(Photo by Eric BARADAT / AFP) ... [+] (Photo by ERIC BARADAT/AFP via Getty Images) AFP via Getty ImagesThe first of the August inflation data we were watching for is in. That provides some ammunition for those who believe in transitory inflation as both the Fed and the President appear to. Early DaysSo maybe this is an early, small victory for those in the transitory inflation camp. For inflation to fall, first it needs to stop growing so rapidly and July’s data perhaps offered that. Furthermore, even if the inflation of 2021 proves transitory, where inflation ends up over the next few years remains a key question for markets.

Source: Forbes August 12, 2021 18:22 UTC