Inflation and Retail Sales Updates Set to Shape Wall Street's Week Ahead

Wall Street is bracing for key inflation and retail sales updates this week, which will provide crucial insights into the state of the US economy.

The Consumer Price Index (CPI) report for July is set to be released on Wednesday, with economists expecting it to show that inflation remains above 3%.

This is a critical metric for the Federal Reserve, which has been closely watching inflation's direction and is expected to raise interest rates in order to tame rising costs before the end of the year.

The Producer Price Index (PPI) report for July on Thursday will give a more detailed view of some of the inflation pressures facing companies.