US CPI Preview: August 2023
While August's CPI report could fuel concerns surrounding a 2nd wave of high inflation, leading indicators suggest that there's little reason to be concerned.
Executive summary
Headline CPI growth expected to increase materially in August, but the core CPI is expected to see a material deceleration
I forecast annual CPI growth to rise to 3.7% in August (vs 3.6% consensus) — a material increase from July’s growth of 3.2%. A key driver of the expected increase in CPI growth, is the impact of higher gasoline price…