British Shoe And Clothing Products Prices Rise, Inflation Exceeds Expectations

according to Foreign media News shows that inflation in Britain rose more than expected in June, reaching 1.9%, the second inflation rate since 2013 (2013 franchised stores) in June, mainly due to the rise in clothing and footwear prices.

Inflation, employment growth and other economic growth signals are likely to cause the Bank of England to raise interest rates during the year. Investors' anticipation of rate hikes led to a 0.4% rise in the pound against the dollar, to 1 US $1.714. The growth rate of British residents' income has declined, and the average income growth rate in the first quarter is only 0.7%. Samuel Tombs, a British economist, said inflation is expected to decrease in the second half of the year because of the appreciation of the pound, lower import costs and fierce competition in the supermarket. It is estimated that the central bank will only raise interest rates gradually next year.

　　 Relevant Link: Egypt's leather exports increased by 23% in the first half of the year.

On July 10th, according to the monthly statistics of the Ministry of industry and trade, Egypt exported a total of US $11 billion 840 million in 1-6, an increase of 1.26% over the same period last year of 11 billion 690 million US dollars. The Ministry of industry and Commerce has completed 47.36% of the export plan of this year for us $25 billion.

Arabia countries are still Egypt's largest export destination, exporting 5 billion US dollars, followed by the EU $3 billion 500 million, the US $60 million 500 thousand, and Africa (excluding Arabia countries) 57 million 600 thousand dollars. Saudi Arabia is Egypt's largest importer, followed by Italy, Turkey and the United States. In the first half of the year, the most exported products were plastic products, 5 billion 590 million pounds, followed by 2 billion 900 million pounds of fertilizer products, and iron and steel, electric wires, automobile accessories and cosmetics were the main export products.

　　 Exit The fast growing products are leather, an increase of 23% over last year, up to US $117 million, and the export of textiles, medicine and food has also increased. Exports of building materials fell by 30%, from $2 billion 790 million last year to $1 billion 950 million. Exports of books declined by 24%, and exports of clothing and machinery products also declined.