Overseas Headlines – April 13, 2022

United States:

U.S. Producer Prices Jump 11.2% From a Year Ago, the Most on Record

“Prices paid to U.S. producers jumped in March from a year ago by the most in records back to 2010, topping all estimates and underscoring persistent early-stage inflationary pressures that risk feeding through to consumers.”



U.K. Inflation Jumps More Than Expected to 30-Year High of 7%

“U.K. inflation surged to a 30-year-high of 7% last month, intensifying a cost of living crisis that threatens to derail the economic recovery. Consumer prices rose by 1.1% in March alone, the fastest increase on record for that month. It adds to pressure on the government and Bank of England to act, with prices set to surge further this month when a 54% increase in energy costs hit household bills.”



China’s Covid Outbreak Highlights Weak Lending as Borrowers Hold Back

“China’s central bank is struggling to drive up lending in the economy despite cutting interest rates and giving banks a cash boost. With a worsening Covid outbreak locking down mega cities Shanghai and Shenzhen, worries about jobs and incomes mean businesses and consumers are unwilling to take on more debt. Banks are reluctant to extend more loans too as a property downturn drives up bad debts and squeezes profits.”




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