The annual rate of producer-price inflation in America slowed to 4.4% in February from 4.6% in January. Wholesale prices fell by 0.6% during the month of February, their biggest monthly fall in seven months, after rising by 1.4% in January. Elsewhere in the rich world, wholesale prices have not risen as much over the past year as they have in America. In the euro area, they were 1% lower in January than they were a year earlier, although they rose by 0.7% during the month. In America, the sharp decline in wholesale prices in February was due largely to a 2.9% decline in energy prices. Excluding food and energy costs, wholesale prices in America edged up by 0.1% during the month of February.

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America’s industrial production edged up by 0.1% during February, and was 1.7% higher than a year earlier.

Inflation in the euro area fell to 0.9% in February from 1% in January. Industrial production grew by 1.4% in the year to the end of January. ...

More than 15,000 people died or went missing as a result of natural and man-made catastrophes in 2009, according to Swiss Re, an insurance firm. In Asia, the region that was hardest hit, nearly 9,400 lives were lost, around 1,200 of them in an earthquake in Indonesia in September; the total damage was $2.3 billion, of which only $50m was insured. The insurance firm puts the total economic losses from catastrophes in 2009 at $62 billion, of which $26 billion, or less than half, was covered by insurance. Winter storm Klaus, which hit France and Spain in January, was the most costly event of 2009. The storm caused heavy rain and flooding, claimed 25 lives and cost insurers almost $3.4 billion.

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During the past twelve months many major currencies have risen against the dollar. The appreciation has been most marked for the Australian dollar, which has strengthened by 41.9% against the greenback. New Zealand’s currency, which has appreciated by 40.9%, follows closely behind. Sterling also appreciated against the dollar over the past year, though its recent bout of weakness can be seen in a 7.3% drop since December 31st 2009. Several other rich-world currencies, like the Swiss franc and the euro, have also fallen against the dollar since the end of last year. Emerging-market currencies like the rouble, the Indian rupee and the zloty have all appreciated against the dollar over the same period.

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