US: Headline CPI inflation to hold at 2.9% y/y in July - TDS

Analysts at TD Securities expect US headline CPI inflation to hold at 2.9% y/y in July with prices up 0.2% on the month, in line with market expectations.

Key Quotes

“Energy prices will remain the predominant driver on a y/y basis but decelerating food prices will provide some offset. We are likewise on consensus for core CPI which should remain unchanged at 2.3% y/y, reflecting a 0.2% m/m increase.”