Consumer Price Index (CPI) 6/10/2022

This article includes an explanation of the core consumer price index in the United States and its importance, with a look at previous data and expectations for today's data with its impact on the market and inflation, and what the Fed is waiting for from these data to fight inflation

This indicator is derived from the Consumer Price Index, and measures the change in the prices of goods and services excluding foodstuffs and energy.
The Consumer Price Index measures the change in prices from the consumer's point of view
It is a primary means of measuring changes in purchasing trends and inflation rates in the United States

The annual US inflation rate slowed to 8.3% in April from a 41-year high of 8.5% in March, but below market expectations of 8.1%. Energy prices are up 30.3%, down from 32% in March and are gasoline (43.6% vs. 48%) while fuel oil prices are up more (80.5% vs. 70.1%). On the other hand, food prices jumped 9.4%, the most since April 1981 and prices for shelter rose even faster (5.1% vs. 5%) and new vehicles (13.2% vs. 12.5%). On a monthly basis, consumer prices rose 0.3%, slightly above expectations of 0.2% but below a 16-year high of 1.2% in March. The gasoline index fell 6.1%, offsetting the increases in the indices of natural gas (3.1%) and electricity (0.7%). Despite a slowdown in April indicating that inflation has likely peaked, inflation is unlikely to dip to pre-pandemic levels anytime soon and will remain above the Fed's 2% target for an extended period as supply disruptions and energy prices persist and food. high

Estimate for today's data 0.5%

In the event that the release of data was higher than expectations, it will affect positively on the currency, as well as the results show about the inflation situation in the United States, as a result of this data affected the Fed’s decision regarding raising interest rates in the event that it was negative, so it accelerates and supports raising interest, which will negatively affect the American indicators

The index will be released at 3:30 pm Beirut time

Tags : USD