Service sector inflation undermines market rally
We said last week the market faced a test with the US CPI (consumer price index) report and that?s exactly how it turned out, with a third successive hotter-than-expected print sending the S&P 500 index down 2% on the week, its worst five-day performance since last October.As expected, it was the ?core? reading excluding food and energy prices which did the damage, with services inflation ? the Fe