Customers at a fresh food market in Shanghai, China, on Monday, Aug. 7, 2023.
Asia-Pacific markets tumbled after U.S. inflation for March came in hotter than expected, climbing 3.5% on a year-on-year basis and 0.4% higher compared to the previous month.
Economists surveyed by Dow Jones had been looking for a 0.3% month-on-month gain and 3.4% year-over-year.
Excluding volatile food and energy components, the core CPI also accelerated 0.4% on a monthly basis while rising 3.8% from a year ago, compared with respective estimates for 0.3% and 3.7%.
Investors in Asia will also monitor China's inflation figures Thursday, with economists polled by Reuters expecting the consumer price index to climb 0.4% in March.
Persons:
Dow Jones
Organizations:
Investors, Reuters
Locations:
Shanghai, China, Asia, Pacific