Hot inflation sends shares lower

US consumer price index data showed inflation is running hot. (Image: Getty)

Thu, 12 May 2022

New Zealand shares slid half a percent as the United States consumer price index data showed inflation is still running hotter than many had hoped.The S&P/NZX 50 Index fell 56 points, or 0.5%, to 11,177.36. Turnover was $141 million.Consumer price data released in the US this morning showed prices increasing faster than most had expected.While the headline figure fell to 8.3% – from 8.5% last month – most were predicting a number closer to 8%.“Although still early days, the stronger data were a blow to those expecting a ra...

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