Consumer prices were unchanged in July and there's a good chance that prices will fall outright in August. With core consumer prices increasing by a more modest 0.3% m/m last month, which was a 10-month low, we still think the Fed will hike interest rates by 50bp at the upcoming meeting in September.
CPI Drop-In (10th Aug): Will July finally mark the turning point for US inflation? Join our US Economics team for a briefing shortly after the CPI release for a briefing on the inflation outlook and the Fed response. Register now.
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