Japan to face unprecedented food price hikes in October 2024 amid economic challenges
The latest report by Teikoku Databank reveals that 2,911 food items from 195 manufacturers will experience price hikes in October.
Inflation
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Singapore’s growth target: SM Lee projects 2% to 3% annual growth
During a recent address, SM Lee emphasized the importance of maintaining stable growth as Singapore navigates post-pandemic recovery and geopolitical tensions. While the country has demonstrated resilience, the potential for economic headwinds requires a strategic approach to ensure continued progress.
Strengthening ringgit fuels currency diversification in Malaysia
Several factors contribute to the ringgit's robust performance. A significant interest rate cut by the US Federal Reserve, combined with an influx of foreign investments and overall confidence in Malaysia's economic and political stability, has bolstered the currency. Year-to-date, the ringgit has appreciated over 11% against the US dollar, positioning it as Asia's top-performing currency.
Malaysia’s inflation eases slightly in August
MIDF Research has maintained its 2024 headline CPI growth projection at 2.3%, supported by the moderate inflation rate of 1.8% recorded for the first eight months of the year. In comparison, last year's CPI increase was recorded at 2.5%.
Singapore’s inflation holds steady in august, easing seen on the horizon
According to the report, core inflation, which excludes the costs of accommodation and private transport, remained steady at 3.2% year-on-year in August, unchanged from July.
Ringgit gains against US Dollar amid lower inflation
As of the latest trading session, the ringgit was seen strengthening, with analysts attributing the gains to improved economic indicators. Lower inflation rates are typically viewed as favorable, as they suggest stability in the economy and can lead to increased consumer spending. This shift has provided a more favorable environment for the currency, enhancing its appeal to investors.
Indonesia’s central bank surprises markets with rate cut ahead of Fed
With the Fed expected to consider its own rate adjustments, BI’s proactive approach could be interpreted as an effort to differentiate Indonesia's monetary policy and mitigate capital outflows that often accompany tightening in the U.S.
Tokyo market slips amid U.S. rate cut speculation and Yen surge
The Nikkei 225 fell by 1.2%, closing at 32,500, while the broader Topix index dropped 0.9%, following similar trends in international markets
Domestic demand lags as South Korea’s economy struggles to rebound: KDI
However, weak consumer spending and subdued private-sector investment are weighing heavily on the recovery, leaving the economy in a precarious state.
Singapore’s factory output expands as electronics sector hits six-year high
The electronics sector was the highlight, registering a 14.5% jump in output—the highest since 2018.
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