Consumer Price Index (CPI) Releases: Everything You Need to Know
What is the Consumer Price Index (CPI)?
The Consumer Price Index (CPI) measures the average change in prices for goods and services purchased by urban consumers. It is a key indicator of inflation in the United States.
When are CPI Releases Scheduled?
The Bureau of Labor Statistics (BLS) releases the CPI on a monthly basis, typically around the middle of the month. The exact release date varies depending on the day of the week.
- 2023 Release Schedule: https://www.bls.gov/cpi/cpisched.htm
How to Access CPI Data
The BLS publishes CPI data on its website and through various data dissemination services. You can also access real-time CPI data through financial news outlets and data providers.
Key Takeaways from Recent CPI Reports
- In July 2023, the CPI rose by 0.2%, bringing the annual inflation rate to 2.9%. This was below the market expectation of 3.1%.
- The core CPI, which excludes volatile food and energy prices, increased by 0.1% in July. This brought the core inflation rate to 2.6% year-over-year.
- The July CPI report suggests that inflation is moderating, but remains elevated compared to pre-pandemic levels.
Importance of CPI Releases
CPI releases are closely watched by economists, investors, and policymakers. They provide insights into inflation trends and the overall health of the economy. CPI data is used to make decisions about interest rates, fiscal policy, and business strategies.
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