The consumer price index excluding food and fuel, a measure favoured by economists as a better indicator of underlying price pressures, is seen increasing 0.3% for a second month.
Underlying US inflation is seen rising at a monthly pace that corroborates the message from central bankers that interest rates will need to stay higher for longer.
A slew of US central bankers will speak in the coming week, including Vice Chair Philip Jefferson. Governor Christopher Waller and regional Fed presidents Lorie Logan, Raphael Bostic, Neel Kashkari and Susan Collins also speak. Asia China’s new central bank chief Pan Gongsheng is set to make his first big international appearance in Marrakech. Investors and policymakers will want to know his views on China’s economy, property market, and the likely path of monetary policy.
At the end of the week Malaysia unveils its budget plans, while China will also report its latest inflation figures. In the UK, monthly gross domestic product data for August comes on Thursday, anticipated by economists to show a small increase that doesn’t make up for July’s 0.5% drop. Turkey’s current-account deficit is expected to shrink significantly in August, to $500 million, according to a Bloomberg survey of economists. If the data on Wednesday confirms that, it may help ease pressure on the lira.