The US hide market had an optimistic tone on Monday October 14 following reports that showed inflation is cooling in the US and China, which partly contributed to moderate hide buying interest over the weekend.
Released by the US Bureau of Labor Statistics, the September Consumer Price Index (CPI) rose by 0.2% month on month and by 2.4% year on year, compared with a year-on-year increase of 2.5% in August.
The Chinese Central Bank released CPI data for September, and it was down by 0.4% year on year, compared with a year-on-year increase of 0.6% in August.
Fastmarkets’ analysts expect that, with improved consumer affordability, retail shopping may also increase for key leather sectors — such as footwear, automotive and furniture — in the near term.
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