According to Deep Tide TechFlow, on August 12, reported by Jin Ten Data, Wells Fargo stated that U.S. CPI data will further indicate that higher tariffs have pushed up prices. The bank wrote: 'We are still in the early stages of the price adjustment process, and it is unclear how the higher import taxes will ultimately be distributed among end customers, domestic sellers, and foreign exporters. Meanwhile, consumers' sense of fatigue is increasingly severe, making it generally more difficult to raise prices.' Looking ahead, Wells Fargo expects inflation to rebound in the second half of this year, but it will not rise significantly, with core CPI and core PCE deflator expected to return to around 3% in the fourth quarter.
U.S. July CPI data will be released at 20:30 Beijing time tonight. The market expects core inflation to rebound moderately, with the Federal Reserve currently showing a 'hawk-dove standoff.' If the data confirms the transmission of tariffs and economic uncertainty, the Fed's path to interest rate cuts may become more cautious.