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Global PMI data show prices rising at slowest rate since December 2020
Global inflationary pressures moderated in October to their lowest since late-2020, according to PMI® data compiled by S&P Global across over 40 economies and sponsored by JPMorgan. Although the overall rate of inflation of selling prices for goods and services remains above its pre-pandemic average, amid some stickiness of services inflation and a modest upturn in goods prices, there is encouraging news on underlying - or core - price pressures cooling further in the coming months. In particular, wage pressures have moderated markedly in recent months and companies' pricing power has been hit by reduced demand. ... (full story)