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Business week ahead, July 9-13

Prices at a station in Lake Ronkonkoma reflect

Prices at a station in Lake Ronkonkoma reflect the recent rise in the cost of gas. Credit: Barry Sloan

KEY EVENT: Inflation update. Paced by double-digit increases in gas prices, local consumer prices rose 2.2 percent in May compared with May 2017, the largest year-over-year gain in more than a year. Is inflation becoming a problem? Some answers come Thursday when the Labor Department releases U.S. consumer prices for June. The report includes a breakout of prices in 25 Northeast counties including Long Island.

MONDAY: Consumer credit in May from the Federal Reserve. The April report showed consumer borrowing had slowed for the third straight month.

TUESDAY: The Labor Department releases the number of U.S. job openings as of May 31. The previous report showed more job openings than people looking for work as of April 30. Earnings: PepsiCo, consumer electronics seller Voxx International.

WEDNESDAY: Long Island Advancement of Small Business ( holds a free workshop 6-7:30 p.m. at the Microsoft Store in Walt Whitman Shops on how women in leadership positions can transform small businesses. Earnings: Melville construction supplies distributor MSC Industrial.

THURSDAY: June producer prices and jobless benefits claims for the week ended July 7, both from the Labor Department.

FRIDAY: Import and export prices in June from the Labor Department. Earnings: Citigroup, JPMorgan Chase, Wells Fargo.


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