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The annual inflation rate in Cape Verde eased to 0.4% in July 2026, down from a five-month high of 1.1% in June. Price growth moderated primarily for transportation (2.5% vs 5.4% in June); clothing & footwear (2.9% vs 4.7%) and alcoholic beverages & tobacco (3.6% vs 4.3%). Additionally, prices continued to decrease for housing & utilities (-3.4% vs -3.6%) and communications (-0.3% vs -0.3%). On a monthly basis, the CPI rose by 0.2%, following a 0.5% increase in the prior month.

Cape Verde Inflation Rate Softens in July

Palm oil extended a rally to around 4,965 ringgit per tonne, reaching the highest level since December 2024, boosted by stronger biofuel demand and growing concerns over production. Indonesia started its ambitious B50 biodiesel programme, which is expected to divert more palm oil toward domestic fuel production and reduce export availability. Buyers are moving to secure supplies ahead of the programme’s full implementation in October. At the same time, dry conditions have affected plantations in Indonesia and Malaysia, raising concerns about yields. The developing El Niño weather pattern could further worsen dryness across Southeast Asia, potentially limiting production in the world’s two largest palm oil-producing countries. The USDA expects global palm oil inventories to fall to a nine-year low in the 2026/27 season. Meanwhile, disruptions to sunflower oil exports from Russia and Ukraine are encouraging buyers to turn to alternative vegetable oils, adding further support to palm oil.

Palm Oil Picks Up to 20-Month High

Hourly labor costs in the Euro Area increased by 3% year-on-year in Q2 2026, following a 3.2% rise in the previous period, preliminary estimates showed. This marked the slowest pace of growth since Q4 2021. Wages and salaries rose by 3.0%, down from 3.3% in Q1, while non-wage costs advanced by 3%, up from 2.8%.

Eurozone Labor Costs Growth Weakest Since 2021

AUDUSD increased to 0.71, the highest since June 2026. Over the past 4 weeks, Australian Dollar US Dollar gained 1.85%, and in the last 12 months, it increased 10.95%.

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