Here comes CPI...

Justin Sullivan/Getty ImagesThe latest read on US consumer prices will be out at 8:30 a.m. ET.

Economists forecast that the US consumer price index rose by 0.1% in June from the prior month, and by 1.7% in year-over-year terms.

Excluding the volatile food and energy costs, the so-called core CPI is expected to have climbed by 0.2% month-over-month and by 1.7% year-over-year.

Last month, consumer prices fell more than expected. Cheaper gas prices dragged the index down. Shelter, clothes, vehicles, and medical-care services also fell.

Against the backdrop of its, market watchers will be trying to assess whether the Federal Reserve will continue its rate-hike agenda amid the stronger overall economy.

Refresh this page for updates at 8:30 a.m. ET.

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