Inflation in Germany reached a two-year high of 1.5 percent in November due largely to an increase in the cost of food and energy. The inflation rate for the previous two months was 1.3 percent. With food and energy removed from the calculation, the November price increase would be 0.9 percent.
Even with the increase, inflation in Germany is still within the 2 percent target range and is well below the UK’s current 3.2 inflation rate.
Source: BBC News
The Labor Department announced that for the month of October, consumer prices outpaced predictions due largely to higher energy prices and a jump in new car prices. Overall however, prices are down from last year and the inflation outlook remains subdued.
Prices for the month of October were 0.3 percent higher than the month before, compared to predictions of 0.2 percent. Core inflation, which excludes energy and food, rose 0.2 percent, compared with analysts’ expectation for a 0.1 percent rise, but when compared to October 2008, prices are still down 0.2 percent.
Associated Press
The US Commerce Department said today that the construction of new homes and apartments fell 10.6 percent in October to a seasonally adjusted annual rate of 529,000, revised downwards from 592,000. A Thompson Reuters poll expected 600,000 new units.
Associated Press
Statistics Canada reported today that Retail Sales rose by 0.8 percent in August to $34.5 billion (USD$32.9 billion) due largely to an increase in gasoline prices and new car sales. Without gasoline and car sales included in the total, retail sales would have registered only a 0.4 percent increase.
Yahoo News
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