> ## Content Index > Fetch the complete content index at: https://macrosoup.com/llms.txt > Use this file to discover other available public pages before exploring further. # πŸ“° Daily Macro Roundup: 2026-08-12 - URL: https://macrosoup.com/daily-macro-roundup-2026-08-12/ - Published: 2026-08-12T14:20:03.000Z - Updated: 2026-08-12T14:20:03.000Z - Author: Macro Soup Newsroom - Tags: The day in view, The Roundup Good morning, macro enthusiasts. Here's your daily roundup covering the United States, Europe, and key emerging markets. We cut through the noise to deliver the essential facts, key surprises, and meaningful context from each region in one place. ## πŸ‡ΊπŸ‡Έ Core CPI cools to 2.5%, but goods prices just came back to life US core CPI eased to 2.5% year-on-year in July, but core goods prices posted their largest monthly gain since September 2025, an early hint of tariff pass-through that complicates the Fed's easing path. [πŸ‡ΊπŸ‡Έ Core CPI cools to 2.5%, but goods prices just came back to lifeUS core CPI eased to 2.5% year-on-year in July, but core goods prices posted their largest monthly gain since September 2025, an early hint of tariff pass-through that complicates the Fed's easing path.Macro Soup![](https://pbs.twimg.com/media/HPha3KCaEAAO5Tg.png)](https://macrosoup.com/core-cpi-cools-to-2-5-but-goods-prices-just-came-back-to-life/) ## πŸ‡ͺπŸ‡Ί German inflation jumps to 2.8% and boxes in the ECB's rate pause German consumer prices jumped 2.8% year on year in July, above forecasts, while Italy's harmonised inflation hit 2.9%. The ECB held rates steady anyway, even as Eurozone Q2 growth beat expectations at 0.4% quarter on quarter, complicating the case for cuts. [πŸ‡ͺπŸ‡Ί German inflation jumps to 2.8% and boxes in the ECB's rate pauseGerman consumer prices jumped 2.8% year on year in July, above forecasts, while Italy's harmonised inflation hit 2.9%. The ECB held rates steady anyway, even as Eurozone Q2 growth beat expectations at 0.4% quarter on quarter, complicating the case for cuts.Macro Soup![](https://pbs.twimg.com/media/HPgCd2BXgAAlGjU.jpg)](https://macrosoup.com/german-inflation-jumps-to-2-8-and-boxes-in-the-ecbs-rate-pause/) ## πŸ‡¬πŸ‡§ Three BoE policymakers voted to hike, not cut, in July Three Bank of England policymakers voted for a hike, not a cut, in a 6-3 split that held Bank Rate at 3.75% on 30 July. It's an unusually hawkish dissent that raises the stakes for September, with flawed labour-market data leaving the committee without its usual anchor. [πŸ‡¬πŸ‡§ Three BoE policymakers voted to hike, not cut, in JulyThree Bank of England policymakers voted for a hike, not a cut, in a 6-3 split that held Bank Rate at 3.75% on 30 July. It's an unusually hawkish dissent that raises the stakes for September, with flawed labour-market data leaving the committee without its usual anchor.Macro Soup![](https://pbs.twimg.com/media/HPaXUpuXsAE1s9w.jpg)](https://macrosoup.com/three-boe-policymakers-voted-to-hike-not-cut-in-july/) ## 🌏 EM central banks are pulling apart, not just from the Fed India's CPI cooled to 4.45% but stayed above target, Brazil's services growth accelerated as its central bank kept cutting rates, and South Korea's jobless rate held near full employment. Three separate inflation stories, not one EM narrative. [🌏 EM central banks are pulling apart, not just from the FedIndia's CPI cooled to 4.45% but stayed above target, Brazil's services growth accelerated as its central bank kept cutting rates, and South Korea's jobless rate held near full employment. Three separate inflation stories, not one EM narrative.Macro Soup![](https://pbs.twimg.com/media/HPhGUyTWEAAd7T6.jpg)](https://macrosoup.com/em-central-banks-are-pulling-apart-not-just-from-the-fed/) ## πŸ‡¨πŸ‡³ China's producer deflation streak outlasts the 2015-16 commodity bust China's factory-gate prices fell βˆ’3.5% year-on-year in July, marking 34 consecutive months of producer deflation, longer than the 2015-16 commodity bust, even as several outlets misreported the figure with the wrong sign. [πŸ‡¨πŸ‡³ China's producer deflation streak outlasts the 2015-16 commodity bustChina's factory-gate prices fell βˆ’3.5% year-on-year in July, marking 34 consecutive months of producer deflation, longer than the 2015-16 commodity bust, even as several outlets misreported the figure with the wrong sign.Macro Soup![](https://pbs.twimg.com/media/HPRSUaEbwAAyma3.jpg)](https://macrosoup.com/chinas-producer-deflation-streak-outlasts-the-2015-16-commodity-bust/) That's your daily macro roundup. For more detailed regional deep dives, check out our weekly editions. If you found this useful, feel free to forward it along. More signal, less noise, as ever. Cheers.