The latest inflation report reveals price pressures remain elevated but contained. Analysts point to three key factors that interest rate hikes may not fix. Diesel prices set a record high, raising outlays throughout the whole economy.

Global banks now expect another Federal Reserve hike after recent inflation surprises. Central bankers are moving in a hawkish direction. In Australia, the Reserve Bank feels pressure for a fifth increase before its upcoming cash rate decision. The data adds to concerns about ongoing price increases.