Investors have a packed slate of economic data to look forward to this week, with new reports on consumer and producer price inflation set for release. More corporate earnings results will also trickle in.

One of the closely watched economic data points this week will be the U.S. Bureau of Labor Statistics’ consumer price index. This print will reflect the extent of consumer price increases over the past month, with outsized demand during the recovery still exerting upward pressure on prices.

The consumer price index, excluding volatile food and energy prices, is expected to have risen by 4.3% in July over last year, pulling back just slightly from June’s 4.5%, or the fastest pace in three decades. Core consumer prices are also expected to have advanced for the fourteenth consecutive month, or by 0.5% after June’s 0.9% monthly gain.

A central debate for investors, however, will be about how long-lasting these price increases ultimately prove to be. Many of the categories of goods that saw the biggest price increases were in areas considered “transitory,” or those closely tied to the rebound in economic activity and reopening of the economy.

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