S & P Global: July US CPI data will be a key economic indicator for the new week
2025-08-10 04:00:45
US CPI data for July will be a key economic indicator for the new week, according to S & P Global, as markets wait with bated breath for the report amid expectations that tariff policy will drive up inflation. While current developments in tariffs, including higher tariffs imposed on August 7 and the latest threat of a 100 per cent chip tariff, appear to be pointing to higher inflation, overall US consumer price growth has been consistently below 3.0 per cent in the second quarter. It is worth noting that S & P Global's US PMI data, which is a leading indicator of CPI movements, has hinted that inflation may pick up in the second half of 2025. Therefore, the upcoming CPI data will verify whether prices began to accelerate in July. This is crucial for the Federal Reserve's monetary policy, which remains on the sidelines given the potential volatility in prices.
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