The consumer-price index is due out on Tuesday morning, offering the latest insight into how President Trump’s tariff policies are feeding into price pressures. Trump said on Monday that he plans to nominate E.J. Antoni, the chief economist at the Heritage Foundation, to lead the Bureau of Labor Statistics. And the Reserve Bank of Australia delivered its third interest rate cut since the start of the year, responding to evidence that inflation has cooled and new forecasts showing that it is likely to remain contained.

Prices likely rose 2.8% in the 12 months through July, according to economists polled by The Wall Street Journal. That would be a slight increase from 2.7% as of June. 

Core CPI is seen accelerating to 3.1%, up from a 2.9% rate as of June. The measure excludes volatile food and energy costs.

The report is due at 8:30 a.m. ET Tuesday from the Bureau of Labor Statistics.

This is the first major data release from the BLS since a weak jobs report at the start of the month, after which President Trump fired the agency's head, Erika McEntarfer. The Trump administration has been interviewing potential replacements.

• Trump to Nominate Bureau of Labor Statistics Critic to Lead Agency

8:30 a.m.: CPI
10 a.m.: Federal Reserve Bank of Richmond President Thomas Barkin speaks before the Health Management Academy

7:45 a.m.: Federal Reserve Bank of Richmond President Thomas Barkin speaks before the Greenville Chamber of Commerce
12:45 p.m.: FRB Atlanta President Raphael Bostic speaks at a luncheon in Red Bay, AL
1 p.m.: FRB Chicago President Austan Goolsbee speaks at Greater Springfield Chamber of Commerce event

Investors continue to expect stagflation in the global economy, or above-trend inflation combined with below-trend growth, according to Bank of America's global fund manager survey. The August survey shows 70% of investors expect global stagflation in the next 12 months, unchanged from July's percentage. Stagnation, or weak growth and low inflation, is expected by 12% of respondents compared to 10% in July. Some 7% expect a boom with above-trend growth and above-trend inflation, down from 10% in July. A goldilocks scenario of strong growth and low inflation remains anticipated by 7% of investors. — Renae Dyer

• President Trump urged China to step up soybean purchases from the U.S., saying that would help cut China's trade surplus with America.
• A $16 billion merger of two state-controlled shipbuilders in China is set for completion this week, creating the world’s biggest shipbuilder while the U.S. searches for a path back into the business.
• German confidence in the economy sank back this month, buffeted by disillusion over the European Union’s trade deal with the U.S. and Germany’s weaker-than-expected economic performance in the second quarter.
• The U.K.’s jobs market continued to cool in the second quarter as businesses grappled with an increase in employment taxes, uncertainty about the outlook for trade, and cautious consumers.
• Norway’s sovereign-wealth fund returned 5.7% in the first half, driven by strong equity markets.
• With the Trump administration gutting American humanitarian aid to Africa, refugees from war-torn countries have been reduced to literally fighting each other over the scraps of food that remain.

WSJ Pro Central Banking brings you central banking news, analysis and insights from WSJ’s global team of reporters and editors. This newsletter was compiled by markets reporter Vicky Ge Huang in New York. Send your tips, suggestions and feedback to vicky.huang@wsj.com.