Inflation in the UK Hits Highest Level in 10 Months, Surpassing Expectations

Inflation in the UK rose higher than expected at the start of this year,
reaching its highest level in ten months, driven by rising food costs, airfare prices,
and the imposition of VAT on private school fees.

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United Kingdom
China
Australia

United Kingdom

According to data released by the Office for National Statistics on Wednesday,
consumer prices rose by 3% in January, exceeding expectations of 2.8%, after recording 2.5% in December.
Core inflation, which excludes energy and food prices, rose to 3.7% over the 12 months ending in January,
compared to 3.2% in the previous month, marking its highest level since April 2024.
In the services sector, a key indicator monitored by the Bank of England to measure price pressures,
the inflation rate rose to 5% in January, up from 4.4% in December.
Inflation had fallen to its lowest level in more than three years at 1.7% in September but rebounded due to rising fuel costs and the accelerated pace of service charges compared to goods prices.

China

Housing Prices in China Continue to Decline Amid Real Estate Crisis and Weak Demand
New home prices in China fell year-on-year in January, while remaining stable for the second consecutive month on a monthly basis,
reflecting continued weak demand amid the ongoing real estate sector crisis.
According to data from the National Bureau of Statistics released on Wednesday,
new home prices declined by 5% year-on-year, after a 5.3% drop in December, as reported by Reuters.
Meanwhile, the Chinese statistics office revealed that the total area of unsold new homes reached 390.88 million square meters in 2024,
up 16.2% compared to the previous year, reflecting a slowdown in property clearance rates.
Additionally, housing starts, measured by total floor area, dropped by 23% year-on-year in 2024,
indicating declining confidence among property developers and ongoing pressure on the Chinese real estate market.

Australia

Wage Growth Slows in Australia in Q4 2024
Data from the Australian Bureau of Statistics, released early on Wednesday,
showed a slowdown in the Wage Price Index growth in Australia during the fourth quarter of 2024,
recording a quarterly increase of 0.7%, below market expectations of 0.8%.
This slowdown followed a 0.9% growth in the third quarter, which was later revised to 0.8%.
On an annual basis, wage growth slowed to 3.2% in the fourth quarter, compared to 3.6% in the third quarter,
aligning with market expectations and indicating easing wage inflation pressures in the Australian economy.

Inflation in the UK Hits Highest Level in 10 Months, Surpassing Expectations

Inflation in the UK Hits Highest Level in 10 Months

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