New inflation data reveals price pressures stay high but limited. Analysts highlight three major causes that higher borrowing costs cannot address. Diesel prices hit a record high, raising outlays throughout the whole economy.
Global banks anticipate another Federal Reserve hike after recent inflation surprises. Central bankers are moving in a hawkish direction. In Australia, the Reserve Bank is under pressure for a fifth increase prior to its policy meeting. The data adds to concerns about ongoing price increases.