Here's our summary of key economic events overnight that affect New Zealand, with news inflation seems to be cooling in the world's largest economies. On Tuesday we noted the retreat of Chinese inflation, today the US is signaling a retreat as well. The closely-watched US CPI inflation rate slowed for a ninth consecutive period to 5.0% in March from the same month a year ago, its lowest since May 2021. Markets liked the inflation result however, and stocks initially rose, bond yields didn't react, and the USD firmed. Indian industrial production rose at a little-changed rate in February (+5.6% from a year ago), and their consumer inflation rate slipped to 5.7% in March from +6.4% in February, and close to the top of their wide inflation target range.

Source: Stuff April 12, 2023 20:40 UTC