Forecasting what the PPI and CPI date for the United States will look like in July

The available data does not provide specific information on the July 2024 PPI and CPI figures for the United States. However, based on the latest available data, we can make some inferences about the general trends and factors that may influence these indices.

1. **CPI**: As of March 31, 2024, the U.S. CPI was at 3.2%. The CPI has shown a general downward trend over the past year, starting at 5% in July 2023 and gradually decreasing to 3.2% by March 2024. This suggests that the CPI may continue to decline or stabilize in the near term, assuming no significant external shocks.

|U.S.: CPI: Month-on-year|Date|code|market_code|
|---|---|---|---|
|5.3|20210831|||
|5.4|20210930|||
|6.2|20211031|||
|6.8|20211130|||
|7|20211231|||
|7.5|20220131|||
|7.9|20220228|||
|8.5|20220331|||
|8.3|20220430|||
|8.6|20220531|||

2. **PPI**: Similarly, the latest available PPI data is from March 31, 2024, which recorded a value of 3.1%. The PPI has also been on a downward trend, starting at 5.3% in July 2023 and decreasing to 3.1% by March 2024. Like the CPI, the PPI is likely to continue its downward trajectory or stabilize, assuming no unforeseen market events.

3. **Inflation Drivers**: The Federal Reserve's preferred inflation measure, the Personal Consumption Expenditure (PCE) price index, has shown a similar pattern to the CPI, indicating a general downward trend in inflation pressures. The decline in inflation is likely due to a combination of factors such as supply chain normalization, easing commodity prices, and moderating demand.
4. **July 2024 Forecast**: Based on the historical trends and the current trajectory of inflation indicators, it is reasonable to expect that the CPI and PPI for July 2024 will be lower than their respective March 2024 figures. However, it is important to note that these forecasts are subject to uncertainties and may be influenced by unforeseen events such as changes in global economic conditions or geopolitical factors.

In conclusion, while the exact numbers for July 2024 CPI and PPI are not currently available, historical trends and current conditions suggest that they are likely to be lower than the recent past, indicating a general easing in inflationary pressures.