Consumer Price Index (YoY)

The US Federal Reserve has a dual mandate of maintaining price stability and maximum employment. According to such mandate, inflation should be at around 2% YoY and has become the weakest pillar of the central bank’s directive ever since the world suffered a pandemic, which extends to these days. Price pressures keep rising amid supply-chain issues and bottlenecks, with the Consumer Price Index (CPI) hanging at multi-decade highs. The Fed has already taken measures to tame inflation and is expected to maintain an aggressive stance in the foreseeable future.

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Most recent - Wednesday 13 September 2023 12:30

3.2%

Forecast

3.6%

Actual

3.7%

Higher numbers than forecast tend to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Next event - Thursday 12 October 2023 12:30

3.7%

Forecast

Actual

The typical/expected impact on USD pairs is high.

There is no forecast value for Consumer Price Index (YoY) yet - check back for updates.

Trading range

Forecast history

The most recent announced value for Consumer Price Index (YoY) was 3.7% against a forecast of 3.6%.

Past events

Date

Forecast

Actual

Wednesday 13 September 2023 12:30

3.6%

3.7%

Thursday 10 August 2023 12:30

3.3%

3.2%

Wednesday 12 July 2023 12:30

3.1%

Tuesday 13 June 2023 12:30

4.1%

Wednesday 10 May 2023 12:30

4.9%

Wednesday 12 April 2023 12:30

5.2%

Tuesday 14 March 2023 12:30

Tuesday 14 February 2023 13:30

6.2%

6.4%

Thursday 12 January 2023 13:30

6.5%

Tuesday 13 December 2022 13:30

7.3%

7.1%

Thursday 10 November 2022 13:30

7.7%

Thursday 13 October 2022 12:30

8.1%

8.2%

Tuesday 13 September 2022 12:30

8.1%

8.3%

Wednesday 10 August 2022 12:30

8.7%

8.5%

Wednesday 13 July 2022 12:30

8.8%

9.1%

Friday 10 June 2022 12:30

8.3%

8.6%

Wednesday 11 May 2022 12:30

8.1%

8.3%

Tuesday 12 April 2022 12:30

8.4%

8.5%

Thursday 10 March 2022 13:30

7.9%

Thursday 10 February 2022 13:30

7.3%

7.5%

Wednesday 12 January 2022 13:30

Friday 10 December 2021 13:30

6.8%

Wednesday 10 November 2021 13:30

5.8%

6.2%

Wednesday 13 October 2021 12:30

5.3%

5.4%

Tuesday 14 September 2021 12:30

5.3%

Wednesday 11 August 2021 12:30

5.3%

5.4%

Tuesday 13 July 2021 12:30

4.9%

5.4%

Thursday 10 June 2021 12:30

4.7%

Wednesday 12 May 2021 12:30

4.2%

Tuesday 13 April 2021 12:30

2.5%

2.6%

Wednesday 10 March 2021 13:30

1.7%

Wednesday 10 February 2021 13:30

1.5%

1.4%

Wednesday 13 January 2021 13:30

1.3%

1.4%

Thursday 10 December 2020 13:30

1.1%

1.2%

Thursday 12 November 2020 13:30

1.3%

1.2%

Tuesday 13 October 2020 12:30

1.4%

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next Consumer Price Index (YoY) result:

		Previous	Latest
Core Personal Consumption Expenditures - Price Index (MoM)	Bearish change	0.2%	0.1%
Core Personal Consumption Expenditures - Price Index (YoY)	Bearish change	4.3%	3.9%
Personal Consumption Expenditures - Price Index (MoM)	Bullish change	0.2%	0.4%
Personal Consumption Expenditures - Price Index (YoY)	Bullish change	3.4%	3.5%
Personal Income (MoM)	Bullish change	0.2%	0.4%
Personal Spending	Bearish change	0.9%	0.4%
Pending Home Sales (MoM)	Bearish change	0.9%	-7.1%
Core Personal Consumption Expenditures (QoQ)	(no change)	3.7%	3.7%
Gross Domestic Product Annualized	(no change)	2.1%	2.1%
Gross Domestic Product Price Index	Bearish change	2%	1.7%
Initial Jobless Claims	Bearish change	202K	204K
Personal Consumption Expenditures Prices (QoQ)	(no change)	2.5%	2.5%
Durable Goods Orders	Bullish change	-5.6%	0.2%
Durable Goods Orders ex Defense	Bullish change	-6%	-0.7%
Durable Goods Orders ex Transportation	Bullish change	0.1%	0.4%
Nondefense Capital Goods Orders ex Aircraft	Bullish change	-0.4%	0.9%
New Home Sales Change (MoM)	Bearish change	8%	-8.7%
Housing Price Index (MoM)	Bullish change	0.4%	0.8%
S&P Global Composite PMI	Bearish change	50.2	50.1
S&P Global Manufacturing PMI	Bullish change	47.9	48.9
S&P Global Services PMI	Bearish change	50.5	50.2
Existing Home Sales Change (MoM)	Bullish change	-2.2%	-0.7%
Initial Jobless Claims	Bullish change	221K	201K
Philadelphia Fed Manufacturing Survey	Bearish change	12	-13.5
Fed Interest Rate Decision	(no change)	5.5%	5.5%
Interest Rate Projections - 1st year	Bullish change	4.6%	5.1%
Interest Rate Projections - 2nd year	Bullish change	3.4%	3.9%
Interest Rate Projections - 3rd year	Bearish change	3.1%	2.9%
Interest Rate Projections - Current	(no change)	5.6%	5.6%
Interest Rate Projections - Longer	(no change)	2.5%	2.5%
Building Permits (MoM)	Bullish change	1.443M	1.543M
Housing Starts (MoM)	Bearish change	1.447M	1.283M
Michigan Consumer Sentiment Index	Bearish change	69.5	67.7
UoM 5-year Consumer Inflation Expectation	Bearish change	3%	2.7%

About Consumer Price Index (YoY)

Country:	United States
Currency:	USD
Source:	US Bureau of Labor Statistics
Category:	Inflation
Frequency:	Monthly

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Calendar - Consumer Price Index (YoY) - United States

Consumer Price Index (YoY)

Most recent - Wednesday 13 September 2023 12:30

Next event - Thursday 12 October 2023 12:30

Trading range

Trading range after each Consumer Price Index (YoY) event

Forecast history

Past events

Economic context

About Consumer Price Index (YoY)

Related events