(Bloomberg) South Africa’s central bank governor warned that there are still risks to inflation, even as he acknowledged that the rate has come down significantly.Most Read from BloombergPowell Signals Fed Will Raise Rates If Needed, Keep Them HighNYC’s Most Exciting New Fine Dining Restaurant Is in a Subway StationTesla Investors to Get $12,000 Each From Musk’s SEC DealTrump Returns to Musk’s X With Post of Georgia Mug ShotAfter 15 Years, a New Private Jet Is America’s Most Popular“We are fo
Turkey aims to lower soaring inflation permanently after a transitional period where prices remain high, Finance Minister Mehmet Simsek said on Thursday in an interview with the Yeni Safak newspaper. "Our goal is to bring down inflation permanently after a transitional period," Simsek said. The sustained price pressure, driven by a drop in the lira currency and tax hikes, comes as President Tayyip Erdogan's new finance minister Simsek and central bank chief orchestrate a policy U-turn, including interest rate hikes, that are expected to slow domestic demand.
U.S. worker productivity rebounded sharply in the second quarter, helping to curb growth in labor costs and offering another boost to the improving inflation outlook. Nonfarm productivity, which measures hourly output per worker, increased at a 3.7% annualized rate last quarter, the Labor Department said on Thursday. Data for the first quarter was revised higher to show productivity declining at a 1.2% pace instead of the previously reported 2.1% rate.