New figures published today by the German statistical office, Destatis, show that producer prices rose further in August. Prices rose 45.8% in August compared to a year earlier. The increase in July was still at 37.2% and 32.7% in June.
Bread prices in the European Union rose by almost 20% in August compared to a year earlier, according to the European statistics office Eurostat. In The Netherlands, the increase was still relatively low at 10% but the price in Hungary saw an increase of 66%. The increase is mainly due to the ongoing conflict between Russia and Ukraine who are the largest exporters for the grain and corn they use in Europe.
Inflation in Japan rose further in August to 3.0% year-on-year, new government figures show. This puts inflation above the Bank of Japan’s desired 2% for the fifth month in a row. However, the monetary policy body recently announced that it sees no reason to adjust interest rate policy. Coming Friday, the Bank of Japan will announce the new interest rate decision.
The 6M Euribor increased with 6 basis points to 1.67% compared to previous business day. The 10Y Swap increased with 5 basis points to 2.58% 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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