Yearly inflation rate in China marginally declined to 0.7 percent in September, decreasing from 0.8 percent in August, official data showed. This is the lowest annual inflation rate since March of this year.
Unlike elsewhere, food prices fell in the country on an annual basis. Prices of non-food items slightly changed — up 2 percent — compared to 1.9 percent in the previous month.
In addition, monthly consumer prices remained unchanged in September from August.
Meanwhile, annual producer prices reached a record high in September, increasing to 10.7 percent from 9.5 percent the previous month.
Means of production costs surged by 14.2 percent in September, with prices relating to extraction and raw materials soaring by 49.4 percent and 20.4 percent respectively.
The Australian seasonally adjusted unemployment rate reached 4.6 percent in September 2021, barely changing from the indicator’s near-13-year low of 4.5 percent in August, the Australian Bureau of Statistics said. This was also the first increase in the unemployment rate since September 2020.
In addition, the country’s participation rate fell by 0.7 percent to reach 64.5 percent.
According to the National Institute of Statistics, yearly inflation in Spain rose for the third consecutive month to 4 percent in August 2021, the highest level since September 2008.
Inflationary pressures were most visible in the housing and energy markets. Housing prices rose by 14.5 percent while costs of gas and other fuels leaped by a significant 34.3 percent.
On a monthly basis, consumer prices rose to 0.8 percent, jumping from 0.5 percent in the previous month.
On the other hand, annual core inflation rate, which excludes volatile food and energy costs, increased slightly to only 1 percent in September, compared to 0.7 percent in August.
Japan’s industrial production
Japan’s monthly industrial output decreased by 3.6 percent in August, continuing its trend of decline experienced in August when it fell by 1.5 percent. This was partly driven by a rise in Delta variant cases across the country.
Motor production led the decline as its output plummeted by 15.2 percent. Information and communication electronics equipment also plunged by 13.5 percent and electrical machinery production fell by 8.6 percent.
However, on an annual basis, industrial output grew by a noticeable 8.8 percent in August.
Singapore’s yearly economic growth slowed to a still-high 6.5 percent in the third quarter, preliminary official data showed. In the previous quarter, output soared by an annual rate of 15.2 percent, due to last year’s low base effect.