Global markets are keeping a close eye on inflation data out of the U.S. on Wednesday. The June consumer price index is expected to show headline inflation, including food and energy, rising above May's 8.6% level to 8.8%, according to estimates from Dow Jones.
The hot reading expected Wednesday could prompt the Federal Reserve to hike interest rates by another 75 basis points during this month's meeting. Last month, the Fed raised its benchmark interest ratesStay informed about local news and weather. Get the NBC 7 San Diego app for
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