Inflation figures for the US were released yesterday, with the annual inflation rate accelerating to 8.5% in March, the highest since December of 1981 from 7.9% in February and compared with market forecasts of 8.4%.
This was driven by energy prices and food prices, which jumped 8.8% – the most since 1981. The dollar weakened on news of high inflation, possibly because expectations for high inflation and aggressive action from the Federal Reserve have reached their peak.
Tomorrow, retail sales and consumer sentiment figures will be released for the US.
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