Surging oil and fuel prices have sharply increased market expectations that the Federal Reserve will raise interest rates by 25 basis points this week.

Markets are now betting on a 90% chance of a rate hike at Wednesday's Fed policy meeting.

Recent inflation figures have exceeded expectations, leading many to anticipate a rate hike from the Federal Reserve. Core consumer prices increased more than what economists…

In August, consumer prices surged, strengthening the anticipation of Federal Reserve rate hikes. The core inflation saw its most substantial rise in four months, pointing to…

In the US, hotter-than-expected consumer inflation and the biggest monthly increase in producer prices since May bolstered the case for a Federal Reserve rate hike next week.

Traders are pricing in 25 basis point rate increase this week