A recent report published by the Organization for Economic Cooperation and Development (OECD) shows that average annual inflation in OECD countries amounted to 4.2% in July. This price increase is mainly driven by increases in energy prices. Core inflation, i.e. excluding volatile energy prices, was 3.1% in July. Among OECD countries, Turkey had by far the highest inflation rate, at 19.0%. Switzerland had the lowest inflation rate at 0.7% and Japan was the only country to experience deflation, at -0.3%.
Producer prices in the Eurozone increased by 2.3% in July 2021 compared to June. On an annual basis, producer prices even increased by 12.1%, exceeding economists’ expectations of 11.0%. Like the inflation in the OECD countries, this price increase is also driven by rising energy prices. On an annual basis, energy prices in the Eurozone rose by 28.9%. Core producer price inflation came in at 6.7% year-on-year in July.
The number of initial jobless claims in the United States fell by 14,000 last week to 340,000. This is the lowest number of applications since the outbreak of the corona crisis. The four-week moving average fell to 355,000 from 366,500 a week earlier, also reaching its lowest point since March 2020.
The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap is unchanged at -0.02% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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