Economy
Global inflation news. Europe was the most inflationary region in the world in October
Global inflation news – the most inflationary region in the world last October was Europe, where 58% of all countries in mid-autumn saw year-on-year price increases.
Global inflation rates by country 2022
The study was based on data from the national statistical offices of 193 countries that are members of the United Nations. The final sample included 155 countries that disclosed data for October as of mid-December, from six regions: Asia, Sub-Saharan Africa, the Middle East and North Africa, Europe, and South and North America.
Annual price increases accelerated in October 2022 in 24 European nations, or 58 percent of the region. At the same time, inflation slowed from September in 15 states and remained unchanged in two. The highest annual inflation in the region in October was in Moldova at 33.6%, and the lowest at 3% in Switzerland and Liechtenstein. EURO-BUND FUTURES also suffered, which disappointed many investors.
Europe inflation rates by country 2022 looks as follows: the strongest in Europe, annual price growth in October was accelerated in Italy – by 3 percentage points, from 8.9% to 11.9%. The second place is occupied by Ukraine, where prices rose by 26.6% year-on-year in October against 24.6% in September. The three leaders are followed by Northern Macedonia, where inflation accelerated by 1.1 percentage points, to 19.8%. In five other countries – Belgium, Great Britain, Hungary, Ireland, and Serbia – price growth increased by 1 percentage point.
Along with Europe, sub-Saharan Africa had a significant number of countries with accelerating inflation, in October: there were 17, or 45%, of them in the region. The biggest increases in the annual rate of price growth in mid-autumn were in Rwanda, up 7.1 percentage points, to 31%; and in Sierra Leone, up 3.9 percentage points, to 33%. Meanwhile, Benin, which was deflationary in annual terms back in September, moved into the “inflationary category” in October, registering a price growth rate of 2.1%.
In the Middle East and North Africa region, 40% of countries recorded an acceleration of inflation in October; in North America – 36% of states, and in Asia and South America – a third of countries.
Earlier, we reported that Huawei forecasts revenue in 2022 at the same level as last year.
© Reuters. Russian Central Bank Governor Elvira Nabiullina attends a news conference in Moscow, Russia June 14, 2019. REUTERS/Shamil Zhumatov/File Photo
MOSCOW (Reuters) – Russia’s central bank will need two to three months to make sure that inflation is steadily declining before taking any decision on interest rate cuts, the bank’s governor Elvira Nabiullina told RBC media on Sunday.
The central bank raised its key interest rate by 100 basis points to 16% earlier in December, hiking for the fifth consecutive meeting in response to stubborn inflation, and suggested that its tightening cycle was nearly over.
Nabiullina said it was not yet clear when exactly the regulator would start cutting rates, however.
“We really need to make sure that inflation is steadily decreasing, that these are not one-off factors that can affect the rate of price growth in a particular month,” she said.
Nabiullina said the bank was taking into account a wide range of indicators but primarily those that “characterize the stability of inflation”.
“This will take two or three months or more – it depends on how much the wide range of indicators that characterize sustainable inflation declines,” she said.
The bank will next convene to set its benchmark rate on Feb. 16.
The governor also said the bank should have started monetary policy tightening earlier than in July, when it embarked on the rate-hiking cycle.
© Reuters. FILE PHOTO: Workers walk past an under-construction area with completed office towers in the background, in Shenzhen’s Qianhai new district, Guangdong province, China August 25, 2023. REUTERS/David Kirton/File Photo
SHANGHAI (Reuters) – China’s top planning body said on Saturday it had identified a second batch of public investment projects, including flood control and disaster relief programmes, under a bond issuance and investment plan announced in October to boost the economy.
With the latest tranche, China has now earmarked more than 800 billion yuan of its 1 trillion yuan ($140 billion) in additional government bond issuance in the fourth quarter, as it focuses on fiscal steps to shore up the flagging economy.
The National Development and Reform Commission (NDRC) said in a statement on Saturday it had identified 9,600 projects with planned investment of more than 560 billion yuan.
China’s economy, the world’s second largest, is struggling to regain its footing post-COVID-19 as policymakers grapple with tepid consumer demand, weak exports, falling foreign investment and a deepening real estate crisis.
The 1 trillion yuan in additional bond issuance will widen China’s 2023 budget deficit ratio to around 3.8 percent from 3 percent, the state-run Xinhua news agency has said.
“Construction of the projects will improve China’s flood control system, emergency response mechanism and disaster relief capabilities, and better protect people’s lives and property, so it is very significant,” the NDRC said.
The agency said it will coordinate with other government bodies to make sure that funds are allocated speedily for investment and that high standards of quality are maintained in project construction.
($1 = 7.1315 renminbi)
© Reuters. Russian Central Bank Governor Elvira Nabiullina attends a news conference in Moscow, Russia June 14, 2019. REUTERS/Shamil Zhumatov/File Photo
MOSCOW (Reuters) – Russia’s central bank will need two to three months to make sure that inflation is steadily declining before taking any decision on interest rate cuts, the bank’s governor Elvira Nabiullina told RBC media on Sunday.
The central bank raised its key interest rate by 100 basis points to 16% earlier in December, hiking for the fifth consecutive meeting in response to stubborn inflation, and suggested that its tightening cycle was nearly over.
Nabiullina said it was not yet clear when exactly the regulator would start cutting rates, however.
“We really need to make sure that inflation is steadily decreasing, that these are not one-off factors that can affect the rate of price growth in a particular month,” she said.
Nabiullina said the bank was taking into account a wide range of indicators but primarily those that “characterize the stability of inflation”.
“This will take two or three months or more – it depends on how much the wide range of indicators that characterize sustainable inflation declines,” she said.
The bank will next convene to set its benchmark rate on Feb. 16.
The governor also said the bank should have started monetary policy tightening earlier than in July, when it embarked on the rate-hiking cycle.
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