Asian shares rose as US inflation figures showed a rise in line with expectations, raising hopes that the Fed’s cycle of interest rate increases is coming to an end. The Labour Department’s Consumer Price Index revealed a 4.9% increase in April year on year, compared with an expected 5%. However for the month-on-month increase in April, the CPI rose 0.4%, up from 0.1% in March. China’s consumer price growth data was also scrutinised but the nation’s factory gate deflation deepened, suggesting fresh stimulus may be needed to boost the coronavirus-hit economy.
