Consumer Price Index 10/8/2022

The consumer price index determines the inflation rate from the point of view of consumers when they buy goods and services, and this indicator is considered one of the most watched indicators by traders and is considered a basic indicator for determining financial inflation and buying trends in society in the United States
The main objective that the Central Bank seeks is to achieve price stability, and one of the ways to fight inflation is the Central Bank seeks 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 accelerated to 9.1% in June 2022, the highest rate since November 1981, from 8.6% in May and above market expectations of 8.8%. Energy prices rose 41.6%, the highest since April 1980, boosted by gasoline (59.9%, the largest increase since March 1980), fuel oil (98.5%), electricity (13.7%, the largest increase since April 2006), and natural gas. . (38.4%, the largest increase since October 2005). Food costs rose 10.4%, the most since February 1981, as household food prices jumped 12.2%, the most since April 1979. Shelter prices have also risen dramatically (5.6%, the most since February 1991) , Home Furniture and Operations (9.5%). ), new vehicles (11.4%), used cars and trucks (1.7%), and airfares (34.1%). Core CPI excluding food and energy rose 5.9%, just below 6% in May, but above expectations of 5.7%.

Predictions for today's statement and its impact

Expectations indicate a decline in inflation data to a rate of 8.7%
If the statement is issued below expectations, it will affect the currency in a negative way, but if the statement is issued at a rate higher than expected, it will affect the currency in a positive way.

Time

The statement will be issued at 3:30 pm Mecca time