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8/12/2026

July CPI Report Preview: Inflation Expected to Ease to 3.4% as Fed Weighs a September Rate Hike

New inflation data due out Wednesday is expected to show consumer prices rising 3.4% year over year in July, according to economists surveyed by Bloomberg, a slight improvement from June’s 3.5% annual increase. On a monthly basis, economists expect prices to rise just 0.1% from June, when the Consumer Price Index posted a surprise 0.4% monthly decline.

3 min read