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Inflation Probably Slowed in July CPI Report, But Not Enough to Trigger Crypto Bull Run

Derek Holt, vice president and head of capital markets economics at Scotia, expects the core CPI to tick higher to 6.1%, from 5.9%. “If that view proves to be correct,” Hold wrote in a note sent to clients on Friday, then it would mean the annualized month-over-month core CPI would be close to 7.5%, in line with the recent three-month moving average. Such a report would “indicate that inflationary pressures remain hot.”