Here comes inflation ...

The latest report on consumer prices is set for release from the BLS at 8:30 am ET.

Expectations are for consumer prices to rise 0.3% in June compared to the prior month and rise 0.2% on a “core” basis, which excludes the price of food and gas.

Headline inflation is expected to rise just 0.1% in June compared to last year, mostly due to the sharp decline in oil prices, which are down about 50% from a year ago.

On a “core” basis, prices are expected to rise 1.8% compared to last year.

We’ll be back with the live numbers when they hit.

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