Consumer price inflation increased to 0.6% in June from 0.5% in May, the Office for National Statistics said.
Lockdowns and panic food buying due to the coronavirus pandemic could ignite world food inflation even though there are ample supplies of staple grains and oilseeds in key exporting nations, a senior economist at FAO and agricultural analysts said.
Annual consumer price inflation rose to 1.0% in July from 0.6% in June, the Office for National Statistics said. Clothing and footwear prices were the biggest contributor to the rise in inflation.
Brazil’s inflation in July rose for that month the most in four years, an official data showed, driven by fuel and housing costs, although the annual measure remained significantly below the central bank’s year-end target.
Singapore’s core inflation gauge fell to its lowest level in more than a decade in July, official data showed on Monday, amid soft consumer spending due to the coronavirus pandemic and a steep fall in electricity prices.
India’s central bank (CB) kept key interest rates on hold on Thursday as it sought to contain a rise in retail inflation, though it vowed to keep policy sufficiently loose to help revive growth in the coronavirus battered economy.
China’s consumer inflation edged up in July, official data showed Monday, partly because of rising food prices from flood-related disruptions and as the country recovers from the coronavirus outbreak.
Swiss consumer price inflation touched a 29-year high of 3.4 per cent in June, more than economists had expected and the first time inflation in Switzerland has topped 3 per cent since 2008.
Turkey’s annual inflation rate jumped to a 24-year high of 78.62 per cent in June, data showed on Monday, just above forecast, driven by the impact of the Ukraine war,
Britain’s inflation rate dropped in March when oil prices tumbled and the coronavirus crisis escalated, official data showed on Wednesday, with a fall in clothing and footwear prices signalling how cautious shoppers were turning.