Inflation arrives: "US consumer prices rose sharply in March as the economic recovery gained momentum, marking the start of an expected months-long pick-up in inflation pressures," says
Gwynn Guilford in The Wall Street Journal. Year-on-year inflation jumped from 1.7% in February to 2.6% in March, the highest figure since August 2018. The key culprit was a 9.1% jump in petrol prices; the sector has yet to recover fully from production problems caused by severe winter storms.
When G7 Foreign and Development Ministers meet in London this week they will discuss investing $15 billion in developing countries in the next two years. This development fund will help women access jobs and build resilient businesses to combat the devastating economic impacts of COVID-19.