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Inflation, Not Jobs, Is the Focus This Week. Expect Positive News
Economics
Inflation, Not Jobs, Is the Focus This Week. Expect Positive News.
By Nicholas Jasinski
Aug 12, 2024, 4:01 pm EDT
A slowing labor market may be getting all the attention lately, but U.S. inflation will be back in the headlines this week. Data on Tuesday and Wednesday are expected to show that price growth remained relatively tame in July, keeping alive expectations that the Federal Reserve may cut interest rates in September.
{snip}
Inflation, Not Jobs, Is the Focus This Week. Expect Positive News.
By Nicholas Jasinski
Aug 12, 2024, 4:01 pm EDT
A slowing labor market may be getting all the attention lately, but U.S. inflation will be back in the headlines this week. Data on Tuesday and Wednesday are expected to show that price growth remained relatively tame in July, keeping alive expectations that the Federal Reserve may cut interest rates in September.
{snip}
Economic Report
Don’t expect inflation to take a turn for the worse in PPI and CPI reports
Slower increases in rent and shelter are a good sign
By Jeffry Bartash
Published: Aug. 12, 2024 at 3:17 p.m. ET
The rate of inflation probably rose a bit faster in July compared with the month before, but not enough to set off alarm bells or alter a clear slowdown in price increases. The Federal Reserve is likely to remain on track to cut interest rates next month. ... Here’s what to watch in the critical wholesale and consumer-price indexes this week.
Producer-price index
The PPI comes ahead of the consumer-price index for one of the few times in the year. The government on Tuesday is expected to report a 0.2% increase in wholesale prices in July, matching the gain in the prior month.
The so-called core PPI, seen as a better measure of wholesale inflation, is also forecast to climb 0.2% in July, but that would mark an increase from no change in the prior month. ... The core rate omits food, energy and trade margins, categories prone to large fluctuations in price over the short run.
{snip}
Consumer-price index
Don’t expect a second straight drop in the consumer-price index. The CPI fell in June for the first time since 2020, helped by a decline in gas prices. ... Economists polled by the Wall Street Journal predict a 0.2% increase in the CPI in July when the government releases the report on Wednesday.
{snip}
Don’t expect inflation to take a turn for the worse in PPI and CPI reports
Slower increases in rent and shelter are a good sign
By Jeffry Bartash
Published: Aug. 12, 2024 at 3:17 p.m. ET
The rate of inflation probably rose a bit faster in July compared with the month before, but not enough to set off alarm bells or alter a clear slowdown in price increases. The Federal Reserve is likely to remain on track to cut interest rates next month. ... Here’s what to watch in the critical wholesale and consumer-price indexes this week.
Producer-price index
The PPI comes ahead of the consumer-price index for one of the few times in the year. The government on Tuesday is expected to report a 0.2% increase in wholesale prices in July, matching the gain in the prior month.
The so-called core PPI, seen as a better measure of wholesale inflation, is also forecast to climb 0.2% in July, but that would mark an increase from no change in the prior month. ... The core rate omits food, energy and trade margins, categories prone to large fluctuations in price over the short run.
{snip}
Consumer-price index
Don’t expect a second straight drop in the consumer-price index. The CPI fell in June for the first time since 2020, helped by a decline in gas prices. ... Economists polled by the Wall Street Journal predict a 0.2% increase in the CPI in July when the government releases the report on Wednesday.
{snip}