Due at 1230 GMT on the 10th.

us cpi August 10 previe

This snapshot from the ForexLive economic data calendar, access it here.

The times in the left-most column are GMT.

The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where is a number, is the consensus median expected.

Via Scotia:

The Cleveland Fed’s inflation ‘nowcast’ points toward inflation running a tenth or two beneath 9% y/y and it has been slightly underestimating actual CPI inflation for several months

Further, while some PMIs have been indicating lessening price pressures, small businesses are not

Other drivers are somewhat mixed.

Year-ago base effects will shift toward dragging the year-over-year headline and core rates down by about a half percentage point or slightly less in both cases.

July is typically a modest month for seasonality.

House prices will probably keep owners’ equivalent rent on the hot side.

All-grades retail gasoline prices fell by over 7% m/m NSA and about half that in seasonally adjusted terms. Henry hub natural gas prices fell by about 5% m/m NSA but the tiny weight on piped gas of under 1% should mean minimal drag.

Used vehicle prices seem to have fallen and are estimated to knock about 0.1% m/m off overall inflation while new vehicle prices seemed to be fairly flat.

Food-at-home and food-away-from-home are assumed to combine for another gain of around 1% m/m but pressures may be abating

There is also likely to be an ongoing reopening effect upon prices as pent-up services demand continues to get unleashed.