Global economies facing different challenges according to World Bank

The World Bank has just published its June 2011 edition of Global Economic Prospects. In this it projects that as developing countries reach full capacity, growth will slow from 7.3 percent in 2010 to around 6.3 percent each year from 2011-2013. High-income countries will see growth slow from 2.7 percent in 2010 to 2.2 percent in 2011 before picking up … Continue reading

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China’s April trade surplus will cause problems with the US

China recorded a trade surplus of $11.4bn or £7bn in April. This was from a surplus of only $140m in March but was about four times greater than analysts had been expecting. Why does this pose a problem for the US? It is because many Americans believe that the Chinese currency, the yuan, is undervalued. An undervalued currency means that … Continue reading

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Solid growth for world recovery, but not without its dangers

The world economy is moving from a post-crisis bounce-back to a period of slower growth over this year and next. This is according to the latest Global Economic Prospects 2011 published by the World Bank. The report estimates that global GDP grew by 3.9% in 2010, but will slow to 3.3% this year, before recovering to 3.6% in 2012. Fastest … 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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RPI inflation falls to minus 1.2% to record biggest drop since records began

In April 2009 the Retail Prices Index (RPI) fell from -0.4% in March to -1.2% in April. This was the biggest fall in prices since records began in 1948. The recent fall into negative territory for the RPI has been due to the huge cut in interest rates over recent months, as the Bank of England has reduced rates from … Continue reading

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UK out of step on inflation

Consumer prices in the OECD area rose by 0.9% in the year to March 2009, according to figures released yesterday. This represents a continued fall when compared with the 1.3% price level recorded in the year to February. When taken on a month-by-month basis prices rose by 0.3% in March following a rise of 0.4% in February. The recent trend … Continue reading

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Food price inflation hitting poorest households the hardest

Yesterday, the British Retail Consortium (BRC), published its BRC-Nielsen Shop Price Index for March 2009. This showed that on a year-on-year basis, the price of food in our shops rose by 9.0%, whilst the prices of non-food goods fell by -1.5%, giving an overall rise in the index of 2.0%. When taken on a month-by-month basis, food rose by 0.1% … Continue reading

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