The Bloomberg survey’s consensus numbers headed into CPI today were for +0.11% on headline inflation and +0.20% on Core. Considering the downside surprises last month, that’s a pretty tame forecast that says ‘no givebacks’ for the surprises. Last month’s downside outlier on CPI, which cemented market consensus that the Fed wouldn’t hike rates in July, … Continue reading Inflation Guy’s CPI Summary (July 2026)