With such a late jobs week, inflation week is following right behind. Consumer prices are expected to have been unchanged in July, up from the 0.4% decline in June but still on pace for the second-best monthly inflation reading since March 2025.
On an annual basis, inflation is expected to slow to 3.4%. While that would be the lowest level since March, it would still leave inflation roughly 70% above the Federal Reserve’s 2% target.
Core inflation, which excludes food and energy, is expected to rise 0.2% in July, with the annual rate slowing to 2.5%.
Producer prices are also expected to provide some encouraging news, with the PPI forecast to decline 0.1% in July. That would be slightly higher than the 0.3% decline in June, but still the second-best monthly reading since September 2025.
TUESDAY: Existing-home sales are expected to slow to 4.06M in July
WEDNESDAY: 10-Year note auction
THURSDAY: Jobless claims are expected to rise slightly 204,0000
FRIDAY: Retail sales are expected to rise 0.5% in July