Inflation Data To Set Wall Street’s Tone

The Wall Street will be awaiting cues from key inflation-related updates, the ECB’s policy review and some earnings reports this week.

On Thursday, the US will release its August the Producer Price Index (PPI) report, an indicator of inflation at the wholesale level, the Associated Press reported. The PPI report will provide details on prices for businesses before these are passed along with the costs to consumers.

A day after the US Consumer Price Index (CPI) for August would be out. The CPI is a keenly followed indicator that provides details on price changes for specific grocery items, furniture, and clothing, apart from providing details on price shifts for services ranging from car maintenance to travel and restaurantdining.

The reports will give Wall Street and the Federal Reserve a heads up on the trajectory of inflation in the US.

The rate of inflation has been hovering above 3% stoking concerns among businesses and households.

The pace of inflation has also left wage growth way behind, adding another layer of economic misery on households.