U.S. July CPI to Strike on Wednesday, Goldman Sachs: Core Data Will Be Below Expectations

The U.S. Consumer Price Index (CPI) for July is set to be released on Wednesday evening, further proving that inflation pressure is no longer a top concern for the market. Goldman Sachs economists expect the U.S. core CPI for July to rise by less than expected at 0.16%. It is anticipated that the CPI for July will increase by 0.2% month-on-month, with the annual inflation rate remaining at 3%. The core inflation rate for July is expected to rise by 0.2% month-on-month, with the annual inflation rate slightly decreasing to 3.2%. Senior economists at Ernst & Young Parthenon stated that the July CPI report "will provide more evidence that the slowdown in inflation is continuing." This report will "strengthen the case for the Federal Reserve to cut interest rates at the September meeting"