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May 2011

Prospects Weekly: Food prices in developing countries have increased less than international food prices

Global Macroeconomics Team's picture
Food prices in developing countries have increased less than international food prices, partly reflecting weak pass through and partly the fact that a wider range of food commodities are consumed locally than is traded internationally.  Domestic credit growth remains strong in selected developing economies despite efforts by central banks to contain credit growth and inflation by tightening monetary policy.

A New Multipolar World Economy

Jamus Lim's picture

The global economy is currently is the throes of a great transformation in economic structure, power, and influence. The economies that have been commonly called "emerging markets" appear to have finally "emerged," and are coming into their own in terms of their contributions to global economic and financial activity, the international corporate landscape, and even the shape of the international financial system (which are discussed in turn below).

Global Commodity Watch - May 2011

John Baffes's picture

Non-energy commodity prices rose 2.0 percent in April due to supply concerns and depreciation of the dollar—down 1.6 percent against a broad group of currencies. However prices for many commodities fell in early May on concerns about slowing demand and a sharp gain in the value of the dollar, Silver, cotton, and sugar (and crude oil) fell most.

 

Prospects Weekly: U.S. GDP surprised to the downside in Q1-2011

Global Macroeconomics Team's picture

Temporary factors, including adverse weather and a fall in defense spending weighed on U.S. growth in the first quarter of 2011, but GDP is expected to bounce back, as some of these factors abate. Meanwhile monetary tightening is picking up in developing countries as the risk of second round inflationary pressure rears its head while signs of overheating are emerging in several developing economies.

World Bank publishes latest commodity prices: May 2011

John Baffes's picture

Commodity prices (measured in U.S. dollars) mostly higher in April 2011.  Energy prices jumped by 6.5%.  Non-energy prices increased by 2.0%; food prices edged up by 0.9%; beverages fell by 1.8%; raw materials prices rose by 4.1%; metals and minerals increased by 2.2%. The US dollar depreciated 3.1% against the euro and 1.7% against a broad index of currencies. 

Prospects Weekly: Credit default swap rates surge in Greece, and capacity utilization narrows in EAP and LAC

Global Macroeconomics Team's picture
Credit default swap rates and sovereign bond yields surged in Greece, Ireland and Portugal amid heightened speculation of a restructuring of Greek debt. In the event of a restructuring, other euro-area countries could be affected due to heightened market uncertainty and the vulnerability of banks to debt write-downs. Industrial capacity utilization has reached trend rates in developing Asia and Latin America contributing to higher inflation.