The United Kingdom recorded the highest yearly inflation rate since December 2011 by 4.2 percent in October, an increase by 1.1 percentage points from the prior month, according to official data. The rise came from increasing house prices, while utilities also rose by 6.8 percent.
Monthly inflation rose by 1.10 percent in October from 0.3 percent last month, in the highest monthly record since 1993.
Euro Area Inflation
The Euro area yearly inflation hit 4.1 percent in October, an increase of 0.7 percentage points from last month, according to Eurostat data.
The cost of energy guided inflation up by 23.7 percent, while Malta saw its lowest inflation, at 1.4 percent.
Canada inflation rate
Canada’s inflation rate rose to 4.7 percent in October from 4.4 percent in the previous month, marking the highest inflation rate since February 2003, according to official data there.
The inflation rate grew 0.7 percent on a monthly basis , accelerating by 0.5 of a percentage point from September.
South Africa Inflation
South Africa’s yearly inflation remained unchanged in October at 5 percent, according to its official data. driven by the prices of transport increasing by 10.9 percent, from 10.1 percent in September.
Japan Balance of Trade
Japan posted a surprising trade deficit of 67.37 billion yen ($586.7 million) in October, compared to 840.79 billion yen on an annual basis.
Exports rose 9.4 percent year on year to 7.184 billion yen. Imports jumped 26.7 percent to 7.251 billion yen.
The trade gap was at 219.98 billion yen for the first 10 months of the year, compared to a surplus of 235.13 billion yen in the same period a year earlier.
Italy balance of trade
Italy’s trade surplus narrowed to 2.454 billion euros in September from 5.847 billion euros a year earlier.
Imports rose 22.5 percent from the previous year to 42.347 billion euros, and exports also rose 10.3 percent to 44.8 billion euros.