Shares rise as markets ignore ‘shocking’ inflation

New Zealand shares and dollar moved higher as investors were unfazed by annual inflation in the United States hitting 5% in a data release overnight. The S&P/NZX 50 Index rose 32.38 points, or 0.3%, to 12,550.39. Within the index, 22 stocks fell, 22 rose and six were unchanged. Turnover was $163.8 million.BNZ interest rate strategist, Jason Wong said the market was “unperturbed by the shockingly high” consumer price index with the S&P 500 moving higher and market interest rates falling.The domestic rates market followed...
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