...Today's higher-than-expected reading will certainly stoke inflation fears, said Tim Duy, chief U.S. economist at SGH Macro Advisers. "Whether or not that translates to more sustained inflation over time is still an open question," said Mr. Duy, adding that those concerns are unlikely to sway central bankers. "The Fed has itself locked into their new policy framework and for right now they're treating this as a transitory event."