Britain’s inflation rate unexpectedly overshot the Bank of England’s two percent target on Wednesday, raising the cost of living even before sterling’s slide has had much chance to feed into consumer prices.
The Statistical Center of Iran (SCI) reported a lowered month-on-month inflation rate as the national currency rial keeps recovering against the US dollar despite Tehran’s political and military tensions with the West.
French monthly inflation slowed faster than expected in May, thanks largely to a fall in service sector prices which offset a marked acceleration in food prices, final EU-harmonized data from the INSEE statistics agency showed on Friday.
India's retail inflation likely accelerated to a seven-month high in May on rising food prices, but it is expected to remain well below the target of Reserve Bank of India (RBI), giving it room to ease policy further, a Reuters poll found.
Bank of Japan Governor Haruhiko Kuroda said major central banks may have to become more flexible targeting inflation, as they are missing targets due to the price dampening effects of technological innovations and globalization.
An inflation gauge closely watched by the Bank of Japan (BoJ) accelerated at its fastest pace in almost three years as some retailers passed on rising costs to households, a positive sign for the central bank as it seeks to stoke consumer prices.
The Bank of England could be set a target for house price inflation under plans being explored by the Labour party, with tougher powers to restrict mortgage lending to close the gap between property prices and average incomes.
India’s retail inflation is expected to have accelerated in March on slightly higher food prices but remain under the Reserve Bank of India’s medium-term target of four percent, a Reuters poll predicted.