This Week: Consumer prices, retail sales, industrial production
The Labor Department releases its August snapshot of U.S. consumer prices Wednesday
A look at some of the key business events and economic indicators upcoming this week:
EYE ON INFLATION
The Labor Department releases its August snapshot of U.S. consumer prices Wednesday.
Economists polled by FactSet expect the report to show prices rose 3.6% last month from a year earlier. In July, prices rose 3.2% from a year earlier, up from a 3% annual rise in June, which was the lowest rate in more than two years. Inflation in consumer prices has been cooling since June 2022, when it hit a recent high of 9.1%, but it has yet to fall to the Fed’s 2% target.
Consumer price index, annual percent change, not seasonally adjusted:
March 5.0
April 4.9
May 4.1
June 3.0
July 3.2
Aug. (est.) 3.6
Source: FactSet
RETAIL RECAP
The Commerce Department delivers its monthly tally of U.S. retail sales Thursday.
In July, Americans increased their spending at retailers by 0.7% from the previous month, snapping up clothing, online goods and dining out. The uptick reflects the economy’s resiliency despite high prices and higher interest rates that make borrowing on credit cards more expensive. Economists project retail sales edged up 0.2% in August.
Retail sales, monthly percent change, seasonally adjusted:
March -0.9
April 0.4
May 0.7
June 0.3
July 0.7
Aug. (est.) 0.2
Source: FactSet
MANUFACTURING BELLWETHER
The Federal Reserve reports its latest monthly industrial production data Friday.
Overall industrial production, which includes manufacturing, utilities and mining, rose 1% in July from June, the first increase in two months and the biggest gain since January. The gains came amid increases in motor vehicle production and output at factories, mines
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