Analysts have estimated that China’s consumer price index (CPI) went past 5 percent in January on annual basis, Securities Daily reported on Thursday.
Gold eased below $1,360 an ounce in Europe on Thursday as the rising dollar pressured prices, and with Asian buying still light after the Lunar New Year holidays.
Caught between calls to rein in inflation and prop up the fragile economic recovery, BoE's Monetary Policy Committee decided to support the government's fiscal tightening efforts without bumping off the shoots of economic recovery.
India's food inflation eased in end January on moderating prices of fruits and vegetables but annual headline inflation in January is still expected to remain high.
The U.S. Federal Reserve's recent bond purchases have had a helpful effect on financial conditions, with the rise in long-term interest rates largely due to economic optimism, a senior Fed official said on Wednesday.
Economists took their turns encouraging and attacking the policies of money supply managers of the U.S. Federal Reserve System on Wednesday, as the nation faces 9 percent unemployment, slow economic growth and rising federal debt and deficits.
Gold was little changed on Wednesday as the market was underpinned by a dollar drop and Federal Reserve Chairman Ben Bernanke's comment that he had no plans to scrap a massive bond-buying program, indicating interest rates will not rise any time soon.
Federal Reserve chairman said the risk of inflation was “quite low” and that higher prices in emerging markets were unlikely to spill over into the U.S.
Ghana's inflation rate jumped to 9.08 percent in January, the first increase in 19 months and due partly to a 30 percent rise in petrol prices, but analysts still expect the central bank to keep interest rates on hold next week.
Federal Reserve Chairman Ben Bernanke on Wednesday suggested U.S. economic conditions are still too weak for the central bank to pull back on its vast monetary stimulus, despite a welcome drop in the jobless rate.
Stronger economic growth in the United States will eventually lead to rising inflation this year as increased consumer and business spending drive the recovery, according to a Reuters poll of economists released on Wednesday.
Chairman Ben S. Bernanke testimony on The Economic Outlook and Monetary and Fiscal Policy Before the Committee on the Budget, U.S. House of Representatives, Washington, D.C. February 9, 2011
Gold rose back towards yesterday's 3-week peaks in London on Wednesday, pushing higher against all major currencies as world stock markets slipped.
Gold held close to the previous session's near three-week high in Europe on Wednesday, supported by an increased focus on inflation after China's second interest rate hike in six weeks.
UK unemployment rate is expected to peak this year and will remain stubbornly high during 2012, the Confederation of British Industry (CBI) said on Wednesday.
Robert W. Baird forecasts inflation to upswing during the course of 2011, while inflation overall is expected to remain rather benign by historical standards. The brokerage said food and gasoline are among the items poised to see upward price pressure this year.
World stocks fell from this week's 29-month high on Wednesday as China's interest rate rise prompted investors to book profits, while general optimism over global growth sent 10-year U.S. bond yields to nine-month highs.
Shares in Asian developed markets rose and the dollar and Swiss franc eased on Wednesday as investors bet that China's latest interest rate rise would not derail hopes of a sustained economic recovery.
U.S. inflation is still below the central bank's comfort levels and price rises for individual goods or services does not signal broader price pressures are around the corner, a top Federal Reserve policymaker said on Tuesday.
Three critics of the Federal Reserve are set to testify before Congress on Wednesday in a hearing chaired by Rep. Ron Paul, R-TX, that will focus on the effect of the Federal Reserve's policies on job creation and the unemployment rate.
China raised interest rates on Tuesday for the second time in just over six weeks, intensifying a battle in the fast-expanding economy against stubbornly high inflation that threatens to unsettle global markets.
China raised interest rates on Tuesday for the second time in just over six weeks, intensifying a battle against stubbornly high inflation that threatens to unsettle global markets.