The Bureau of Labor Statistics will release the consumer price index, a major indicator of inflation in the United States, at 8:30 a.m. ET on Thursday.
When does the inflation statistics come out?
The data is particularly crucial to investors because it is the Fed’s final big economic report before its two-day meeting, which begins on Tuesday. Regardless of the data, the central bank is largely expected to raise interest rates by a quarter point from zero, the first of what is expected to be a succession of rate hikes.
The producer price index will be announced on Tuesday, but the consumer price index is more important to the Fed.
How frequently is inflation data released?
The CPI is calculated by the United States Bureau of Labor Statistics (BLS) on a monthly basis and has been calculated since 1913. It was calculated using the index average from 1982 to 1984 (inclusive), which was set to 100.
When is the CPI statistics released?
The new factors are used to amend the prior 5 years of seasonally adjusted data. These factors are updated every February. www.bls.gov/cpi/tables/seasonal-adjustment/seasonal-factors-2022.xlsx has the factors.
Is food included in inflation?
Core inflation refers to the change in the cost of goods and services excluding the food and energy sectors. Food and energy prices are not included in this computation since they are too volatile and fluctuate too much.
Is inflation beneficial?
- Inflation, according to economists, occurs when the supply of money exceeds the demand for it.
- When inflation helps to raise consumer demand and consumption, which drives economic growth, it is considered as a positive.
- Some people believe inflation is necessary to prevent deflation, while others say it is a drag on the economy.
- Some inflation, according to John Maynard Keynes, helps to avoid the Paradox of Thrift, or postponed consumption.
What was the rate of inflation from 2008 to 2019?
Between 2008 and present, the dollar saw an average annual inflation rate of 1.99 percent, resulting in a cumulative price increase of 31.78 percent.
Why is inflation so detrimental to the economy?
- Inflation, or the gradual increase in the price of goods and services over time, has a variety of positive and negative consequences.
- Inflation reduces purchasing power, or the amount of something that can be bought with money.
- Because inflation reduces the purchasing power of currency, customers are encouraged to spend and store up on products that depreciate more slowly.