US inflation reaches 13-year high of 2.6%

Highest level since 2008

clock • 2 min read
The US rate of inflation has hit 2.6% in the 12 months to March
Image:

The US rate of inflation has hit 2.6% in the 12 months to March

The US rate of inflation has hit 2.6% in the 12 months to March, the highest level seen since 2008 and breaching the Federal Reserve's 2% target.

This inflation data is ahead of the consensus expectation and will likely compound some investors' fears that the outlook for US growth stocks is challenged. Should inflation continue to rise, many expect that the Federal Reserve will be forced to act and further hike rates. Such fears have already begun to weigh on markets. Yesterday, the Dow Jones index closed down at 34,269 after falling from an open of 34,572 as fears over inflation grew. Meanwhile the FTSE 100 also fell, closing at 6,939 after opening at 7,123. Willem Sels, CIO of private banking and wealth management at...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Markets

The Big Picture: What were the biggest stories from July?

The Big Picture: What were the biggest stories from July?

Recapping the top stories

James Baxter-Derrington
clock 04 August 2022 • 1 min read
Market Movers Blog: Fed poised for another historic rate hike later this week

Market Movers Blog: Pelosi's Taiwan visit weighs on markets

Latest news and analysis

Investment Week
clock 03 August 2022 • 1 min read
Round up of Q3 and H2 outlooks

Outlook roundup: What is worrying managers in H2

Growing concerns around stagflation

clock 01 August 2022 • 6 min read
Trustpilot