Inflation fears persist as US interest rate rises

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Traders appeared spooked by a new UN report that suggested food prices have risen at their fastest level in 60 years and look set to keep soaring due to the war in Ukraine restricting food supplies.

The country is a major producer of sunflower oil, which is pushing up the price of alternatives globally, along with being a major source of wheat and corn.

As a result, investors seemed convinced the US fed will raise interest rates this year to tackle soaring inflation.

 

Yahoo! News

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