November 10, 2021
“Prices paid by U.S. consumers rose from a year earlier by the most since 1990, reflecting broad-based increases and adding to evidence of building inflationary pressures as companies find more success in passing on higher costs. The consumer price index increased 6.2% from October 2020, according to Labor Department data released Wednesday. The CPI rose 0.9% from September, the largest advance in four months. Both advances exceeded all estimates in a Bloomberg survey of economists. ”
Merkel Advisers Demand ECB Exit Strategy as Inflation Risks Rise
“Germany’s council of economic advisers urged the European Central Bank to publish a strategy for normalizing its ultra-expansive monetary policy in light of building inflation risks. The four-member group sees inflation in the euro-area’s largest economy averaging 3.1% in 2021 and 2.6% in 2022, and warned that persistent supply-chain logjams and rising fuel prices could turn temporary factors into lasting higher rates of inflation.”
Why China’s Real Estate Slowdown Isn’t Like Japan’s
“As China struggles with its most severe real-estate slowdown in years, some have been asking whether the end of Japan’s real-estate bubble in the early 1990s offers a guide. But such comparisons are less helpful than they might appear, according to new research from Bloomberg Economics. Japanese real-estate price growth in the 1980s was far in excess of the growth in gross domestic product, while in China the opposite has been true over the past 10 years, according to Yuki Masujima of Bloomberg Economics.”
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