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June CPI Preview - 08:30 EDT/13:30 BST......>

US DATA
US DATA: June CPI Preview - 08:30 EDT/13:30 BST
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- June CPI is expected to hold steady based on both the Bloomberg consensus and
MNI survey of analysts. This follows a 0.1% gain in May.
- Core CPI is expected to rise 0.2%, also based on both surveys, after a 0.1%
gain in May.
- Gasoline prices are expected to decline further, as suggested by the AAA data.
Core is expected to be driven higher by higher used vehicle prices and housing
prices, with some possible impacts from tariff pass-throughs.
- The forecasted values would allow the Y/Y rate for overall CPI to dip slightly
to 1.7%, but the rate for core CPI to remain at 2.0%. 
- An MNI preview showed that analysts tend to be very accurate when predicting
June CPI, particularly the core measure, so the mostly likely outcome is a
correct estimate.

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