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Daily Alert: Markets rattled by super-charged US inflation surprise

  • Investors’ inflation concerns were whacked into overdrive overnight, as US April CPI figures showed inflation unexpectedly surging to a 12-year high.
  • In terms of monetary policy implications, the April inflation spike is not necessarily out of line with the Fed’s view that inflation will rise over the next few months, but that this increase will ultimately be temporary.
  • Locally, this morning’s NZ food price figures should show a decent (seasonal) increase.

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