There’s speculation that this week could hold more significance than initially anticipated.

The Consumer Price Index (CPI) is forecasted to show a 0.1% monthly decrease, potentially lowering year-over-year inflation from 3.3% to 3.1%.

Key events include:

Tuesday: Small Business Optimism Index

Wednesday: Mortgage Applications, 10-Year Bond Auction, and Powell’s testimony before the House

Thursday: Consumer Price Index (CPI) and Jobless Claims

Friday: Producer Price Index (PPI), which indicates producers’ costs of goods sold and serves as a leading indicator for potential future inflation declines.