UBS raises expectations for US core CPI in July, warning that inflation pressures will persist.

UBS expects the seasonally adjusted core CPI in the United States for July to show a monthly rate of 0.35%, higher than the expected 0.32%. The non-seasonally adjusted core CPI is expected to show an annual rate of 3.11%, higher than the expected 3%. UBS believes that inflation pressures will continue to rise, with the core CPI expected to be 0.6% in August, 0.76% in September, and 0.73% in October. Additionally, core service inflation is expected to rise by 0.35% month-on-month in July.