Global Markets: U.S. consumer prices rise

By MarketsFarm

WINNIPEG, March 10 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Consumer prices in the United States posted solid increases in February, notching their largest annual gain in a year, according to updated data from the U.S. Labor Department. The Consumer Price Index was up by 0.4 per cent on the month, taking annual CPI growth to 1.7 per cent. That was in line with expectations and marked the best growth since pandemic shutdowns first started in March 2020.

– The aftermath of a series of blasts in Equatorial Guinea that killed over a hundred people is still being felt three days later, as thousands have fled the capitol city of Bata for the countryside. Hospitals and morgues have both run out of space, while many children are reportedly separated from their parents.

– Brazil marked a daily record of COVID-19 deaths on Tuesday, with 1,972 confirmed dead by the country’s health ministry. That would mark the second-largest single daily death toll worldwide, behind the U.S. Hospitals in the country are reportedly being overwhelmed with new cases and the World Health Organization is warning that neighbouring countries could be at risk if Brazil does not take stopping the virus more seriously.

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