Watch Out For US CPI Inflation This Week

Last week, U.S. job growth unexpectedly accelerated in July, running counter to concerns that soaring price inflation and surging interest rates are hitting labor demand in the world's largest economy.

US non-farm payrolls rose by 528,000 during the month versus the revised figure of 398,000 in June. Analyst had expected the reading to slide to 250,000.

A trio of Fed officials, including known doves San Francisco Fed President Mary Daly and Chicago Fed President Charles Evans, signaled last week that there would be no let-up in the hefty rate hikes, even though they could significantly curb economic activity.

In the upcoming week, the U.S. consumer price index will release Wednesday.

The U.S. CPI number is expected to show an 8.7% year over year increase in July from 9.1% in June. US core CPI is expected to increase by 0.5% month-over-month, pushing the annual rate up to 6.1% from 5.9% in June

Moreover, the economic calendar features data on Producer price index, initial jobless claims and the University of Michigan consumer sentiment index.

08 Aug 22 (Mon)

03:13 am