Fresh price data shows price pressures remain elevated but contained. 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 now expect 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 before its upcoming cash rate decision. The data heightens concerns about stubborn inflation.