IT&Software

China January consumer inflation quickens to 2.5 percent, beating forecasts

China January consumer inflation quickens to 2.5 percent, beating forecasts

As per the data, food inflation basket witnessed contraction for the second month in a row with inflation at (-) 0.56 per cent in January as against (-) 0.70 per cent in December.

Inflation pressure remains, however, as the price paid for raw materials by United Kingdom manufacturers jumped 20.5% on the year, the fastest annual pace since September 2008.

The gain was higher than a 5.5 percent rise in December and market estimates of 6.3 percent.

Rising energy costs have recently become a prime source of inflation, reversing a trend in recent years in which falling oil prices were suppressing inflation.

In addition, Boston Fed President Eric Rosengren, a long-time dove who last year switched tack and began pushing for tighter monetary policy said the central bank may need to raise interest rates a bit more aggressively than the thrice-per-year pace forecast by policymakers.

The annual increase was below consensus forecasts for a steeper increase to 1.9%, although this was still the highest annual rate since June 2014.

However, Nossek does not expect inflation to reach much higher than 2 per cent as he believes the oil price lacks momentum - despite production cuts from Opec and non-Opec nations. USA crude CLc1 settled down 0.2 percent at $53.11 and Brent LCOc1 closed down 0.4 percent to $55.75 a barrel.

The pace quickened from the 2.1 percent rise in December as the Lunar New Year Holiday pushed up food, transport and travel expenses, according to Sheng.

Toddler Lavontay White killed in Chicago gang shooting broadcast on Facebook Live
Jones spotted three people outside his home, determined they didn't belong there and went inside and got a handgun, police said. Johnson said officials would find the shooter because his department had "promising leads".


However, the rising costs in food and fuel were partially offset by prices for clothing and footwear, which fell by more than they did a year ago.

In January alone, food prices increased by 2.3%, led by a 3.4% jump in pork prices, a staple of the Chinese diet.

Retailers face higher costs from imported goods, fuel and the national living wage, but are generally engrossed in price wars to win market share. It was the largest monthly increase in over a year.

Kathleen Brooks, research director at City Index told What Investment that one of the factors which dampened inflation in recent months has been the continious pattern of discounting by retail companies, such as Kingfisher and Tesco.

So-called core producer prices have climbed 1.6% in the past year, down from a two-year high of 1.8% two months ago.

Petrol rose to 118.6p per litre in January, up from 114.6p the previous month, and 101.8p in January 2016. In open market operations earlier this month, it raised the lending rates to banks by 10 basis points, a move widely interpreted as a shift towards a more neutral monetary policy as economic fundamentals improved.

Food prices showed the smallest annual decrease since July 2014 as the cost of chocolate and candies rose by nearly five per cent on the month.


  • $89000 Drug: Marathon Charging $87800 More Than Rx's Price Overseas

    $89000 Drug: Marathon Charging $87800 More Than Rx's Price Overseas

    While Emflaza has been available globally for the past few years as a DMD therapy, it was not available in the United States. Even at a cost of $89,000, patient advocacy groups are enthusiastic about the FDA approval of deflazacort.
    Israel Carries Out Second Round of Strikes on Gaza

    Israel Carries Out Second Round of Strikes on Gaza

    After the devastating conflict of 2014, Israel and Hamas have observed a brittle ceasefire along the largely closed border area. Earlier on Monday morning, unknown militants fired two makeshift rockets from northeast Gaza into southern Israel.
    Putin ready to meet with Trump - Peskov

    Putin ready to meet with Trump - Peskov

    He said that the date of the meeting would be probably discussed during a phone conversation between Putin and Trump. New York Times columnist Roger Cohen on president-elect Trump and Russian Federation .
  • Azerbaijan submits its oil output data to OPEC

    Azerbaijan submits its oil output data to OPEC

    The next meeting of the committee set up to monitor oil output cuts by OPEC and non-cartel producers is scheduled for March. They said Russia's oil output averaged at 1.516 million tonnes per day, or 11.11 million bpd last month.
    Millwall and Fulham shock Premier League sides in FA Cup

    Millwall and Fulham shock Premier League sides in FA Cup

    I've said it all along we need these players but maybe the club are best to answer when and where that's going to happen". Millwall caused another cup upset at the Den as they claimed their second Premier League scalp of the competition.

    Shia LaBeouf charged with assault and harassment

    Shia LaBeouf has been charged with misdemeanor assault following an alleged altercation at his anti-Trump art installation. Members of the public are invited to come stand in front of the camera and recite the phrase " he will not divide us ".
  • President Trump calls reports that campaign had contact with Russian Federation  'fake news'

    President Trump calls reports that campaign had contact with Russian Federation 'fake news'

    He repeated that he believes it would be much better if Russian Federation and the United States "got together and got along". You know why? Because it is a illegal process and the press should be ashamed of themselves".
    Lamborghini Cars Subject To Recall Due To Fires

    Lamborghini Cars Subject To Recall Due To Fires

    The affected models include the Aventador which sells for around US$400,000 and the rare US$4 million Venono model. The Aventadors included in this recall include models produced between March 22, 2011 and December 5, 2016.

    University of Alaska warns some students, faculty not to leave US

    We will continue to gather information and evaluate the impact this order may have on member of our University community . UVA confirmed more than 60 members of the UVA Community have been directly impacted by the executive order.
  • Water begins to spill over Oroville emergency spillway

    Water begins to spill over Oroville emergency spillway

    The partial collapse of the spillway at the Lake Oroville dam is sending blankets of dirt and debris into the hatchery. Use of the emergency spillway would only increase damage to the hatchery, Morse said.

    "Iran should be careful", Trump warns

    Trump's travel ban is also a source of tension - Iran was one of the seven Muslim-majority countries included in the ban. One of the many points of disagreement: Some among the Islamic theocracy do not accept Israel's right to exist.
    The gold price appears indifferent while Doomsday Clock moves

    The gold price appears indifferent while Doomsday Clock moves

    The Doomsday Clock has been maintained by the members of The Bulletin of the Atomic Scientists' Science and Security Board since 1947.