UBS Raises US July Core CPI Forecast, Warns of Persistent Inflationary Pressure

According to a report by Jinse Finance, UBS anticipates that the US seasonally adjusted core CPI month-on-month rate for July will reach 0.35% (higher than the expected 0.32%), while the unadjusted core CPI year-on-year rate will be 3.11% (above the expected 3%). UBS believes that inflationary pressures will continue to rise, projecting core CPI at 0.6% in August, 0.76% in September, and 0.73% in October. Additionally, core services inflation for July is expected to increase by 0.35% month-on-month.