Fresh price data reveals price pressures remain elevated but contained. Analysts cite three major causes that interest rate hikes may not fix. Diesel prices set a record high, raising outlays throughout the whole economy.
Global banks are bracing for another Federal Reserve hike after recent inflation surprises. Central bankers are shifting toward a tougher stance. In Australia, the Reserve Bank is under pressure for a fifth increase prior to its policy meeting. The data raises concerns about stubborn inflation.