New inflation data reveals price pressures are still elevated but under control. Analysts cite three key factors that interest rate hikes may not fix. Diesel prices set a record high, raising outlays for the broader economy.
Global banks are bracing for another Federal Reserve hike in light of fresh inflation surprises. Central bankers are moving in a hawkish direction. In Australia, the Reserve Bank feels pressure for a fifth increase prior to its policy meeting. The data adds to concerns about ongoing price increases.