US inflation “modestly firmer” in July, still supportive of a Fed rate cut in September

US CPI data is due on Wednesday August 14 at 0830 US Eastern time:

Via Bank of America economists, they expect that U.S. inflation in July will show a slight uptick. Nevertheless, it’ll remain supportive of a potential Fed rate cut in September.

• BoA notes that June’s CPI figures came in lower than anticipated
• expects some of that softness to reverse in July

BofA sees the Fed cutting rates by 50 basis points this year.

This article was written by Eamonn Sheridan at www.forexlive.com.