For Asian economies, every 5% local currency depreciation can push retail inflation up by 20 basis points on average.
Inflation measured via the consumer price index (CPI) remained elevated in the US in August at 8.3%, despite a slight moderation. Thus, at its upcoming meeting this week, the US Federal Reserve is expected to deliver a higher-than-anticipated interest rate hike. In addition, other developed market (DM) central banks such as the European Central Bank and the Bank of England, are seen opting for more front-loaded rate increases.
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