What to expect from the US CPI report later today?

The US inflation data later will cover the month of July and the estimates are as per the following: Headline CPI +0.1% m/m est. (Prior -0.4%) Headline CPI +3.4% y/y est. (Prior +3.5%) Core CPI +0.2% m/m est. (Prior 0.0%) Core CPI +2.5% y/y est. (Prior +2.6%) As always, the core…