Inflation came in at 2.5% in July, which was up from June’s 2.4% and was driven by a faster rise in food prices. July’s reading was the highest inflation rate since February. The trend was unchanged, with annual average inflation coming in at June’s 2.5% in July. Finally, consumer prices rose 0.19% from the previous
Industrial output expanded 13.2% in year-on-year terms in June, which was a deterioration from May’s 15.7% increase but still a strong reading by historical standards. Looking at the details of the release, manufacturing output grew at a softer—albeit still robust—rate in June, while electricity and gas supply output accelerated. Rising demand for AI and cloud
Merchandise exports jumped 23.5% on an annual basis in June (May: +3.5% year-on-year), beating market expectations. The result marked the most robust growth since February 2022, and was largely due to a more-than-doubling of IT exports thanks to booming global demand for AI products. Meanwhile, merchandise imports climbed 33.9% in annual terms in June (May:
Inflation rose to 2.4% in June, above May’s 2.2%. The pick-up was largely due to rising price pressures for food. The trend pointed up mildly, with annual average inflation coming in at 2.5% in June (May: 2.4%). Finally, consumer prices increased 0.31% over the previous month in June, picking up from the 0.21% increase logged
Industrial output increased 16.1% in year-on-year terms in May, which was above April’s 14.5% increase. May’s result marked the best reading since July 2021. May’s pickup was largely due to faster growth in manufacturing output, likely as burgeoning global demand for AI applications boosted the country’s electronics sector. On a monthly basis, industrial production increased
Merchandise exports increased 3.5% annually in May (April: +4.3% year-on-year). This was driven by over-60% growth in IT exports, likely linked to the surge in global demand for AI applications. Looking at destinations, exports to the U.S. were the key driver, more than offsetting lower sales to China, Japan and Europe. Meanwhile, merchandise imports climbed
Inflation ticked up to 2.2% in May, following April’s 1.9%. Looking at the details of the release, prices for food, transport and housing increased at faster rates in May. Annual average inflation remained at April’s 2.4% in May. Finally, consumer prices increased 0.22% in May over the previous month, moderating from the 0.55% increase recorded
Inflation ticked up to 2.2% in May, following April’s 1.9%. Looking at the details of the release, prices for food, transport and housing increased at faster rates in May. Annual average inflation remained at April’s 2.4% in May. Finally, consumer prices increased 0.22% in May over the previous month, moderating from the 0.55% increase recorded
Industrial output increased 14.6% year on year in April (March: +4.2% yoy). April’s upturn was largely driven by upturns in manufacturing and electricity and gas supply production; the former was likely underpinned by rising global demand for AI and cloud applications spurring the country’s electronics industry. On a seasonally adjusted monthly basis, industrial production rose