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Tag: inflation

  • Inflation erodes Vietnam retail sales rise

    Inflation erodes Vietnam retail sales rise

    Purchasing power is declining despite Vietnam retail sales and services revenue rising 9.1 per cent to VND1430 trillion (US$63.4 billion) in the first five months of this year.

    If inflation is excluded, the amount marks an increase of 7.8 per cent, according to the General Statistics Office (GSO). However, GSO expert Vu Manh Ha says the growth, with inflation excluded, was lower than the 8.2 per cent growth in the same period last year, showing weaker purchasing power.

    Growth was impacted by incidents affecting accommodation, catering and tourism services, as well as the mass fish deaths along Vietnam’s central coast. With the cancellation of beach tours, the spending power of tourism companies in the coastal provinces fell strongly.

    Meanwhile, there was a strong 9.5 per cent growth in the purchasing power of goods retailers in the first five months, amounting to VND1920 trillion and accounting for two-thirds of total retail sales and services revenue.

    Retailers of rice and foodstuffs saw growth of 13.6 per cent; garment retailers, 10.9 per cent; and home appliance retailers, 9.6 per cent.

    Ha says the total retail sales and services revenue next month will increase further because of a high demand for house construction and repairs, and recovering demand for beach tours.

    GSO director Nguyen Bich Lam says purchasing power this year is expected to have a lower growth rate than last year because of stability in prices, high supply and stable demand for most essential goods.

    Because of consumer fears about environmental pollution and food safety, spending is expected to erode for such services as accommodation, catering, tourism and entertainment, says Lam.

  • Inflation May Accelerate to 4.38% in January

    Inflation May Accelerate to 4.38% in January

    Supplies of shallots and chili, staple ingredients in Indonesian meals, are often low during the rainy season, propping up the prices index, said Sasmito Hadi Wibowo, the deputy of goods and services distribution at the Central Statistics Agency (BPS).

    Beef prices are also on the rise, increasing by 1 percent alone this month after the government slapped a 10 percent value added tax on beef trade and import in the beginning of this year. Officials reversed the policy on Friday.

    Bank Indonesia has targeted an inflation rate of between 3 percent and 5 percent this year.

    The central bank just cut its benchmark interest rate to 7.25 percent last week as it seeks to stimulate bank lending and boost growth, but an accelerating inflation would undermine its ability to trim the interest rate further.

    The government aims to expand Southeast Asia’s largest economy by 5.3 percent this year, rebounding from an estimated 4.7 percent last year, its slowest pace since 2009.

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  • Indonesian retailers prepare for inflation shock

    Indonesian retailers have warned consumers of prices rises ranging from five to 12 per cent.

    Roy N. Mandey, chairman of the Indonesia Retailers Association (Aprindo), says the nation’s retailers plan to increase prices to consumers by an average of six to seven per cent as they battle with the weakening value of the rupiah.

    “Price increases for food and beverage products would be around five per cent, while electronics would see a hike of between 10 and 12 percent,” Mandey said in an interview with the Jakarta Globe.

    The Indonesian currency has lost 15 per cent of its value this calendar year, and the government has disrupted the economy further by introducing new import tariffs on many consumer goods and restricting alcohol sales in convenience stores.

    Mandey said in an interview he expected retailers to increase prices in October, a typically high month for stock replenishment.

    Members of Aprindo, which include hypermarket operator Matahari Putra Prima and convenience store network Sumber Alfaria Trijaya, have been struggling to respond to stagnating retail demand as the purchasing power of consumers has slipped.

    In July, Indonesian retail sales growth fell to its lowest level since last December, rising just 4.8 per cent.

    In 2014, Indonesian retail sales topped Rp 168 trillion, but the last estimate for 2015 stood at just 152 trillion. Aprindo is hoping for Rp 175 trillion but says for that level to be reached the government would have to remove some regulatory barriers.

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  • Japan’s households begin opening their wallets

    Japan’s households begin opening their wallets

    Japan’s households opened their wallets a bit wider than anticipated in Might, with family expenditures leaping for the primary time in additional than a yr.

    Family expenditures rose four.eight % on yr in Might, topping a Reuters ballot forecast for three.four % and marking the primary on-year improve because the nation elevated its consumption tax in April of 2014.

    Some took the leap as a transparent constructive.

    “Most individuals have been extraordinarily skeptical on the entire Japanese package deal. 90 % of out of doors observers stated there was no means a rustic in a state of decline for 20 years might flip itself round,” Mark Matthews, head of analysis for Asia at Julius Baer, stated in a telephone interview. “These good numbers present there’s some momentum within the financial system.”

    Japan’s policymakers have struggled to kick begin the financial system after many years of deflation, with the Financial institution of Japan launching an enormous easing program in 2013 as a part of “Abenomics,” Japanese Prime Minister Shinzo Abe’s plan to return the nation to progress.

    However after a consumption tax hike to eight % from 5 % in April of 2014, the financial system acquired clobbered when shoppers stopped spending, forcing the federal government to postpone a second gross sales tax initially due this October.

    Different knowledge launched concurrently the family expenditures have been extra muted. Japan’s core shopper worth index (CPI) rose zero.1 % on-year in Might, only a tad above a Reuters ballot forecast for a flat studying and down from a zero.three % rise in April. The unemployment fee was regular at three.three % in Might, as anticipated.

    A few of Japan’s financial knowledge has supported the restoration expectations, with gross home product (GDP) progress for the primary quarter revised greater to an annualized three.9 %, up from 1.5 % within the October-to-December quarter, amid better-than-expected capital spending.

    To make certain, not everyone seems to be shopping for into the restoration story.

    “The large image stays that there’s nonetheless substantial spare capability within the financial system which is dragging down costs,” Marcel Thieliant, a Japan economist at Capital Economics, stated in a word Friday. “There are scant indicators that the tighter labor market has resulted in stronger worth strain,” he added, noting that the determine was barely above expectations on account of an increase in risky recent meals costs. He expects costs will fall within the third quarter.

    Thieliant additionally does not see a lot to get enthusiastic about from the family spending knowledge.

    The rise adopted a pointy drop in April, he famous.

    “Even when spending continued to rise by one other 2 % month-on-month in June, personal consumption might subsequently have stagnated final quarter,” he stated.” The upshot is that GDP progress ought to have slowed sharply within the second quarter.”

    The Japanese yen held flat at round 123.59 towards the U.S. greenback after the info.

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  • Might retail inflation at Three-month excessive of 5.01%

    Might retail inflation at Three-month excessive of 5.01%

    Shopper Worth Index-based inflation rose to a three-month excessive of 5.01 per cent in Might, even because the meals phase noticed a decline within the fee of worth rise, official knowledge confirmed on Friday.

    The inflation had stood at four.87 per cent in April 2015 and eight.33 per cent in Might 2014. Whereas it justifies the Reserve Financial institution of India (RBI)’s cautious stance in slicing the coverage fee earlier this week, RBI was extra nervous about meals inflation, which declined.

    Meals inflation was right down to four.80 per cent from 5.11 per cent in April 2015. Within the year-ago interval, it had stood at eight.89 per cent.

    Whereas the meals inflation was greater within the city areas at four.84 per cent towards four.74 per cent within the rural elements, the state of affairs was fairly reverse in case of mixed inflation. General inflation stood at 5.52 per cent in villages and four.41 per cent within the city areas.

    Whilst meals inflation was down, the costs of pulses rose on the elevated fee. Inflation in pulses elevated to 16.62 per cent in Might from 12.52 per cent. This was the one phase amongst meals gadgets that noticed double-digit inflation. Earlier this month, the Cupboard had determined to import pulses to tame costs.

    Sugar costs noticed a decline, although. In April, costs dropped 5.99 per cent, whereas in Might these turned cheaper by 7.Three per cent.

    The sugar sector has been battling a state of affairs of glut. Earlier this week, the Cupboard gave the sector a tender mortgage of Rs 6,000 crore to pay a part of its Rs 21,000-crore dues to farmers.

    Nevertheless, corporations weren’t glad as a result of it didn’t remedy the issue of over-supply and depressed costs.

    Elsewhere, home lease, an city phenomenon, inched down barely from four.65 per cent to four.64 per cent.

    Nevertheless, gasoline and lightweight noticed inflation rise to five.96 per cent

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