Even an uptick in inflation is unlikely to spoil a Fed rate cut
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US inflation is expected to have risen 0.2% in July, but not enough to prevent a Federal Reserve interest-rate cut next month; Fed officials are confident that they can lower borrowing costs while focusing on the labor market; The July jobs report showed a slowdown in hiring and an increase in the unemployment rate, contributing to a global stock market selloff; The consumer price index is expected to show a slight pickup in inflation due to higher shipping costs for goods; The long-awaited slowdown in shelter costs is expected to continue; Other economic data to be released include retail sales, inflation expectations, small business sentiment, industrial production, and new home construction; Central banks in New Zealand, Norway, and the Philippines are expected to make decisions on interest rates; In Europe, the UK will release data on wages, inflation, production, and retail numbers; The euro zone will have a relatively quiet week with releases on investor confidence, industrial production, and GDP; In South America, Argentina will report inflation data and budget balance; Brazil, Colombia, and Chile will release GDP-proxy data; In Africa, Zambia is expected to raise rates to curb inflation; Nigeria's inflation is expected to ease for the first time in 19 months; Israel's inflation is likely to quicken due to the war in Gaza; Uruguay is expected to keep its key rate unchanged; Brazil, Peru, and Colombia will report June GDP-proxy data.
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https://fortune.com/2024/08/10/fed-rate-cut-outlook-uptick-inflation-consumer-price-index-economic-data-preview/
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