Inflation is expected to cool again in today's July CPI report
Economists anticipate a modest cooling of inflation in the upcoming July CPI report, driven by lower rent growth and moderating wage gains. The data is critical for the Federal Reserve's upcoming interest rate decisions amid concerns over slowing job growth.
Why it matters
Inflation data directly influences Federal Reserve policy, which impacts borrowing costs, consumer spending, and the broader economic outlook for the US.
The Bureau of Labor Statistics will publish new consumer price index data. Allison Joyce/Bloomberg via Getty Images The Bureau of Labor Statistics will publish new consumer price index data at 8:30 a.m. ET. Economists expect inflation to have cooled modestly in July, with wage growth still falling short. There will be another CPI report before the Fed meets again to decide on interest rates. We're about to find out if inflation continued to cool off. The Bureau of Labor Statistics will publish the July consumer price index report at 8:30 a.m. ET. Inflation slipped to 3.5% in June, the lowest rate since March and cooler than the expected 3.8%. The consensus forecast for July is a modest cooling down to 3.4%.
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