heavyweight! The U.S. CPI is coming soon.
On Wednesday evening, the U.S. Department of Labor will release the July CPI data, with the agency's expected value of 8.70%, and the previous value of 9.10%. Recently, with the fall in prices of commodities such as energy and other factors, the market generally expects inflation pressure to fall this month.
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Media analysis pointed out that as the biggest driving force of this round of inflation in the United States, the sharp decline in energy prices has played a key role in the sharp decline in energy prices since July. International oil prices have fallen to nearly half a year low due to market concerns about a global recession. At present, the average domestic gasoline price in the United States has fallen back from a historical high of more than $5, which was set in June to $4.18. In addition, agricultural product prices have also eased with the restart of the export of grain from Ukraine .
At the same time, the latest data from the Food and Agriculture Organization of the United Nations showed that global food prices fell sharply in July compared with the previous month, especially the prices of wheat and vegetable oils cooled down sharply. Data shows that the FAO food price index fell by 8.6% in July compared with the previous month. In June this year, the index fell only 2.3% month-on-month. However, compared with July last year, the food price index was still 13.1% higher in July this year.
American CPI hits a 40-year high! A picture to understand the inflation levels of various countries
Previously, due to the outbreak of the Russian-Ukrainian war, global commodity and food prices rose sharply, directly driving the inflation rate of many countries around the world.
Among them, the US Consumer Price Index (CPI) rose 1.3% month-on-month and 9.1% year-on-year. This is the largest month-on-month increase in the U.S. price index this year, and it is also the third year-on-year increase to hit its peak in 40 years after March and May.
Data source: Tonghuashun IFIND
