Euro-area inflation hit yet another record and more will be in store in the coming months. Price pressures have become broad-based and despite weaker economic data, the ECB will continue to sound hawkish and start raising rates later this month. • Another record inflation print should cement the ECB’s plans to start raising interest rates later this month, and the likely further rises in inflation ahead support a bigger rate increase at the September meeting. • Price pressures have become much broader in the first half of 2022 and they do not show signs of any quick easing. • The fall in German inflation reported ... (full story)