United States:
US Wage Increases Show Signs of Peaking in Welcome Sign for Fed
“US inflation-adjusted consumer spending rose in April by the most in three months, indicating households were holding up in the face of persistent price pressures by dipping into savings. Purchases of goods and services, adjusted for changes in prices, increased 0.7% from March, Commerce Department data showed Friday. Both goods and services spending advanced in April.”
Europe:
Russia Offers Ukraine Shipping Routes as Global Food Bans Mount
“From prospects for Ukraine getting shipping corridors for its crucial grain cargoes to countries imposing even more export curbs, here’s a snapshot of the latest key food stories from around the world. Three months into the war in Ukraine that’s crippled shipments from a country known as the breadbasket of Europe, Russia pledged to open sea corridors from terminals key for exporting grain.”
Asia
Tokyo Inflation’s Failure to Gain Speed Aids BOJ’s Stance
“The cost of living in Tokyo increased at the same pace as last month, underscoring the nation’s weaker price momentum compared with global peers and offering some support for the Bank of Japan’s stimulus stance.”
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