The Swiss inflation rate in October dropped to 0.6% for more than three years, lower than expected.
Swiss Federal Statistics Office data shows that Switzerland's October consumer price index (CPI) inflation rate fell to 0.6%, the lowest level since June 2021, below the market's expected 0.8%, compared to 0.8% in September. Housing and energy inflation slowed to 3.5%, while transportation prices fell by 2.7%. Compared to the previous month, CPI slightly decreased by 0.1%, not rising for the fifth consecutive month, reasons include decreases in hotel prices and international tour package prices. Prices of rbob gasoline, diesel, and fruits and vegetables also decreased.
Swiss inflation drops to the lowest level in three years, the central bank is determined to cut interest rates in December.
In October, the inflation rate in swiss franc decreased to the lowest level in more than three years, indicating that the Swiss National Bank will further cut interest rates in both this year and 2025.
Australia's PPI in the third quarter rose by 0.9% quarterly and 3.9% annually in the Economic.
Australia's Bureau of Statistics announced that excluding exports, the Producer Price Index (PPI) for the third quarter of Australia, calculated based on final demand (measuring the change in prices of consumed goods and services without further processing), rose by 0.9% quarterly, down from the previous increase of 1%. On an annual basis, it increased by 3.9%, down from the previous rise of 4.8%. (da/w)~
The manufacturing PMI final value of Australia in October was revised upwards to 47.3, surpassing expectations.
According to Judo Bank/Standard & Poor's Global, after seasonally adjusted, Australia's October Judo Bank manufacturing purchasing managers' index (PMI) final value was revised upwards from the previous value of 46.7 to 47.3, higher than market expectations confirming the initial value fell to 46.6, but still in contraction for nine consecutive months, although the contraction rate has slowed down, overall it is moderate. In October, new orders for commodities in Australia decreased again, continuing the trend of contraction in new orders for nearly two years; at the same time, the decline in export orders is even more significant, mainly affected by reduced demand in major export markets. Due to the inflow of new orders and a decrease in output, procurement activities have also decreased.
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