NZ shares climb as investors absorb inflation data

Oil prices have fallen since the June data was collected, giving consumers some relief at pump. (Photo: Yassine Khalfalli on Unsplash)

Dan Brunskill

Thu, 14 Jul 2022

New Zealand's sharemarket lifted on Thursday, despite US inflation data coming in hot and prompting discussion of the Federal Reserve hiking rates by 100 basis points. The S&P/NZX 50 Index rose 77.63 points, or 0.7%, to 11,187.97. Turnover was $106 million.Inflation hit another new high in the US overnight, hitting 9.1% year-on-year ahead of market expectations for an 8.8% increase.One member of the US Fed’s open market committee said there was “no good news” in the data, and another said the central bank could c...

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