Oil prices fall amid rising gas prices in Europe: energy market closes

The UK recorded the highest annual inflation rate since December 2011, at 4.2% in October, an increase of 1.1 percentage points from the previous month, according to official data. The rise came from rising house prices, while utilities also rose 6.8%.

Monthly inflation rose 1.10% in October from 0.3% last month, the highest monthly record since 1993.

Eurozone inflation

Eurozone annual inflation reached 4.1% in October, an increase of 0.7 percentage point from last month, according to Eurostat data.

The cost of energy guided inflation by 23.7%, while Malta experienced its lowest inflation, at 1.4%.

Inflation rate in Canada

Canada’s inflation rate reached 4.7 percent in October from 4.4 percent the month before, marking the highest inflation rate since February 2003, according to official data from the country.

The inflation rate rose 0.7% on a monthly basis, accelerating 0.5 percentage points from September.

Inflation in South Africa

South Africa’s annual inflation was unchanged in October at 5%, according to its official data. driven by transport prices up 10.9%, against 10.1% in September.

Japan’s trade balance

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 increased 9.4% year-on-year to 7.184 billion yen. Imports jumped 26.7% to 7.251 billion yen.

The trade gap was 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’s trade balance

Italy’s trade surplus narrowed to 2.454 billion euros in September from 5.847 billion euros a year earlier.

Imports increased 22.5% from the previous year to 42.347 billion euros, and exports also increased by 10.3% to 44.8 billion euros.


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Felix J. Dixon