the dot-com boom pushed up prices and wages across the economy. Measured on an annual basis, the Consumer Price Index for Denver-Aurora-Lakewood rose 4.5% in September, up from a 3.5% annual pace in July and the highest reading since the 4.7% increase […]

Singapore said to canvass wealth circles on tax ideas

SINGAPORE (BLOOMBERG) – Singapore’s government has been soliciting feedback on its tax regime, including having conversations around wealth taxes, as discourse grows around this potentially sensitive topic. While the government regularly consults various industry groups on fiscal policies, the talks around such taxes appear to have picked up pace following comments by Monetary Authority of […]

Plunging currency, dollar drought worsen Myanmar economic crisis

YANGON (BLOOMBERG) – Myanmar is battling a plunging local currency amid an unprecedented United States dollar shortage, driving up the cost of imports and worsening the economy’s struggle with dual challenges of the pandemic and post-coup financial isolation. The kyat has tumbled about 50 per cent since the military seized power in February which triggered a […]