Inflation to stay above target and unemployment to rise to 3 million

This is included in the latest forecast from the Centre for Economics and Business Research (Cebr), which has been voted the best GDP forecaster for 2011. The Cebr forecasts that increases in oil and commodity prices – reflecting the impact of quantitative easing in the US and Eurozone – mean that their inflation forecast has had to be raised sharply … Continue reading

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Higher food prices are here to stay

This is according to a new report by the OECD and the UN Food and Agriculture Organisation (FAO). The OECD-FAO Agricultural Outlook 2011-2020 says that a good harvest in the coming months should push commodity prices down from the extreme levels seen earlier this year. However, the Outlook states that over the coming decade real prices for cereals could average as … Continue reading

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Commodities to blame for higher shop prices

Food inflation increased to 4.0% in September, from 3.8% in August, according to the British Retail Consortium (BRC) – Nielsen Shop Price Index, published today. Non-food inflation also rose to 0.7% from 0.5% in August. Overall shop price inflation increased to 1.9% in September from 1.7% in the previous month, which took it to its highest rate for five months. … Continue reading

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International Economic Update

The Federal Reserve Bank of Dallas has just published an International Economic Update by Patrick Roy. This examines the dramatic turnaround in growth in the second quarter in a number of emerging economies. Although the substantial growth in some Asian countries could be put down to strong trade ties with China and India, Roy points out that most of these … Continue reading

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