July CPI Report Due August 12: Economists Forecast 3.4% Inflation, Down From June's 3.5%

BLS releases July CPI August 12 at 8:30 a.m. ET. Reuters-polled economists forecast 3.4% year-over-year headline inflation, easing from June's 3.5% actual — which itself came in well below the 3.8% consensus. June's surprise cut September Fed hike odds from over 90% to roughly 60%. A 10-basis-point miss either direction could reshape that path.