CPI Explained: Release Schedule & Market Impact
The Consumer Price Index is the headline inflation gauge for the US economy. Traders watch it because the Fed's reaction function is still anchored to price stability -- a surprise CPI beat or miss can reprice rate-cut odds within seconds.
Next release
China CPI & PPI (June 2026, YoY)
Thursday, 9 July 2026 · 01:30 UTCforecast: CPI: ~+1.1% YoY; PPI: ~+2.4% YoY
View on calendar →What it is
The Bureau of Labor Statistics publishes CPI monthly, measuring the average change in prices paid by urban consumers for a fixed basket of goods and services. The market focuses on headline CPI (all items) and core CPI (excluding food and energy), usually quoted year-over-year and month-over-month.
Why traders care
CPI is the cleanest public read on whether disinflation is still progressing. Hot prints reinforce higher-for-longer rates, lift the dollar and real yields, and pressure gold and rate-sensitive equities. Cool prints do the opposite -- especially when core services inflation is easing.
Release schedule
Typically the second week of each month for the prior month's data (e.g. June CPI in mid-July). Rescheduled when the reference week collides with US holidays.
Typical time: 12:30 UTC (08:30 ET during US daylight saving)
Assets most affected
Full trading playbook:
Read the CPI guide →