Decline in retail sales in March German as Inflation is accelerated

April 29, 2011, 3: 17 pm EDT by Christian Vits

(Updates with comment from Economist in the fourth paragraph).

April 29 (Bloomberg) - German retail sales fell for a second month in March as the accelerated inflation, eroding household purchasing power.Sales, adjusted for inflation and seasonal movements, a decrease of 2.1% in February, when they went down by 0.4%, the Federal Office of statistics in Wiesbaden said today. Economists expected a 0.2 percent gain, according to the median of estimates 18 during a Bloomberg News survey. Since a year earlier, sales decreased by 3.5 per cent.German inflation accelerated to 2.6% in April, the fastest pace in 2 1/2 years, driven by soaring oil prices. At the same time, unemployment dropped to a minimum of 19 years as businesses stepped up production to meet export orders. The Government expects greater Europe's economy to expand 2.6% this year after a record growth of 3.6% in 2010. "."A negative reading in March is not unusual if Easter falls in April," said Ulrike Rondorf, an economist at Commerzbank AG in Frankfurt. "In the first quarter, retail sales still exceed the fourth quarter of 0.2% average."Evolution of the consumer price is casting "slight shadow" on an otherwise "positive" economic perspective, the Ministry of the economy said on the orders of German plant for April 19 and industrial production rose more than economists predicted in February. "Negative impact" private consumption will recover sharply this year and also grow in 2012, said Andreas Scheuerle, Economist for Dekabank in Frankfurt. "" " However, while the labour market has a positive impact on the expenses of the private sector, we also have a negative impact of the wave of inflation. "Consumer confidence will decline for a second month of may as grapple households with higher food and prices of energy, market based in Nuremberg firm GfK AG said this week. Business confidence fell for a second month in April after oil prices rose to the highest in over two years. "Inflation is certainly the major risk for the consumption of the Germany individuals. "in particular, consumers are sensitive to rising prices at the pump," said Mario Gruppe, Economist at the NordLB in Hannover Germany. "However, a negative reading is not the end of the world that we will see a robust economic recovery despite the threat of inflation risks.".

-With the help of Naomi Kresge in Berlin, Manus recesses in London and Jana Randow in Frankfurt. Editors: Matthew Brockett, Hayden Jones

To contact the reporter on this story: Christian Vits to Frankfurt to cvits@bloomberg.net

To contact the editor responsible for this story: Craig Stirling cstirling1@bloomberg.net

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China Stocks fall as rising oil prices fuel Inflation concern

April 25, 2011 3: 33 pm EDT by Bloomberg News

April 25 (Bloomberg) - fell of stocks of China, driving the benchmark index to the lowest level of the month, as high oil prices boosted inflation concerns will speed up and stimulate policy more tightening measures.

Baoshan Iron & Steel Co. led declines steel makers as oil is passed to the highest in two weeks. Anhui conch Cement Co., manufacturer of cement and Sany industry heavy Co., the largest manufacturer of machines for the manipulation of concrete, remote at least 2.8 percent on concerns of higher fuel prices may slow economic growth. "A gauge of slipped more than two months after property stocks a researcher of the State said that a tax is needed to reverse the imbalances in the distribution of the wealth of China".Inflation is still the major concern and there is no sign that the Government will relax its tightening, said Wu Kan, a Fund Manager at the Dazhong insurance company, who oversees the $ 285 million. "The tightening retains the assessments of stocks."Of Shanghai Composite index, which follows the largest stock market in China, dropped 45.57 points, or about 1.5%, to 2,964.95 in 15 hours, the lowest since March 31. She declined to 1.3% last week, more than three months. CSI 300 index fell by 1.5% to 3,249.57. Global financial markets, including those in Europe and the United States were closed for a holiday on April 22. Hong Kong is now closed.Shanghai's Composite Index climbed 5.6% this year on speculation that the Government to cool inflation without triggering a slowdown in economic growth. The Central Bank raised the ratio of the requirement to reserve 10 times since the beginning of 2010 and four times increased interest rates to cool inflation as consumer prices rose at the fastest pace since 2008 OutlookBaoshan March.Inflation steelthe listed unit of second largest steel producer in China, fell by 2.7% 7.12 Yuan. Hebei iron & Steel Co., the listed unit of the largest producer of steel of the nation, collapsed 7.5 per cent of 4.71 yuan. Anhui conch dropped to 2.8 per cent to 38.88 yuan, trimming its 31 percent gain this year. SANY heavy slid 4.1% to 18.52 yuan.Consumer prices could climb between 5.2% and 5.5% in April, according to China International Capital Corp. Non-food prices can earn between 0.2% and 0.4% from the previous month while food a decline in prices, analysts led by Peng Wensheng wrote in a report dated from yesterday. The year of the Government inflation target is 4 per cent.Future gross earned for a fourth day after that Syrian security detained at least 200 people following the assassination of demonstrators hostile to the Government forces and US Senator John McCain said rebel in Libya need help in the fight against the forces of Muammar al-Gaddafi. Saudi Arabia, the holder of the world largest crude reserves, has no intention to increase production capacity, an oil official said.PricesThe Oil contract for June delivery rose to 78 cents, or 0.7%, $113.07 US per barrel in New York today. Future advanced 84 cents to $112.29 per barrel, April 21, the colony high since April 8. In the last year, prices have increased by 34%. The market was arrested April 22 for a holiday.Shanghai container-truck drivers were reported to have won cuts in port charges after a sometimes violent protest against the rising costs highlighted the risk of inflation that disorders of the most populous nation of the world.The local Government will be reduce or remove certain costs after that drivers stopped work April 20 through withdrawal and the increase in fuel costs, Xinhua News Agency reported, quoting an unidentified spokesman. The ports of the city are operating normally, said the report.A gauge of property of the Composite of Shanghai index stocks slid 2.2 per cent, the most since February 22. Poly Real Estate Group Co., second developer of China by the market value has dropped from 2 percent to QL yuan. Gemdale Corp. has lost 0.3 for % to 6.62 yuan.Nation property TaxThe needs including real estate, capital gains, bequests and donations, Zhang Monan, researcher at the Information Centre of the State to improve its system of Declaration of property and to levy taxes on personal assets,wrote a commentary published in the daily newspaper of today's China. Information Center of the State is a body of research under the National development and Commission.China reform imposes a tax of property in Shanghai, and Chongqing in January to curb rising real estate prices.Henan Shuanghui Investment & Development Co., enumerated more China meat processer, collapsed 7% to 58.52 yuan, the lowest since November 29. The company and its parent refund 112 tonnes of meat products, representing 4% of sales from March 24 to April 20 Shuanghui said in a statement.April 18, confirmed a report from that affiliate China Central television bought pigs fed with prohibited additive which induces the growth of lean meat.Measurement of StaplesA from consumers to producers-consumers added 0.6%, most among the 10 groups in the CSI 300 industry staple. Kweichow Moutai Co., the largest producer of alcoholic beverages baijiu by market value, rose 3.9% to 183.06 yuan. First quarter net income rose 49 percent from the same period a year earlier to 1.88 billion yuan (288.6 million), the company said in a statement over the weekend. Profit beat the average of 1.81 billion yuan of estimates of three analysts compiled by Bloomberg.Wuliangye Yibin Co., second-large manufacturer of China white alcohol by the value of market, acquired by 1.2% to 32.32 yuan. Luzhou Laojiao Co., a producer of spirits in southwestern Sichuan province, added 4.2% to 46.91 yuan.Chinese wage increase will strengthen domestic consumption, travel and hotel stocks attractive investments, according to Hugh Simon, Chief Executive Officer of Hamon investment required efforts of the Government of China to double over the next five years wages will stimulate spendingsays Simon, whom Dreyfus Greater China Fund beat 90 per cent of the rival funds over the past five years, according to data compiled by Bloomberg.Wage of inflation "is not a bad thing when you move your economy far you and export-based economy gives many opportunities for investor" Simon said in an interview with Bloomberg Television today. The Fund Manager based in Hong Kong said it "also seeks to" airlines and information technology service companies.

-Zhang Shidong. Publisher: Allen Wan

To communicate with the staff of Bloomberg News for this story: Zhang Shidong in Shanghai at the szhang5@bloomberg.net

To contact the editor responsible for this story: Darren Boey to the dboey@bloomberg.net

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Waves of money at his highest level inflation hedge, use of the industry

April 25, 2011, 2: 56 pm EDT by Glenys Sim and Kyoungwha Kim

April 25 (Bloomberg) - Silver rallied to a record level investors seeking to protect their wealth against the acceleration of inflation and a weakening of the dollar with holdings in a metal benefiting also from economic growth. Spot Gold has also reached a record.

Delivery immediate silver soared up to 5.4% to $49.79 per ounce, beating the previous peak, which, according to research, GFMS Ltd. was of $49.45 in 1980. The metal was $49.0788 to 2 h 40, at Singapore, for a ninth day and together win longest run since a gain of 11 days in March 2008.Precious metals are magnet to the investor concern that Central Bank programs to boost economic growth with extremely low interest rates and increase of the offer of money will boost inflation and hurt currencies including the dollar. Silver is the best performer last year on the Standard & Poor GSCI Index of raw 24, before cotton, coffee and sugar. "The increase has been dramatically fast, Peter Hickson, an analyst at UBS AG in Hong Kong, said before the prize money record of today has been reached. The metal for immediate delivery takes end of March to $37.665. "The momentum of the request is clearly with it."Cash has more than doubled last year, exceeding the gains gold and copper, on speculation that the currency will be degraded and inflation if will accelerate after that Governments spend $ 2 trillion to stimulate their economies from the worst recession since the second world war.The dollar has fallen close to a minimum of 16 months against the euro on speculation that the Federal Reserve will continue to borrow fresh near zero while officials of the European Central Bank of the signal further rate increases. Fed Chairman s., Ben Bernanke held a press conference after the Declaration of the Federal open market Committee on 27 April, after a two-day meeting in Washington. "Market where he likes '"Silver long term really will end up in a blood bath, but in the short-term the market loves,"Dominic Schnider, Director of research at UBS AG wealth management, said in an interview with Bloomberg Television today. What is called the relative strength of the commodity index, which can point to a decline when it is over 70, was at 90.711 today, according to data from Bloomberg.Demande of money investment climbed 40 percent to a record high in 2010 and the use of manufacturing jumped to a maximum of 10 yearsGFMS said in an April report published by the Silver Institute based in Washington. Assets held in products exchanged-traded pink to a record 15,509.54 tonnes on 12 April, data compiled by Bloomberg shows four providers.Silver July-delivery on the Comex in New York jumped as much as 8.2% to $49.845 per ounce today, before the Exchange at $48.925. The record price is $ 50,35 ounces, also set in January 1980, according to the Exchange. Gold for immediate delivery climbed up to 0.7% at $1,517.98 per ounce. "Investment Haven'"Silver definitely benefits from the application of overflow of gold as an investment haven,"said Li Ning, analyst of the future International of China (Shanghai) Co. An ounce of gold bought as few as 30.5121 ounces of silver today, the lowest level since September 1980.Silver is the precious metal that is used in industry and found in products of solar panels for plasma displays and chemical catalysts. In India, future of money also reached a record 73,600 ($1,655) rupees per kilogram on the Multi Commodity Exchange of India Ltd. today. "It is mainly driven by speculative buying, with investors considering the record for some time now," Yang Shandan, a trader at Cinda Futures Co., said of Zhejiang in China. " "We could do a bit of profit-taking now that we pushed passed the top".Consumer prices are accelerating China in India as oil climbed to a two-and-half year high after that violence in the Middle East and Africa threatened to disrupt supplies. China consumer prices, the fastest in the world major economic growth, could reach between 5.2% and 5.5% in April, according to a report on April 24 from wave of China International Capital Corp.After silver in 1980, Nelson and William Hunt of Dallas have been recognized guilty in 1988 of conspiracy for trying to manipulate prices and has been ordered to pay $ 130 million.Among other precious metals, platinum acquired for a fourth day, the increase of 0.8% to $1,836.75 an ounce, the highest price since March 7, and palladium has increased as much as from 1% to $775 an ounce.

-With the help of Madelene Pearson in Mumbai. Editors: Jake Lloyd-Smith, Jarrett banks

To contact the reporters on this story: Glenys Sim to Singapore to gsim4@bloomberg.net; Kyoungwha Kim at Singapore to the kkim19@bloomberg.net

To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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The Viet Nam Inflation is accelerating at a faster pace in 28 months

April 23, 2011, 11: 31 am EDT by Bloomberg News

April 24 (Bloomberg) — the inflation of the accelerated Viet Nam the fastest rate since 2008, putting pressure on the Government to tighten policy more after nearly doubling interest key within six months.

Consumer prices climbed 17,51% in April from the previous year, according to figures published today by the General statistical office in Hanoi. The rate is the highest since December 2008 and compares with pace 13.89 percent last month. Prices rose 3.32% in April by the March.Policy officials increased the redemption rate to 13 percent from 7 percent in November and cut the target for the growth of the 2011 credit to tame inflation and regain investors confidence in the ability of the Government to prevent the economy from overheating. Yet, food and products constitute an important part of the household expenditure and an increase in gasoline and costs of power will be stoking inflation, Standard & Poor said this month.Inflation shows few signs of responding to fiscal and monetary austerity immediately, "said Bill Stoops, investment officer head manager of funds based in Ho Chi Minh-City, capital of the Dragon. "Public policies aimed at slowing inflation works with a lag effect."The inflation rate may peak at nearly 20 per cent before relaxing to approximately 13% at year end, according to U.K. list of Viet Nam property Fund Ltd., which is managed by the cost of borrowing Central Bank raised the Capital.Vietnam Dragon for the second time within a month on 1 AprilWhen the refinancing rate has increased by 13% to 12%. The repurchase rate has been raised at the same level.Redemption rate of political RateThe in which the Central Bank conducts open market operations is rate of key policies of the Viet Nam, according to Santitarn Sathirathai, an economist based in Singapore to the Credit Switzerland Group AG, which expects an increase of 14% at the end of the year.In addition to Sathirathai rate increases may stimulate the burden of debt, said in a research note. Market loan rates are as high as 21 per cent, according to the Viet Nam Property Fund. "This concern will put a cap on how the State of the Viet Nam Bank is willing to increase interest rates, forcing them to use other tools to tighten monetary policy,"he says, citing quantitative controls on the growth of credit and money.Vietnamese inflation is not only the result of global influences with a strong domestic demand, expanded money supply and a weaker dong all contributors, said Sathirathai.Une Government's decision to allow prices to be adjusted as often as all three months according to market conditions can report a new increase in the price of electricity from more than 40 percent in June, according to Viet Capital Securities. Electricity prices have increased by about 15 percent in March. "According to the Ministry of finance, the most recent adjustment was insufficient to adapt perfectly to the market rates,"Marc Djandji, head of research for capital Viet, said in a note on 18 April.

-Folkmanis Jason Ho Chi Minh City. Editors: Stephanie Phang, k. Oanh Ha

To contact the reporter on this story: Jason Folkmanis to Ho Chi Minh City to the folkmanis@bloomberg.net

To contact the editor responsible for this story: Stephanie Phang to the sphang@bloomberg.net

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The Korea of the South Central Bank increased its Inflation forecasts

April 12, 2011, 9: 25 am EDT by Seonjin Cha and Eunkyung Seo

(Updates with comment from the the Economist fourth paragraph).

April 13 (Bloomberg) - inflation in the South Korea is probably accelerate forecasts more previously while economic growth remains consistent with expectations, the Bank of Korea said.Consumer prices may rise 3.9% in 2011, faster than the previous estimate of 3.5%, the Central Bank of the forecast in a statement in Seoul today. Gross domestic product expected to expand by 4.5 per cent this year and 4.8 per cent in 2012, after only a 6.2% gain in 2010, he said. The Bank predicted growth of 4.7% for next year December.Acceleration of inflation driven by economic growth and rising oil and food prices may prompt the Central Bank might increase interest rates three times this year, according to Barclays Plc Bank of Korea Governor Kim Choong Soo said yesterday take monetary policy action "neither too slow nor too fast" after that maintain the unchanged reference rate.Increased inflation forecasts "is a warmongering signal that strengthens our call for the rate increases, more this year," said Dariusz Kowalczyk, an economist based in Hong Kong to Credit Agricole CIB. He said that he predicted at least two increases of interest rates over this year and a strengthening in the WINS at 1,050 to the dollar at the end of the year.Won reached 0.1% to 1,092.85 per dollar as of 9: 18 pm in Seoul, according to data compiled by Bloomberg, while the stock index ABN won 0.1%.Central Bank of oil pricesThe also found the economy increased by 1.5% in the first quarter and expanded by 4.1% a year earlier. Economic growth was boosted by exports. Shipments overseas jumped 30.3% at record rate 48.6 billion in March, according to a report by the Government on April 1. consumer inflation in the fourth largest economy in Asia will accelerate 4.5 percent this year, the Monetary Fund International scheduled this week. It provides that economic growth should slow to 4.2% year next 4.5 percent this year.The threat of further increases in oil prices has become a "key downside risk" for global growth, according to the IMF. Oil will increase by 36% in 2011 to $107.16 per barrel, based on the average prices of Brent r. UK, Dubai and West Texas Intermediate crude, the IMF said. January forecast was for oil at US $89.50 per barrel this year.Inflation CeilingThe Bank Korea itself the projects of the price of oil to be $ 105 per barrel this year, from its previous estimate of $87. For may delivery fell $3.67 to $106.25 a barrel on the New York Mercantile Exchange yesterday, the lowest settlement since 30 March higher oil and food prices pushed consumption above 4 per cent increase the Central Bank ceiling each month since the beginning of the year crude oil, which prompted the Bank to increase rates by a quarter of a percentage point each in January and March. Consumer prices rose by 4.7% from a year earlier in March, the largest increase since October 2008.Governor Kim said high inflation will likely persist in the coming months and that basic excluding oil prices and food can acquire more rapidly than the consumer price at the end of this year. "We are determined to normalize interest rates," Kim said yesterday after maintaining the rate of the target to 3%. " "We will be move forward nor too slowly, or too fast and in a way forward - looking as we are overcoming a crisis.". The Central Bank began to increase the redemption rate of seven days in reference to a record minimum 2% the last July.Jobless RateThe Korean Central Bank to raise its rate target by 25 basis points in mayJuly and September, Wai Ho Leong, a regional economist based in Singapore in Barclays Plc, said yesterday in a report.The Bank has now also provides that the unemployment rate will decrease to 3.4% the year next 3.6% this year. Excess of accounts of the nation should be reduced to 11 billion in 2011 from $ 28.2 billion year last due to the high prices of oil.Unemployment rate of the Korea in the South remained at a maximum of one year in March as an economic recovery encouraged people to find work.The unemployment rate was at 4 percent, unchanged since February, statistics Korea in Gwacheon said today, citing seasonally adjusted figures.

-Editors: Ken McCallum, Brendan Murray

To contact the reporter on this story: Eunkyung Seo in Seoul to eseo3@bloomberg.net Seonjin Cha in Seoul at the scha2@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst in ppanckhurst@bloomberg.net Chitra Somayaji in the csomayaji@bloomberg.net

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Inflation Via the Infrastructure Stocks coverage.

By David Bogoslaw

As rising inflation expectations, many investors are looking to support the asset portfolios which can guard against this risk. Listed companies infrastructure can be as effective a bulwark against inflation as raw and real estate, say the increasing number of fund managers who specialize in these companies. There is a single capture: the chosen companies must have and to operate toll roads, bridges or power plants regulated under concessions in the long term, rather than simply their construction or provide materials for them.

While the fate of companies providing materials such as cement and builders is linked to the ups and downs of economic cycles, owners and operators of essential goods like toll roads have high barriers to entrythe cash flows stable climates all économiqueset the ability to increase prices, a measure of inflation and economic growth. Many companies also offer dividends above average - the average is about 3.5% for companies in the S & P Global Infrastructure of iShares (IGF) index. It is almost double the performance of dividend for the average company in the Standard & Poor of 500-stock index. Long an option investing to institutional investors through private equity agreements, global infrastructure funds went to market mass in recent years. More than half global investment mutual funds 13 infrastructure that identifies Morningstar (MORN) have existed for less than three years. Four launched last year.

Infrastructure as a class of assets less other hedges of inflation in the course of the last year, an opportunity, said Aaron Visse, co-manager of the Forward Global Infrastructure Fund (KGIAX). The Standard & Poor Global Infrastructure index was 6.9% for the year ended March 31, compared with a gain of 34.9% nfor index S & P GSCI products Spot and 18.2% increase in the S & P Global REIT Index. Visse, weight of 41 per cent of the index of the infrastructure in European companies was in large part responsible for its underperformance, given concerns over the ability of the Governments "finance infrastructure in the era of austerity." Visse said investors forget that many assets already belong in the public markets and not depend on government spending. If budget constraints hamper projects sponsored by the Government, it means less competition for existing assets, in the foreseeable future he added.

Retail investors seem to come on point of view of screws. After exits net cumulative of all the funds related to infrastructure, excluding funds from the utility, from March to September 2010, the funds have begun to see entries net last October. Inflow was up to 563 million dollars in February 2011, according to data from EPFR Global, a Cambridge (Mass).-data provider database. Flows of money in infrastructure funds negotiated show similar developments in the mood of investors. Entries net average of 20.5 million from January 2010 to August 2010, jumped to 117.3 million in September and peaked at focused million in December, according to TrimTabs Investment Research of Sausalito, Calif.. NET entries slowed just under 120 million in January and bounces to 172.6 million in March.

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