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Inflation has remained above 10pc as soaring food prices heap pressure on households.
The consumer prices index slipped to 10.1pc in March, down from 10.4pc in February.
However, economists had expected the figure to drop into single digits for the first time since August last year.
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What happened overnight
Asian equities fell as traders weighed earnings from Wall Street and Chinese stocks were hit by shareholders’ plans to trim their stakes.
MSCI’s Asia Pacific Index declined 0.4oc while the Hang Seng China Enterprises Index slid as much as 1.5pc before paring losses.
Shares of some Korean drama production studios also slipped after Netflix’s subscriber numbers trailed Wall Street estimates.
Wall Street’s main equity indexes closed little changed on Wall Street following a mixed set of corporate earnings reports, including Goldman Sachs.
The S&P 500 rose 0.1pc to 4,154.87. The Dow Jones Industrial Average fell less than 0.1pc to 33,976.63.
The tech-heavy Nasdaq composite also fell less than 0.1pc to 12,153.41.
The yields on longer-dated US government bonds retreated after Atlanta Federal Reserve President Raphael Bostic said that the central bank could only have one more interest rate hike ahead.
The yield on 10-year Treasury dipped by 1.3 basis points to 3.578pc, while the two-year US Treasury yield climbed 2.8 basis points to 4.216pc.
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