Headlines discussed at LNWM’s Monday morning briefing:
— US consumer prices rose 0.8% in April, biggest monthly increase since 2009; food costs climbing twice as fast as before Covid-19.
— US import prices were also up in April (+0.7%) after rising 1.4% in March, 1.2% in Feb. and 1.5% in Jan. 2021, contributing to a 10.6% climb since April 2020.
— A key index of US consumer sentiment for the next six months dropped to 78 in May (from 83 in April), with inflation cited as key concern.
— US retail sales were flat in April, after surging 10.7% in March on stimulus spending.
— To combat global semiconductor shortage likely to last through 2022, S. Korea will spend more than $450 billion by 2030 to boost output.
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