The markets will now be most certainly expecting an interest rate cut next month after today’s brand new inflation read. The Consumer Price Index is in line with expectations.
The CPI for July came in at 0.2 percent, which is exactly what the markets were expecting. On the year, it landed at 2.7 percent, which is one-tenth below what analysts were preparing for.
Numbers show shelter costs were the largest contributor to inflation last month.
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Expect modest relief on several produce lines, mixed protein trends into holiday buying, and softer veg-oil costs — a good week to sharpen forward buys selectively.
USDA will meet part of November SNAP benefits under court direction, citing insufficient funds for full payments.
An import lag for ground beef will likely look different than last year’s egg shortage. The difference comes down to biosecurity and market flexibility.
America’s love for burgers depends on open markets. Without lean beef imports, prices would skyrocket, crushing demand and destabilizing the beef industry.
