Consumer Price Index (Annual) 13/7/2022

The consumer price index determines the rate of inflation ( the rate of change in prices) from the point of view of consumers when they buy goods and services

The consumer price index is one of the indicators most watched by currency traders and is considered a key indicator for determining financial inflation and buying trends in society in the United States. The main goal that the central bank seeks is to achieve price stability; Thus when the central bank wants to fight inflation, the bank's reaction is to raise the interest rate to help prices fall. High interest rates attract foreign investment, thus increasing the demand for the country's currency

The annual US inflation rate likely accelerated to 8.8% in June of 2022, a new high since December of 1981, driven again by rising gasoline and food costs. Gas prices jumped about 60% from the previous year. The monthly rate is expected to move to 1.1% from 1%. However, core inflation that strips out food and energy prices is likely to have eased for a third straight month to 5.7%, the lowest reading in six months, as demand for airline tickets, furnishings, electronics and others slowed. However, a slowdown in core inflation and the recent decline in global commodity prices including fuel should provide some early indications that inflation may have peaked. In May, the US consumer price index rose 8.6 percent year on year to 292.296 points, the highest level ever.

Estimate for today's data 8.8%
In the event that data is issued higher than expectations, it will positively affect the currency and vice versa

The indicator will be released at 3:30 pm Mecca time