October 11, 2023
United States:
US Producer Prices Rise by More Than Forecast on Gasoline, Food
Prices paid to US producers rose by more than forecast in September, bolstered by higher energy costs that continue to wrinkle the path toward sustainably lower inflation.
The producer price index for final demand advanced 0.5% from a month earlier, marking the third-straight increase, according to the Bureau of Labor Statistics.
The cost of gasoline increased 5.4%. Excluding food and energy, the PPI climbed 0.3%.
United Kingdom:
UK Wage Growth Cools as Job Cuts Mount and Firms Cap Costs
UK starting salaries and pay for temporary workers rose at their slowest pace in two and a half years in September, adding to signs that the labor market is cooling as higher interest rates weigh on the economy.
A survey from KPMG and the Recruitment and Employment Confederation found employer budgets under strain and an increased number of job candidates following a jump in redundancies. Permanent staff hiring continued to decline, albeit at a slower pace.
Asia:
IMF Caught Off Guard as China Strikes Sri Lanka Debt Deal
China reached a tentative debt agreement with Sri Lanka, front-running separate talks the International Monetary Fund and other creditors are holding with the South Asian nation and catching them by surprise.
The deal between Export-Import Bank of China and Sri Lanka was reached late last month, China’s Foreign Ministry said Tuesday, without providing details of the pact.
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