(Bloomberg) -- Any acceleration of inflation in the U.S. next year could prove temporary as wage growth stays subdued, the pace of Asia’s economic recovery is seen differing by country and economists are skeptical of the sizable boost Japanese officials anticipate from their latest stimulus.
Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:
U.S.
While Americans are likely to see prices climb across a variety of sectors next year, thanks in part to Covid-19 vaccines that will potentially turbocharge services demand, one critical ingredient will be missing to sustain higher inflation: a tight labor market.
Consumers are feeling more upbeat thanks to promising developments on a coronavirus vaccine. The University of Michigan’s measure of sentiment unexpectedly increased in early December, with a gauge of current conditions hitting the highest level since March.
Europe
Most Europeans want the economic recovery from the pandemic to promote growth that prevents climate change, the European Investment Bank found in a survey.
A one-off 5% tax on wealth in the U.K. could raise more than 260 billion pounds ($348 billion) to help fix the coronavirus-hit public finances, according to a panel of experts.
Asia
Asia’s head start in the economic recovery from Covid-19 is sending a warning to the rest of the world: inequalities exacerbated by the virus are unlikely to be reversed any time soon.
China’s consumer prices fell for the first time in more than a decade in November, dragged down by a slump in pork prices after supplies recovered from last year’s swine disease.
Japan expects its latest stimulus package will boost the economy by 3.6%, but analysts warn that the number should be approached with caution.
Emerging Markets
Brazil’s central bank signaled it may be unable to fulfill its pledge to keep interest rates at a record low for long due to rising inflation expectations.
South Africa’s economy may only get back to pre-Covid 19 levels by 2025 and remains vulnerable to a local resurgence of the pandemic, even after exiting its longest recession in 28 years.
World
Wall Street’s biggest banks are predicting the coronavirus-hit world economy will crawl through the early days of 2021 before bouncing back. Vaccines and more fiscal stimulus will help fuel an expansion after the unanticipated shock of the deepest recession since the Great Depression.
In the slow march toward equality over who wields global economic power, 2020 has seen more progress for women storming bastions of hitherto male-only dominance.
©2020 Bloomberg L.P.
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