CPI Report Live: April Inflation Report & Consumer Price Index News Updates

Whether you’re trading low-priced penny stocks or large-cap equities, conducting thorough research is crucial for understanding stock market movements. This week, the spotlight is on inflation figures, as the Consumer Price Index (CPI) data for April gets reported.

In this article, we discuss the main highlights from the April CPI report and offer an overview of the CPI data, its importance, and its connection to stock market economic information in 2023.

What Is CPI Inflation Data?

CPI stands for “Consumer Price Index.”

The U.S. Bureau of Labor Statistics explains it as“The CPIs are based on prices of food, clothing, shelter, fuels, transportation, doctors’ and dentists’ services, drugs, and other goods and services that people buy for day-to-day living. Prices are collected each month in 75 urban areas across the country from about 6,000 housing units and approximately 22,000 retail establishments (department stores, supermarkets, hospitals, filling stations, and other types of stores and service establishments).”

CPI is measures “the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Indexes are available for the U.S. and various geographic areas.”

What Time Is CPI Released Today?

CPI Data and the April Consumer Price Index report is released at 8:30 am ET today, May 10th.

Consumer Price Index Report For March 2023 & CPI Numbers

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1% in March on a seasonally adjusted basis. Over the last 12 months, the all-items index increased 5.0 percent before seasonal adjustment.

The index for all items less food and energy rose 0.4% in March, after rising 0.5% in February. Indexes that increased in March include shelter, motor vehicle insurance, airline fares, household furnishings and operations, and new vehicles. The index for medical care and the index for used cars and trucks were among those that decreased over the month.

Core figures were in-line with expectations, while headline figures were below what analysts had expected.

CPI Report Today: April Inflation Expectations

Following the May FOMC meeting and Fed Chair Jerome Powell’s press conference, a pause in interest rate hikes is still unconfirmed. While many had hoped the latest monetary policy did its job, the Fed remains focused on “data-dependent” next steps. Whether this means one more hike for 2023, a pause, or simply business as usual is up for speculation. However, the CPI report today will likely play a part in that set of data to consider.

CPI expectations for today:

• CPI MoM: 0.4%
• CPI YoY: 5.0%
• Core CPI MoM: 0.4%
• Core CPI YoY: 5.5%

Consumer Price Index Report For April 2023 & CPI Numbers

This is a developing story and will be updated as more data gets reported.

The post CPI Report Live: April Inflation Report & Consumer Price Index News Updates appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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