July CPI figures to show if US inflation is ‘coming down’

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The Switzer Report founder Peter Switzer says there is a “high expectation" the United States’ July Consumer Price Index numbers will be a sign inflation is "coming down”.

The July Consumer Price Index is set to be released on Wednesday.

“If it’s an eight or seven per cent number the market will really love it … if it's a big number closer to nine, they will say ‘hang on, inflation’s not being beaten’, Mr Switzer told Sky News Australia.
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528, 000 jobs created? Yeah 528, 000 people had to get a second job so they can afford gas and food and rent.

BrianHollingerSHTF
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No, it is not. Inflation is at 17.1% and raising.

joyceduesel
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People taking on more jobs to survive perhaps?
Hard to see how anyone over there can survive on $15 p/h and a lot aren't even on that much.
So inflation figures are dependant on fuel prices mainly then?
Yeah nah part of it for sure but way more involved imo.
Why are the UK talking about inflation going ever higher?

oldbloke