Markets are bracing for the release of government data on inflation on Wednesday, with analysts predicting prices grew 8.8 percent in June, outpacing the prior month’s pace, putting the Fed on track to maintain its path of aggressive rate hikes.
Analysts at a number of Wall Street banks and other financial institutions have issued forecasts predicting that when the Bureau of Labor Statistics (BLS) releases its inflation data on July 13, the number could be as high as 8.9 percent in annualized terms.
At the low end, Visa and JPMorgan expect the Consumer Price Index (CPI) data to show prices grew 8.6 percent in June, while at the high end, Citi and BNP Paribas are forecasting 8.9 percent, with the median around 8.8 percent….