In this article, you will learn what is the schedule of CPI data release dates. The Consumer Price Index (CPI) releases showing the current inflation rate in the USA and the Federal Open Market Committee (FOMC) meetings which determine the rate hikes in the country, have resulted in significant price swings in the cryptocurrency market over the past several months.
What is the Schedule of CPI Data Release Dates?
Year-over-Year inflation numbers are quite staggering in certain countries, such as Lebanon (162%), Venezuela (over 150%), Turkey (nearly 90%), and Argentina (88%). The situation in well-developed and leading countries like the US might sound less harmful at first, but the world's most powerful economy saw a 40-year high in June with inflation of over 9%.
Although the latest data revealed the figures for November have decreased to 7.1%, the numbers are still multiple times higher than what economists believe it's healthy – around 2% YoY increases.
The US Bureau of Labor Statistics will provide the December inflation figures on January 12. The January numbers will go live on February 14. while the following dates are: March 14. April 12. May 10. June 13. July 12. August 10. September 13. October 12. November 14. and December 12 (respectively showing the inflation rate for the previous month). Release time is at 8:30 AM Eastern Time.
Looking at the release schedule, which offers upcoming dates through December 2023. notice that the CPI information released on a given day always covers data from the previous month.
What is the Effect of CPI Measures?
The Bureau of Labor Statistics publishes a schedule of monthly release dates for the Consumer Price Index (CPI) and associated data on consumer inflation. The CPI measures changes in what American consumers pay for everyday items ranging from coffee to cars.
By setting a release date and update time, everyone is able to get the latest inflation information at once, with no one receiving an advantage that could help them in the markets or elsewhere.
The CPI releases typically affect the prices of most cryptocurrencies, including bitcoin. Almost every announcement from 2022 brought enhanced volatility for the market, which is why it is important to see when the 2023 numbers will be made public.
Bitcoin's price swings were evident each time the central bank of the USA adjusted the interest rates. When the institution raised the benchmark by 0.5% in December, the primary cryptocurrency tumbled from $18.300 to $17.850 in a matter of minutes
Bottom Line
CPI data release has more or less effect on the economy and the crypto market. This article describes what is the schedule of CPI data release dates.
