CPI Data Preview: US inflation expected to slow down in June – by FXstreetNews Inflation CPI Macroeconomics UnitedStates SEO
Consumer Price Index in the US is forecast to rise 3.1% in June, down sharply from the 4% increase recorded in May.US CPI inflation report is set to influence the Fed’s rate outlook and the US Dollar’s valuation. inflation data for June will be published by the US Bureau of Labor Statistics on July 12 at 12:30 GMT.
The monthly Consumer Price Index is forecast to rise 0.3% in June, having inched 0.1% higher previously. The Core CPI is anticipated to increase 0.3% in the same period. Since annual CPI readings are subject to base effects, markets are likely to react to changes in monthly figures.of New York's monthly Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation dropped to the lowest level since April 2021 at 3.8% in June from 4.1% in May.
Analysts at TD Securities provide a brief preview of the key macro data and explain: “Our estimates for the CPI report suggest core price inflation likely lost meaningful momentum in June: We expect it to print 0.2% m/m — the slowest monthly pace for the core since 2021. We also look for a similar 0.2% gain for the headline. Importantly, we expect the report to show that core goods prices shifted to deflation, while shelter-price gains likely slowed down again.
Previewing the potential market reaction to CPI data, “a welcome slowdown of Core CPI to 0.2% MoM or weaker would be what markets are craving”, noted
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