Jeffrey Roach of LPL Financial said it was too early to call the fight against inflation "mission accomplished". He expected July PCE inflation in the US to remain around 2.5 per cent, due on Friday, and "risks remain. Particularly in the context of commodity deflation over the past few months, we could see a slight uptick in monthly data as base effects kick in. I think it will hover around 2.5 per cent over the next few months."