What does wholesale inflation look like in different parts of the world? Here is a list of major countries and the most recent figures for their producer price index, or PPI:
The Bank of Japan decided to raise its benchmark interest rate by a quarter-point to its highest level in 31 years, and to halt government bond purchase reductions next year. The policy board of BoJ voted 7-1 to raise the interest rate to 1.00 percent from 0.75 percent. The board signaled its commitment to further monetary policy tightening to support its price stability target.
Hong Kong's unemployment rate held steady in the three months ending in May. The seasonally adjusted unemployment rate came in at 3.7 percent in March to May, the same as in the February to April period. Similarly, the underemployment rate stayed unchanged at 1.5 percent. Total employment fell by around 8,700 to 3.639 million.
Consumer price inflation in Italy accelerated further in May to the highest level in more than two-and-a-half years, as estimated initially. Consumer price inflation accelerated to 3.2 percent in May from April's 2.7 percent. The rise in inflation was mainly influenced by the price developments in non-regulated energy products, which grew by 12.5 percent.
Turkey's retail sales growth moderated in April to the lowest level in just over a year. Retail sales rose 11.4 percent yearly in April, much slower than the 21.7 percent surge in March, which was the fastest growth since February 2024. Annual sales growth in non-food products, excluding fuel, slowed to 14.5 percent from 29.5 percent, and growth in food products improved to 7.6 percent.