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By Cate Chapman, Editor at LinkedIn News via LinkedIn

Inflation returns to the spotlight this week, with a key gauge expected to show steady price growth in July. The U.S. Consumer Price Index is forecast to have risen by an annual 2.7%, the same as in June, according to the Federal Reserve Bank of Cleveland. The news comes as the central bank waits for evidence of the effect of extensive new U.S. tariffs on consumer prices — and as it weighs the levies’ impact on hiring, with the agency that reports CPI recently revising new payrolls sharply lower.

Upcoming releases include:

Tuesday, Aug. 12:

• The Bureau of Labor Statistics will release the monthly Consumer Price Index for July, which measures inflation through the price of goods and services.

Thursday, Aug. 14:

• The U.S. Department of Labor will release initial jobless claims for the previous week. The report, a proxy for layoffs, tracks the number of people filing for unemployment benefits.
• The Bureau of Labor Statistics will release the Producer Price Index for July. The gauge measures the change over time in prices charged by domestic producers for their output.

Friday, Aug. 15:

• The U.S. Commerce Department will release its retail sales report for July, which tracks demand for finished goods, such as food, clothing and furniture, in stores and online.
• The University of Michigan will release its preliminary Consumer Sentiment Index for August, which measures how Americans feel about current and future economic conditions.