This Week: Consumer price index, retail sales, housing starts

A look at some of the key business events and economic indicators upcoming this week.

TRACKING INFLATION

The Labor Department releases Wednesday its monthly gauge of inflation at the consumer level.

Economists predict the consumer price index rose 3% in July from as year earlier, matching June's pace. The Federal Reserve is keeping a close eye on price changes as it weighs whether to start cutting rates for the first time in four years at its next monetary policy meeting.

Consumer price index, annual percent change, not seasonally adjusted:

Feb. 3.2

March 3.5

April 3.4

May 3.3

June 3.0

July (est.) 3.0

Source: FactSet

SIZING UP RETAIL SALES

The Commerce Department delivers its latest snapshot of U.S. retail sales Thursday.

Retail sales were flat in June, defying economic forecasts for a pullback and proving consumers' resilience in the face of an uncertain economy. Economists project that retail sales edged up 0.3% in July from the previous month.

Retail sales, monthly percent change, seasonally adjusted:

Feb. 0.7

March 0.5

April -0.2

May 0.3

June 0.0

July (est.) 0.3

Source: FactSet

HOUSING BAROMETER

New government data on residential construction should provide insight into the state of the new-home market.

The Commerce Department is expected to report on Friday that builders broke ground on new condos and single-family homes at a faster pace in July than in the previous month. That would mark the second straight monthly acceleration in housing starts.

Housing starts, monthly, seasonally adjusted annual rate:

Feb. 1,546,000

March 1,299,000

April 1,377,000

May 1,314,000

June 1,353,000

July (est.) 1,360,000

Source: FactSet