The Commonwealth Bank has predicted that "red hot" consumer inflation will continue over the September quarter, and the Australian share market has dropped on fears that more aggressive interest rate rises by the US central bank will trigger a recession.
The latest official consumer price rise figures will be out next Wednesday, and Commonwealth Bank head of Australian economics Gareth Aird is expecting the data to show that inflation is running at 7 per cent over the year, despite a string of interest rate rises by the Reserve Bank.
