-
US inflation hits 8.5% ahead of NZ interest rate decision
Inflation in the United States has reached a 40-year high of 8.5 per cent as central banks, including New Zealand’s Reserve Bank, grapple with decisions over how hard to fight to contain price rises. The jump in US consumer prices was slightly above market expectations and was fuelled by increases in the price of fuel and food, which have been accelerating in price in the wake of Russia’s war on Ukraine. The acceleration in the US consumer price index, which rose by 1.2 per cent in the month of March alone, appears to be cementing expectations that the US Federal Reserve will raise interest rates by 50 basis ... (full story)