Japan producer price index hits highest level in 5 years
Day in Review
The unemployment rate in South Korea stood around 3.5% for the month of October up one basis point from last month’s figure of 3.4%.
The average unemployment rate for the year stood at around 3.8%. Unemployment rate was the highest amongst the 20-29 years old age group hovering around 7.3%. On the other hand, the group with the lowest unemployment was the group aged 50 and over with an unemployment rate of 2.2%.
Geographically, the region with the lowest unemployment rate was Jeonnam at 1.4% while the region with the highest unemployment rate was Incheon with 3.8%.
The monthly producer price index was up 1.1% for the month of October coming slightly lower than survey expectations of 1.2%. Nevertheless, the figure is the highest for the year and the highest in the last 5 years.
The index’s increase was driven by a pickup in manufacturing prices, up 1.5% the highest increase year to date and in the last 5 years.
Inflation in Germany was up 0.1% for October and 0.9% yearly. Average inflation year to date hovers around 0.2%.
Inflation increase was driven by the increase in prices across 5 sectors: beverages and tobacco up 0.3%, clothing and footwear up 1.2%, housing and utilities up 0.2%, household equipment up 0.3% and healthcare up 0.1%.