Markets shrug off US inflation worries to make fresh gains

Last week's steep drop in equity prices is fading memory despite predictions of US interest rate hikes

New evidence of mounting US inflation has failed to derail the recovery from last week's plunge in share prices, with global stock markets registering fresh gains.

Last week's steep drop in equity prices was a fading memory as Wall Street shrugged off concerns that mounting cost of living pressures could force the Federal Reserve, the US central bank, into a series of interest rate rises in 2018.