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The possibility that the U.S. economy could enter a period of stagflation came into focus Thursday as the quarterly GDP report showed a sharp slowdown in growth and a surprising surge in inflation.
Markets are betting that the US Federal Reserve will start cutting interest rates in June even after inflation came in ahead of expectation.
London's FTSE indexes were trading lower as investors await the latest interest rate decision from the US Federal Reserve later today.
According to new 'flash' figures published today, the US economy grew at an annualised rate of 3.3 per cent between October and December.
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Stubborn inflation is making people feel pretty lousy about their own finances and the economy.