NZAC - Global Inflation Pressures Moderate But Remain Elevated Thanks To Higher Service Sector Prices

2023-04-12 02:39:00 ET

Summary

• Global inflationary pressures continued to moderate in March, though remained elevated by historical standards.
• Looking at what's reportedly driving selling prices higher, the most striking development in recent months is the extent to which energy-driven price hikes have become far less widely reported.
• Demand growth remains sluggish, notably in manufacturing, and the impact of higher interest rates appears to have yet to be fully felt, meaning demand-side factors could limit the extent to which companies can push through higher prices to customers.

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