By Satoshi Sugiyama and Tom Westbrook TOKYO, Sept 1 (Reuters) - Global bond yields hit major new highs on Tuesday as renewed fighting in the Middle East lifted oil prices and investors worried about inflation and braced for a slew of interest rate hikes.

Consumer prices in July were up 3.4% from a year ago — a smaller annual increase than in May or June. The news makes it less likely the Fed will feel the need to raise interest rates in September.

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By Niket Nishant and Utkarsh Hathi Aug 31 (Reuters) - Wall Street futures edged lower on Monday after military clashes between the U.S. and Iran drove up oil prices, stoking inflation fears as the interest-rate outlook turns more hawkish.

Inflation picked up in Germany this month, though less than expected, with few signs of broader price pressures in the economy despite conflict in the Middle East keeping upward pressure on energy costs.

The consumer price index (CPI) growth rose to 3.19 year-on-year (yoy) in August, Statistics Indonesia (BPS) official Ateng Hartono revealed in a press conference on Tuesday, well within the government’s and Bank Indonesia’s (BI) target range of 2.

As a result, a budget deficit is inevitable. Although funds have been allocated in the current fiscal year's budget to implement the new pay structure, there would be a budget deficit even without this additional expenditure.

In August, daily life was 3.3 percent more expensive in the Netherlands than the same month last year. That means inflation increased slightly, compared to 3.2 percent in July. Motor fuels and energy costs were the biggest driver behind the increase last month,