Goldman Sachs expects U.S. July core CPI to rise 0.19% month on month and 2.47% year on year, slightly below consensus, while headline CPI is seen up 0.05% on the month as earlier energy-price declines weigh on the reading. The Aug. 12 release is being watched as a key signal for Treasury yields, technology-stock rotation and the Federal Reserve outlook, with Reuters-polled economists expecting annual headline CPI at 3.4% and core CPI at 2.5%, Kalshi traders pricing CPI at 3.3%, and markets still split on the chance of another rate increase. Goldman said its CPI call is consistent with core PCE rising 0.26% in July, helped by portfolio-management and related components, and expects core CPI gains to run near 0.2% in coming months as housing inflation slows, tariff-related price pressures fade and airfare pressure from earlier jet-fuel gains eases, though persistent oil-market disruptions could tilt inflation risks upward.