Hormuz still fragile, but inflation returns as the next big issue
Kia ora.
Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.
I'm David Chaston and this is the international edition from Interest.co.nz.
Today we lead with news more vessels are moving out of the Strait of Hormuz, but 'incidents' are generating nervousness in a fragile situation.
First, US PCE inflation rose to 4.1% in May and as expected, a rise from 3.8% in April. Core PCE inflation rose too, also as expected and is now at 3.4%. Meanwhile both personal income and personal spending rose at essentially the same pace.
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