US stocks close at record high on slower inflation pace
Matthew CranstonUnited States correspondent
Updated
Washington | US stocks closed at a record high on Wednesday (Thursday AEST) after data showed inflation eased in April, boosting market confidence of a September interest rate cut after a run of increasing price pressures.
The consumer price index rose 0.3 per cent last month after advancing 0.4 per cent in February and March, and the annual rate fell to 3.4 per cent from 3.5 per cent in March.
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