Next Week’s News Today: Singapore In Recession?

It is mostly about inflation, or the lack of inflationary pressures, next week.

India will be the first major economy to reveal all about the rate that prices have been rising. In August, the inflation rate fell to a fresh record low of 3.66%. In August consumer prices rose at a rate of just 3.69% – this was already below the central bank’s target rate of 6%.

The UK has inflation numbers to post too. Last month, consumer prices did not rise at all. It seems that falling oil prices dragged down transportation costs, with food and non-alcoholic beverages dropping in price too.

Not to be outdone, China also has inflation numbers to report. Prices in the Middle Kingdom rose at 2% last month. Politically-sensitive food prices rose the fastest – up 3.7%. It appears that the largest culprits were fresh vegetables, meat and poultry.

America is also set to announce inflation numbers. In the US of A, consumer prices rose in August at the same rate it did in July, which was just 0.2%. The main cause of the decline was gasoline prices.

And finally, Singapore should know by the middle of the week whether the country is in recession. In the second quarter of 2015, Singapore’s economy shrank 4% over the previous quarter. Another negative quarter – when the advanced numbers are announced – would put the country into a technical recession.

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