It's a Huge Week for Inflation Data. Here's What to Watch.
Several inflation gauges are due this week that could impact stock prices.
It's a Huge Week for Inflation Data. Here's What to Watch.
Overview
Several important readings of inflation are due this week, and they have significant potential to move financial markets. Consider, for instance, the May jobs report released last Friday morning (June 5), which was much stronger than expected. It spooked investors with new concerns that the Federal Reserve may have to hike rates sooner than previously believed. That makes these upcoming reports essential to watch.
First up is the Consumer Price Index (CPI), which will be released by the Bureau of Labor Statistics on Wednesday, June 10, at 8:30 a.m. ET. The headline CPI rose 3.8% year over year in April, which is far above the Fed's 2% target. The Cleveland Fed predicts that CPI for May will be even higher, at 4.18%. Core CPI, which excludes volatile food and energy costs, has been tamer, at 2.8% year over year in April, though still above the Fed's target.
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Originally published at www.fool.com.
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