Financial markets are awaiting the release of the US Consumer Price Index report for July, on Wednesday. In this regard, Goldman Sachs (NYSE:GS) expected in a research note issued yesterday, Monday, that US inflation will continue its low path in July.
In this context, Goldman Sachs expected that the US core inflation (which excludes food and energy prices) would rise on a monthly basis by 0.16%, as the bank’s expectations were lower compared to the widely held market estimates of 0.2%.
But on the other hand, Goldman Sachs' forecast was largely in line with the core personal spending data for July, which recorded around 0.17% at the time.
In a related context, Bank of America (NYSE: BAC) experts expected that the US core and general inflation would witness a modest increase during last July after the rate slowed down at a noticeable pace in the previous month of June.
