Odaily星球日报讯 美国 7 月未季调核心 CPI 年率为 3.2%，连续第 4 个月回落，为 2021 年 4 月以来最低水平，符合市场预期。美国 7 月未季调 CPI 年率为 2.9%，连续第四个月回落，是 2021 年 3 月以来首次重回“2 字头”，市场预期为 3%。（金十）

美国CPI低于预期重回“2字头”，连续第四个月回落

Odaily Odaily reported that the U.S. unadjusted core CPI annual rate in July was 3.2%, falling for the fourth consecutive month, the lowest level since April 2021, in line with market expectations. The U.S. unadjusted CPI annual rate in July was 2.9%, falling for the fourth consecutive month, the first time it has returned to the &quot;2-digit&quot; since March 2021, and the market expectation is 3%. (Jinshi)

US CPI fell below expectations and returned to the "2-digit" level, falling for the fourth consecutive month

Odaily reports that Danske Bank expects the seasonally adjusted overall CPI and core CPI in the US to rise 0.2% month-over-month. This is the second-to-last important data release before the next FOMC meeting in September, and the Federal Reserve will undoubtedly closely monitor these data. Yesterday, due to the relatively mild PPI data released, US Treasury yields fell across the board, and the stock market rose, with the Nasdaq index led by tech stocks. The market's pricing for the upcoming September Fed meeting has also changed slightly, with the market currently seeing a slightly higher probability of a 50 basis point rate cut in September compared to 25 basis points. However, it is worth noting that due to the surge in concerns about an economic recession last week, the pricing has been very unstable recently.

Danske Bank: CPI is expected to rise moderately, and the Fed will pay close attention to inflation data

According to Odaily, the US producer price index (PPI) increase in July was lower than expected, indicating that inflationary pressures continue to ease. The data released on Tuesday showed that the PPI index representing final demand rose 0.1% from the previous month. The median forecast of economists surveyed was for a 0.2% increase. Furthermore, the PPI increased 2.2% compared to a year earlier. Excluding the more volatile food and energy categories, the July PPI was flat from the previous month, the mildest reading in four months. The more closely watched consumer price index (CPI) data will be released on Wednesday, and is expected to show a slight increase. Against the backdrop of easing inflationary pressures, the weak employment data in July has led economists to expect the Federal Reserve to begin a series of interest rate cuts starting next month.

The US July PPI increase was lower than expected, and economists expect the Federal Reserve to start a series of interest rate cuts starting in September.

Odaily Planet Daily Report: The US July PPI monthly rate was 0.1%, expected to be 0.20%, and the previous value was 0.20%; the US July PPI annual rate was 2.2%, expected to be 2.30%, and the previous value was revised from 2.60% to 2.7%. (Golden Ten)