Stocks slip as caution reigns ahead of US inflation data

LONDON, Aug 9 —Shares edged lower and the dollar hung off recent highs today as investors eyed US inflation data due a day later that will likely yield clues to any further aggressive Federal Reserve rate hikes.

“The focus is on tomorrow’s US inflation numbers and whether or not they are likely to show any indication of a softening of inflationary pressures,” said Michael Hewson, chief market analyst at CMC Markets. Inflation expectations There were some encouraging signs for the Fed on the prices front, with a New York Fed survey today showing consumers’ inflation expectations fell sharply in July.

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