Tomorrow should be an interesting time.
It could be the start of a renewed rise in the inflation rate.
After 12 consecutive months of a slowdown in the growth of inflation, the American people could see a jump.
According to the Federal Reserve Bank of Cleveland’s Inflation Nowcasting model, the annual consumer price index (CPI) is forecast to climb to 3.4 percent in July, with the month-over-month rate projected to climb 0.4 percent.
Core inflation, which strips the volatile food and energy sectors, is expected to rise to 4.9 percent year-over-year and jump 0.4 percent month-over-month.
August should also be a fascinating month as the annual CPI is being penciled in to climb to 4.1 percent.
Here is a breakdown from the regional central bank:
Will this force the Federal Reserve to pull the trigger on a September rate hike?
Will investors panic again?
Can gold and silver finally rally in this inflationary environment?
Let the games begin.
Gold and silver price have gone nowhere in the past 36 months, they have not beat inflation at all. This is controlled inflation mostly in food, energy,Transportation, & housing. How does the FED justify this Ponzi scheme of money printing and not know it is the root cause of inflation.