/analysis/inflation-watch-will-this-weeks-data-shed-light-on-inflation/
In the week ahead, inflation-related data will dominate the headlines.
The Consumer Price Index (CPI) and Producer Price Index (PPI) data from the United States and Gross Domestic Product (GDP) data from the UK are expected to provide further clues on the durability of inflation pressures in both countries.
In June of 2022, consumer prices in the United States increased 1.3% month-on-month, the most significant rise since September 2005. This caused an increase in the annual inflation rate to 9.1%, its highest level since November 1981.
Producer prices for final demand in the US leapt 1.1% month-on-month in June of 2022, their biggest rise in three months, with analysts forecasting a slower PPI date at 0.9%.
Meanwhile, the British economy unexpectedly expanded 0.5% month-on-month in May 2022 as shown in the GDP, recovering from a 0.2% contraction in April and rising 1.7% above its pre-coronavirus pandemic levels in February 2020.
British consumers feel more confident about their finances but remain worried about job security and prospects, suggesting a slow recovery for retailers following the Covid-19 lockdown.
The University of Michigan Consumer Sentiment rose to 51.5 in July 2022 from a record low of 50 in June, indicating that consumers are beginning to feel more confident about their finances again following a recession that started at the end of 2020, with fears over whether or not there would be enough food supplies.
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