Investors will get their latest look at inflation when the Bureau of Labor Statistics releases the June Consumer Price Index (CPI) reading at 8:30 a.m. on July 14.
The CPI tracks the prices of a range of consumer goods and services and serves as a key gauge of inflation for the market
Inflation has remained above the Federal Reserve’s 2% target now for over five years. Headline year-over-year inflation has surged this year, due to the Iran war, which sent oil prices soaring. The market even expects the Fed to raise interest rates later this year to rein in sticky inflation.
Here’s why tomorrow’s report is a big deal for the stock market. Image