ADB: Developing Asia Pacific inflation remains elevated, oil price $90
Heads up: The Asian Development Bank (ADB) says inflation in the developing Asia-Pacific region isn't cooling off any time soon.
Prices are expected to rise by 4.2% this year and 3.5% next year, higher than last year's 3%.
The ADB also bumped its oil price forecast up to $90 a barrel, reflecting the ongoing pressure.
Rising costs risk Asia Pacific growth
Rising prices are being driven by global tensions and a harsh El Nino, which have pushed up food and energy costs.
Ongoing conflicts in places like Iran, Yemen, and Ukraine are making oil and grain harder to get, adding to the squeeze.
Growth across the region is set to slow down a bit, and if inflation sticks around, countries like India and Vietnam might need tougher money policies.
For now, subsidies are helping people cope with higher costs, but it's still a tough ride for economies where food takes up a big chunk of spending.