US CPI Data for March: Release date, time, all you need to know
US Consumer Price Index (CPI) will be released on Wednesday, April 12. Here's what you should know before the data releases
The US will release its March Consumer Price Index (CPI) data on Wednesday, April 12, 2023, according to the Bureau of Labour Statistics. The data for March will be released at 8:30 AM Eastern Time (6 pm in India).
The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Average price data for select utility, automotive fuel, and food items are also available.
US CPI data history
The CPI for All Urban Consumers (CPI-U) rose 0.4 per cent in February on a seasonally adjusted basis, after increasing 0.5 per cent in January. Over the last 12 months, the all-items index increased by 6 per cent before seasonal adjustment.
All items less food and energy index rose 5.5 per cent over the last 12 months till February 2023, its smallest 12-month increase since December 2021. The energy index increased 5.2 per cent for the 12 months ending February, and the food index increased 9.5 per cent over the last year.
Inflation has fallen from a multi-decade high of 9.1 per cent to roughly 6 per cent, but it remains far higher than the central bank's target of 2 per cent.
Will Fed hike the interest rate further?
A US employment report released on Friday pointed to a tight labour market and raised bets of an interest rate hike by the US central bank next month. Markets are pricing in a 71 per cent chance of a 25 basis-point hike, according to Reuters.
What role does CPI data play?
The Consumer Price Index (CPI) is commonly used by financial market participants to monitor inflation and by the Federal Reserve to calibrate monetary policy. The CPI is also used by businesses and consumers to make educated economic decisions.
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