Off The Charts: The Visual Says It All

4% APYs sound good. Too bad inflation is taking a bigger bite out of those yields now.

If you’ve been following the news of late, you couldn’t help but notice the cost of diesel fuel has skyrocketed. You may also wonder why it’s important. The cost of diesel is one of the most important components of inflation and will soon make the cost of living rise even further. Why is the cost of diesel fuel rising? How will it impact inflation?

The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.

The details in the latest Consumer Price Index report could compel the Federal Reserve to raise interest rates.

The 12-month rate of inflation as of August 2026 is 3.4%, according to the Bureau of Labor Statistics (BLS). Energy inflation spiked to 16.9% as the status of the Strait of Hormuz remains uncertain. Core inflation, which excludes energy and food, was 2.4%.

In 2022-23 central bankers dreamed of bringing high inflation down without triggering a recession. Some countries came awfully close to achieving it. But with victory tantalisingly close, a growing number of central banks are now redoubling their fight against inflation.

The latest official data point to global inflation cooling slightly in June and July from a recent peak in May, but the latest PMI data hint that it could rise further again in the near term

Midterm elections are looming, and a proposed tax break has resurfaced: a call to index capital gains to inflation. While the idea sounds tempting for individual investors, the execution could come with plenty of headaches.

The Federal Reserve is probably on the verge of a new rate hike campaign.