This surprising inflation gauge says RBA may still need to hike twice

Another week of strikes between Iran and the United States, and the price of just oil keeps rising.

Brent crude surged on Friday, up 4.6 per cent to about $US88 ($126), following a report that the Trump administration is sending more refuelling planes to Israel, a possible signal that US military operations could expand in the coming days. Crude notched its biggest weekly rise since April and refiner margins – the cost of turning crude into useful stuff such as diesel and petrol – are at record highs.

Source: https://www.afr.com/chanticleer/this-surprising-inflation-gauge-says-rba-may-still-need-to-hike-twice-20260718-p60gfk