Wednesday's CPI report will be closely watched to see if the tariffs imposed in recent months are finally pushing prices higher, something they have failed to do so far.
Here is what Wall Street expects:
- Consensus is looking for CPI to rise by +0.3% M/M in June, picking up in pace vs the +0.1% in May
- Core CPI is also expected to rise by +0.3% M/M in June after the +0.1% in May.
