Inflation hacks share prices

Higher fuel costs are pushing inflation higher and could force central banks to hit back hard. (Image: supplied)

Fri, 11 Mar 2022

New Zealand's main share index finished the week down almost 3% as inflation hit a 40 year high in the US, all but guaranteeing the Federal Reserve will hike interest rates next week.The S&P/NZX 50 Index today fell 104 points, or 0.9%, to 11,821.25. Turnover was $210 million.Inflation data for February showed prices in the United States had climbed almost 8%, coming in slightly higher than expectations.ASB Bank economist Mike Jones said the “frightening number” was taken before the Russian invasion of Ukraine and the consequ...

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