According to analysts at Deutsche Bank, the main highlight today is US CPI and analysts at DB expects core inflation (0.23% month-over-month) to rebound in July after a few softer monthly prints.
“According to our team, over the past three months, core CPI has risen at an annualized rate of only 1.74%, well below the year-over-year and 6-month annualized rates which are both near 2.3%. Their forecast is supported by recent firmer readings for alternative inflation gauges and expectations for a rebound in a few categories that have been unusually soft in recent months.”
“A print in line with DB’s forecast would lift the YoY rate for core CPI inflation to 2.32%, which would support the long-standing house call for two more rate hikes this year.”
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