S&P Global: July US CPI data will be a key economic indicator in the new week

PANews reported on August 10th that, according to Jinshi, S&P Global stated that the July US CPI data will be a key economic indicator for the coming week. Markets are awaiting the report with bated breath amid expectations that tariffs will drive inflation higher. While recent tariff developments (including the higher tariffs imposed on August 7th and the newly threatened 100% tariff on chips) appear to indicate rising inflation, overall US consumer price inflation remained below 3.0% in the second quarter. Notably, S&P Global's US PMI, a leading indicator of CPI trends, has already hinted at a potential rise in inflation in the second half of 2025. Therefore, the upcoming CPI data will confirm whether price increases began to accelerate in July. This is crucial for the Federal Reserve's monetary policy, which is currently taking a wait-and-see approach given the potential volatility in prices.