FTSE: Bearish momentum has accelerated this week and is now at its strongest this year. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Chinese inflation rises to 2.5 per cent Mainly caused by rocketing food prices

Data released this morning showed that consumer price inflation rose 0.1 per cent in the month of April, taking the annualised reading to 2.5 per cent from 2.3 per cent in March, and almost the highest reading of the last two years or so. The sort of reading many a central banker, whose inflation targeting mandates 2 per cent over the medium term, would dream of and which would be ‘a good thing’. The sad reality, in China the increase was fuelled by food prices which rose at 6.1 per cent annualised, from 4.1 per cent in the year to March, pork prices up 1.6 per cent in April and 14.4 per cent over the year because of African swine fever. This hits the poorest hardest.

This morning a listener to an Australian radio station faxed an enlarged photo and phoned in to point out a spelling mistake on the A$50 note, the most widely used in the country. Issued by the Reserve Bank of Australia in October with new safety features, not once but three times is the word ‘responsibility’ spelled ‘responsibilty’. As I say, you cannot get the staff; they have admitted responsibility.

Financial Markets and Political Commentary
 

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