U.S. Consumer Prices Increased in March by Most Since 2012
“U.S. consumer prices climbed in March by the most since 2012, adding to evidence of budding inflationary pressures as the economy reopens and demand strengthens. The consumer price index increased 0.6% from the prior month after a 0.4% gain in February, according to Labor Department data Tuesday. A jump in the cost of gasoline accounted for almost half the overall March advance. The median estimate in a Bloomberg survey of economists called for a 0.5% rise.”
U.K. Economy Rebounds in February as End of Lockdown Nears
“The U.K. economy rebounded in February as a mass vaccination program and the prospect of a loosening of coronavirus restrictions lifted consumer confidence. Gross domestic product rose 0.4% following a revised 2.2% decline in January, the Office for National Statistics said Tuesday. All the main sectors of the economy saw output rise. The economy remains 7.8% smaller than it was before the pandemic hit Britain in February 2020.”
China’s Trade Surges as Global Economy Recovers from Pandemic
“China’s trade jumped in March, a sign that the global recovery from the Covid-19 pandemic is well on track as vaccine rollouts around the world pick up pace. Exports climbed 30.6% in dollar terms in March from a year earlier, customs data showed Tuesday, albeit lower than the 38% median forecast in a Bloomberg survey of economists. Imports jumped 38.1%, beating expectations and leaving a trade surplus of $13.8 billion for the month.”
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