CPI statistics for May 2022 will be announced on June 10, 2022, at 8:30 a.m., which is tomorrow.
Traders predict that inflation will be the highest in the next five years.
Investors are anxious about the US inflation statistics; thus, gold continues to fall.
According to the White House, the next wave of economic data will reveal high inflation numbers.
"The headline inflation rate is expected to be higher. We also expect the Ukraine conflict to have an impact on core inflation " Reuters quoted the official.
In an appearance on a late-night talk program before the announcement of inflation figures, Biden referred to inflation as the "bane."
As oil prices climb and inflation fears mount, Asian markets fall, and market watchdogs await US data.
On Thursday, stocks are slightly lower as investors keep a close eye on the economy ahead of critical inflation data.
Casino stocks were some of the worst performers in the S&P 500, with Las Vegas Sands falling 3.4%.
Before the November midterm elections, Biden's team sees few alternatives to inflation; the Democrats may have to pay the cost.
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