July CPI likely to reaffirm that U.S. is navigating a rocky inflation path
The financial market’s savviest inflation traders are bracing for Thursday’s release of the U.S. consumer price index for July to reaffirm that inflation is on a rocky road toward 2% over the months to come.
The U.S. is settling into what many see as the final mile of the road to reducing inflation back toward the Federal Reserve’s 2% target, though the path is not expected to be smooth through at least September. Higher gasoline prices are playing a major role in that and are nudging up the expectations of fixings’ traders, who now expect an annual headline CPI rate of 3.6% for August and almost 3.4% for September.
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