Inflation Report Coming August 12: Prices Expected to Rise 3.4% Over the Past Year

On August 12 at 8:30 a.m. ET, the government reports how much prices rose over the past year. Economists polled by Reuters expect 3.4%, down from June's 3.5% — itself a pleasant surprise below the 3.8% forecast. June's result halved odds of a September Fed rate hike. Even a small miss could shift those odds again.