US June CPI YoY (unadjusted) prior 4.2%, market consensus 3.8%. Institutional forecasts cluster at 3.7–3.9% (modal ~3.8%). JP Morgan, Standard Chartered, TD Securities and JEFFERIES sit at ~3.7%; UBS and Wells Fargo at 3.7; Citigroup, BofA and Barclays at 3.8; Morgan Stanley, Nomura, HSBC and ING at 3.8; Goldman, BNP Paribas, ABN AMRO, Helaba and Capital Economics at ~3.9; Berenberg, DBS, Sumitomo and Scotiabank at 4.0. US June core CPI YoY prior 2.9%, market consensus 2.8%. Most houses forecast

US June CPI YoY (unadjusted) prior 4.2%, market consensus 3.8%. Institutional forecasts cluster at 3.7–3.9% (modal ~3.8%). JP Morgan, Standard Chartered, TD Securities and JEFFERIES sit at ~3.7%; UBS and Wells Fargo at 3.7; Citigroup, BofA and Barclays at 3.8; Morgan Stanley, Nomura, HSBC and ING at 3.8; Goldman, BNP Paribas, ABN AMRO, Helaba and Capital Economics at ~3.9; Berenberg, DBS, Sumitomo and Scotiabank at 4.0. US June core CPI YoY prior 2.9%, market consensus 2.8%. Most houses forecast 2.8–2.9%; Deutsche Bank is the low outlier at 2.7 and BNP Paribas the high outlier at 3.0. Representative 2.8 calls include ING, Citigroup, Goldman, HSBC, JP Morgan, Nomura, JEFFERIES, UBS, Wells Fargo and Morgan Stanley; 2.9 calls include BofA, Capital Economics, Sumitomo, Danske, Scotiabank, Standard Chartered, UniCredit and Helaba.