Latest Economy of Asia Stories

Wholesale prices rose by 0.13 percent in India with inflation pushed by rising food prices, the Press Trust of India said. Prices for milk, wheat and spices rose 1 percent in a weekly survey ending April 25. Rising prices for sugar, vegetables and cereal may provide fodder for opposition politicians in the country's elections, the Press Trust said. In the past 12 months, cereal prices have gone up 11 percent. The prices for pulse "“ a leguminous grain "“ rose 14 percent. Fruit and...

South Korea's trade surplus reached $6 billion in April, attributable to a drop in imports and a favorable exchange rate, a government report said Friday. The Ministry of Knowledge Economy report said the country's exports reached $30.6 billion last month, falling 19.0 percent year-over-year, with imports plummeting 35.6 percent to $24.6 billion, the South Korean news agency Yonhap reported. The monthly surplus topped the $4.3 billion reported in March, and was much higher that the $3.8...

Higher food and shelter costs drove Canadian consumer prices up 1.2 percent in March on an annual basis, Statistics Canada reported from Ottawa Friday. Food prices rose 7.9 percent during the 12-month period on the heels of a 7.4 percent rise in February. It was the largest jump since November 1986, the federal agency said. A 12-month price increase of 54.9 percent for potatoes pushed up vegetable prices, the report said. This occurred largely as a result of poor harvests in Canada that led...

The Consumer Price Index dropped by 0.1 percent in March, the U.S. Department of Labor said Wednesday. The decline, pushed by a 3 percent downturn in energy prices, hints of deflation as prices for goods and services are 0.4 percent below what they were a year ago. Core inflation -- taking out the influences of food and energy costs -- rose 0.2 percent for the third consecutive month. This may mitigate fears that prices are headed lower, a dynamic that stalls the economy as consumer hesitate...

China said its exports slowed in March for the fifth consecutive month, but that a drop of 17.1 percent from 2008 was less than February's 25.7 percent decline. Imports fell more steeply than exports, dropping 25.1 percent in March from a year ago, The New York Times reported Friday. Signs have been emerging that China's stimulus package launched last November is working, China economist Qu Hongbin at HSBC in Hong Kong wrote in a report last week. In addition to the $585 billion spending...

ZURICH, Switzerland, April 6 /PRNewswire/ -- An Urgent Call to Action by "The Humboldt Forum for Food and Agriculture" International Press Conference (incl. telephone conference, audio webcast) 16 April 2009, 3 PM CET Hotel Maritim proArte Friedrichstrasse 151 Berlin, Germany In response to the growing threat of global malnutrition and food insecurity, the recently established Humboldt Forum for Food and Agriculture (HFFA) - a unique group of...

Reports from Japan, China and South Korea point to a steady decline in exports and industrial production, a sign Asia is feeling the recession's impact. In Japan, exports have tumbled and a Bank of Japan index gauging sentiment among large manufacturers fell to a record minus 58 in March, down from a December reading of minus 24, The New York Times reported Wednesday. In China, the purchasing managers index fell in February to 44.8, down from January's 45.1. The index in which numbers below...

Japanese exports plunged in February, falling to 49.4 percent below February 2008, the government said Wednesday. Japan, heavily dependent on exports, saw shipments to the United States fall 58 percent in February. Shipments to Europe plunged 54 percent, CNNMoney.com reported. The drop in exports is expected to contribute to an economic contraction in the world's second largest economy of 5.8 percent in 2009, the report said.

The World Bank downgraded China's economic growth for 2009 to 6.5 percent in a report released Wednesday. The country's export markets have been hit badly, by the economic slowdown, the World Bank said in a statement. As such, the Chinese economy will function below its full potential, causing slower job growth, pulling down prices and redirecting export items to the domestic market, which will, in turn, slow imports, the World Bank said. The China Quarterly Update said the country's banks...

The Consumer Price Index increased 0.3 percent in January after falling for three consecutive months, the U.S. Department of Labor said Friday. The increase came in as economists predicted and will be seen as good news for those who fear falling prices that tend to stall the economy. Core inflation, taking out the influences of food and energy costs, rose 0.2 percent in the month. Energy costs rose 1.7 percent, with gasoline rising 6.0 percent for the month. Food prices also gained slightly,...