At 8:30 a.m. Eastern, the Bureau of Labor Statistics will unveil its inflation report for July, providing insights into the trajectory of prices. Economists polled by Dow Jones anticipate an annual inflation rate of 3.4 percent, a slight decrease from June’s figure of 3.5 percent. The core inflation rate, which omits food and energy costs, is projected to decline to 2.5 percent on a year-over-year basis. This report follows the BLS's announcement that average hourly earnings increased by 3.2 percent in July, indicating that price rises continue to outpace wage growth. Analysts suggest that energy prices are likely to exert only a minimal cooling effect this time around.
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