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Al-Shoubki: Diesel fuels inflation and may trigger rate hikes
The rise in diesel prices indirectly affects the prices of goods and services, as many sectors such as agriculture, transportation, and services rely on diesel, which translates its costs to consumers. American data indicate an increase in both overall and core inflation, with the Consumer Price Index rising by up to 2.6%. This supports expectations that the Federal Reserve will raise interest rates to around 50% by June 2026 to contain inflation and monitor the impact of rising energy prices, which threaten price stability and add inflationary pressures in the markets.
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