Consumer Inflation in U.S. Moderates While Remaining Elevated
“Prices paid by U.S. consumers climbed in July at a more moderate pace, though not enough to provide major relief from the cost increases weighing on sentiment and driving policy debate. The consumer price index increased 0.5% from June and 5.4% from a year ago, according to Labor Department data released Wednesday. Excluding the volatile food and energy components, the so-called core CPI rose 0.3% from the prior month and 4.3% from July 2020.”
U.K. Travelers Splurge on Booze and Cigarettes After Brexit
“U.K. travelers are heading out for summer vacations in Europe, and they’re stocking up on booze and cigarettes as they go. Those brave enough to navigate the country’s complex “traffic-light” system on quarantine requirements for trips to the European Union can also take advantage of duty-free shopping in post-Brexit Britain.”
Real-Time Data Suggest Asia’s Economy Already Feeling Delta Hit
“Asia’s economies are already showing a hit from the surging delta variant of Covid-19 as consumers stay at home and airplanes idle on the tarmac. Early warning signs are showing up in Google mobility data capturing the impact of government restrictions on movement. Flight capacity in China is pointing to a slump in travel, manufacturing in Southeast Asia is hurting and Australian business sentiment has tumbled.”
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