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welcome to our look at their business news. we start in the us, where hopes of cheaper borrowing costs this summer have been dashed by a bigger than expected rise in inflation. america s consumer price index for march showed price rises are actually accelerating instead of coming down. the price of goods and services was up 3.5% year on year in march faster than the 3.2% rise seen in february. it s the third month in a row that inflation has come in higher than expected, and it s still way above the 2% targeted by america s central bank, the us federal reserve. markets had been betting the fed would start cutting interest rates from june. they now don t expect a cut until september or even november. here s erin delmore in new york. when we saw hotter than expected inflation reports in the past, they were explained away as being seasonal or a one off. now we see three street reports that have come in hotter than expect it and after steve falls from its record high in mid 202
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