Fresh price data shows price pressures stay high but limited. Analysts point to three key factors that interest rate hikes may not fix. Diesel prices set a record high, adding to costs for the broader economy.

Global banks anticipate another Federal Reserve hike after recent inflation surprises. Central bankers are turning more hawkish. 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.