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Inflation represents the rate at which the general level of prices for goods and services rises, leading to a decrease in purchasing power of money. In forex trading, countries with higher inflation typically see a depreciation in their currency value compared to their trading partners. Consequently, forex traders closely monitor inflation rates to make informed decisions, as they can significantly influence exchange rate movements and trading strategies.
What is CPI?
The Consumer Price Index (CPI) represents an inflation indicator that estimates the average change over time in the prices consumers pay for a basket of goods and services. When the CPI rises, it signifies that, on average, consumers are paying more for the goods and services included in the basket, which can be interpreted as an increase in the general price level and, thus, inflation. Conversely, a decline in the CPI indicates deflation.
When is CPI Data Released?
The next CPI release date is October 12, 2023, at 8:30 EST. Previous CPI data was 3.7% releazed on September 13. 2023. The Consumer Price Index (CPI) for the U.S. is released monthly by the Bureau of Labor Statistics (BLS), often around the middle of the month.
CPI Release Dates
Below is presented CPI data releazed Table:
| CPI Release Date | EST Time | Actual | Forecast | Previous |
|---|---|---|---|---|
| Oct 12, 2023 (Sep) | 8:30 | 3.70% | ||
| Sep 13, 2023 (Aug) | 8:30 | 3.70% | 3.60% | 3.20% |
| Aug 10, 2023 (Jul) | 8:30 | 3.20% | 3.30% | 3.00% |
| Jul 12, 2023 (Jun) | 8:30 | 3.00% | 3.10% | 4.00% |
| Jun 13, 2023 (May) | 8:30 | 4.00% | 4.10% | 4.90% |
| May 10, 2023 (Apr) | 8:30 | 4.90% | 5.00% | 5.00% |
| Apr 12, 2023 (Mar) | 8:30 | 5.00% | 5.20% | 6.00% |
| Mar 14, 2023 (Feb) | 8:30 | 6.00% | 6.00% | 6.40% |
| Feb 14, 2023 (Jan) | 9:30 | 6.40% | 6.20% | 6.50% |
| Jan 12, 2023 (Dec) | 9:30 | 6.50% | 6.50% | 7.10% |
Latest CPI Inflation Report on September 13. 2023
- Monthly Change:
- The Consumer Price Index for All Urban Consumers (CPI-U) experienced a rise of 0.6% in August. This is a seasonally adjusted figure.
- In comparison, the CPI-U had risen by a smaller margin of 0.2% in July.
- Annual Change:
- Over the 12 months leading up to August, the all-items index (which includes all categories of goods and services in the CPI basket) increased by 3.7%, not accounting for seasonal adjustment.
- To put it in perspective, the inflation rate over the past year was 3.7%.
- Major Contributors:
- Gasoline prices were the primary driver for the monthly increase in August, responsible for over half of the rise in the all-items index.
- The shelter index, which tracks the cost of housing, has been on a consistent upward trajectory, marking an increase for the 40th consecutive month.
- Energy prices surged in August, with the energy index showing a significant 5.6% jump. All major components under this category witnessed an upward trend.
- In terms of food prices, both the overall food index and the index for food consumed at home increased by 0.2%. Meanwhile, the cost of eating out (food away from home) rose slightly higher at 0.3%.
- Core Inflation:
- “all items less food and energy” is often called the “core CPI.” This metric excludes the volatile food and energy categories to provide a more stable measure of inflation.
- The core CPI rose by 0.3% in August, compared to a 0.2% increase in July.
- Some specific indices that saw a rise during August included rent, owners’ equivalent rent, motor vehicle insurance, medical care, and personal care. Conversely, indices such as lodging away from home, used cars and trucks, and recreation decreased.
- Yearly Comparison:
- The all-items index’s 3.7% rise over the past year (up to August) is higher than the 3.2% annual increase observed for the year ending in July.
- The core CPI (all items less food and energy) witnessed a 4.3% increase over the past 12 months.
- Interestingly, despite the sharp rise in the energy index in August, it decreased 3.6% over the year. On the other hand, the food index mirrored the core CPI’s yearly increase of 4.3%.
This report indicates a significant month-on-month and year-on-year increase in consumer prices in August 2023. Major contributors to this inflationary trend included gasoline, shelter, and energy prices.
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