The U.S. Bureau of Labor Statistics will release the June CPI report on Tuesday, July 15. Economists forecast a 0.3% month-over-month increase and a 2.6% year-over-year increase. This would represent an increase from the previous month's annual rate of 2.4%. The core CPI, which excludes food and energy prices, is also expected to rise by 0.3% month-over-month.
In a recent publication, The Kobeissi Letter warned:
"If CPI rises next week, a strong sell-off is expected due to concerns that Trump's tariffs will cause inflation."
The Producer Price Index (PPI) data will be released on Wednesday, July 16. Analysts predict a monthly increase of 0.2% to 0.3% and a steady annual increase of 2.6%. The PPI is considered a leading indicator of consumer inflation, and a reading above expectations could strengthen the U.S. dollar, which could pressure risk assets, including cryptocurrencies.
The release of both reports comes at a time when markets weigh the possibility of inflation driven by new U.S. trade tariffs. These economic figures are considered crucial ahead of the Federal Open Market Committee (FOMC) meeting later this month.