The Labor Department issues its July snapshot of consumer prices Wednesday
A look at some of the key business events and economic indicators upcoming this week:
HIGHER PRICES SEEN
Economists project that consumer prices rose last month from a year earlier.
The Labor Department’s consumer price index, due out Wednesday, is projected to show a gain of 0.7% for July. That would follow an annual gain of 0.6% in June. Rising gasoline prices have nudged consumer prices higher, though weaker demand due to the economic fallout from the coronavirus shutdowns have tamed price increases relative to early this year.
Consumer price index, annual percent change, not seasonally adjusted:
July (est.) 0.7
IN THE RED
Wall Street expects Tapestry closed out its last fiscal year with another quarterly loss.
Analysts predict the owner of luxury apparel brands such as Kate Spade, Stuart Weitzman and Coach will report that it slid to a loss in the April-June quarter from a year earlier. That would match the company’s results in the first three months of the year. Tapestry delivers its fiscal fourth-quarter results Thursday.
SIZING UP RETAIL SALES
The Commerce Department serves up its July tally of U.S. retail sales Friday.
Retail sales climbed a solid 7.5% in June, the second-straight monthly increase. A surge in sales in May offset a brutal plunge in March and April. Shoppers have responded to the pandemic by shifting their spending to online retailers and grocers, though sporting goods, musical instrument and other stores have also enjoyed solid growth.
Retail sales, monthly percent change, seasonally adjusted:
July (est.) 2.0