Key Inflation Report Due August 12 as Prices Still Rising Too Fast for the Fed

The government reports July inflation at 8:30 a.m. ET on August 12. June's prices were up 3.5% from a year earlier — above the Fed's 2% goal. Bond yields and the dollar strengthened ahead of the report. Another slowdown could revive hopes for lower interest rates; faster inflation would push Fed officials who want higher rates.