Tonight's CPI, the predicted data for the 4 CPI ratios is slightly higher than last month. I looked at the non-farm data from July 3rd, and both the annual and monthly wage data are slightly lower than expected, and also lower than last month's data. On one hand, the predicted CPI is higher than last month, while on the other hand, considering the impact of wages on the price composition, the annual and monthly wage rates are declining, leading to the speculation that tonight's CPI might be better than expected.