Global inflation: Five ways US rate rise will affect you

The US central bank has announced its biggest rate hike in nearly 30 years as it ramps up its battle to bring soaring consumer prices under control.

It lifted the rate the Federal Reserve charges banks to borrow by three quarters of a percentage point.

The consequences will be felt in nearly every corner of the economy - in the US and abroad.

Here are five ways the rate rise in the US will affect you.

The immediate impact is in the US, where people will face higher borrowing costs...