US: August CPI to show consumers received further relief – Wells Fargo – by MSalordFX Inflation Banks UnitedStates
be held September 20-21. According to analysts at Wells Fargo, the CPI will show a decline of 0.2% in August, on the back of a further plunge in gasoline prices. “Consumer price inflation surprised to the downside in July, driven by a big drop in energy prices and a sharp slowdown in both core goods and services. We expect Tuesday's report to show consumers received further relief on the inflation front in August. Specifically, we look for prices to have declined 0.
“The FOMC has been singularly focused on inflation of late, and Tuesday's CPI print will be important in shaping the Fed's latest thinking ahead of its next meeting. While we expect the FOMC to be encouraged by the downshift in inflation since June, core prices continue to advance well ahead of the Fed's target.
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