The salmon market is facing a globalsupply shock, says Emiko Terazono inthe FT. A toxic sea algae, apparentlyrelated to unusually high watertemperatures caused by the El Niophenomenon, has killed almost 24million fish in Chilean salmon farms.
Output in the world's No. 2 salmonproducer is expected to slide by15%-20% from 2015's level. Norway,the biggest producer, has alreadypencilled in lower 2016 outputowing to an outbreak of disease lastyear. Throw in a recent fall in theNorwegian krone, which has made the country's fish more competitiveon international markets, and it's nowonder Norwegian fresh salmonexport prices have leapt by around40% in the past year.
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UK inflation slowed again in March – but a rate cut could be some months awayThe latest Consumer Price Index (CPI) data came in at 3.2% for March. This was slightly higher than some economists expected, but takes us closer to the Bank of England’s 2% inflation target.
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