Open a Live Account!

Open a Free Practice Account

Open a free practice account and experience the Forex market risk-free with exclusive access to VT Trader™ 2.0.

Simulated conditions may differ from real conditions, and traders should not necessarily expect the same results from live trading.

www.cmsfx.com
Indicator Digest

Consumer Price Index
CPI is one of the most widely used measure of inflation, as it follows the price changes experienced by consumers when purchasing goods and services. This is usually measured by a following an index of a certain "basket of goods", that is made up of the the items needed by a household. "Core" CPI usually excludes volatile items, such as food and energy, in order to get a better sense of price changes without these prices factored in.

Main Indicator: Consumer Price Index y/y

Most Recent Release

June
30th, 2009
Actual Forecast Previous Revised Form
-0.1% -0.2% 0.0% N/A

Preliminary Version for June
Provided by: EuroStat
Official Release: PDF

CPI m/m: pr. 0.6% (Apr) 0.4% (Mar), 0.4% (Feb) -0.8% (Jan),
-0.1% (Dec), -0.5%, (Nov), 0.0% (Oct), 0.2% (Sep), -0.1% (Aug),

Core CPI y/y: pr. 1.8% (Apr), 1.5% (Mar), 1.7% (Feb), 1.6% (Jan),
1.8% (Dec), 1.9% (Nov), 1.9% (Oct), 1.9% (Sep), 1.9% (Aug)

The Euro-zone's consumer prices fell 0.1% in June, preliminary data showed. That is the first annual decline recorded since records began in 1996. The decline is led by the 50% decline in the price of oil in the past year, which lowers energy costs. Firms are cutting prices as well to attract business as the recession crimps consumer spending. The data does not suggest that the Euro-zone is headed for deflation as the dip into negative territory is likely temporary. However, soft inflation will keep the ECB from increasing interest rates. 

Table of Past Data

2/273/23/163/314/164/305/155/296/166/30
Actual1.1%1.2%1.2%0.6%0.6%0.6%0.6%0.0%0.0%-0.1%
Forecast1.1%1.0%1.2%0.7%0.6%0.7%0.6%0.2%0.0%-0.2%
Previous1.1%1.1%1.2%1.2%0.6%0.6%0.6%0.6%0.0%0.0%
Revised FromN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A

Past Releases

June
16th, 2009
Actual Forecast Previous Revised Form
0.0% 0.0% 0.0% N/A

Final Version for May
Provided by: EuroStat
Official Release: PDF

CPI m/m: 0.1%, forecast 0.0%, pr. 0.4% (Apr), 0.4% (Mar), 0.4% (Feb)
-0.8% (Jan), -0.1% (Dec), -0.5%, (Nov), 0.0% (Oct), 0.2% (Sep),

Core CPI y/y: 1.5%, forecast 1.6%,  pr. 1.8% (Apr),1.5% (Mar),
1.7% (Feb), 1.6% (Jan), 1.8% (Dec), 1.9% (Nov), 1.9% (Oct),
1.9% (Sep), 1.9% (Aug)

May
29th, 2009
Actual Forecast Previous Revised Form
0.0% 0.2% 0.6% N/A

Preliminary Version for May
Provided by: EuroStat
Previous Release: PDF

CPI m/m: pr. 0.6% (Apr) 0.4% (Mar), 0.4% (Feb) -0.8% (Jan),
-0.1% (Dec), -0.5%, (Nov), 0.0% (Oct), 0.2% (Sep), -0.1% (Aug),

Core CPI y/y: pr. 1.8% (Apr), 1.5% (Mar), 1.7% (Feb), 1.6% (Jan),
1.8% (Dec), 1.9% (Nov), 1.9% (Oct), 1.9% (Sep), 1.9% (Aug)

The Euro-zone saw the annual pace of inflation hit zero for the first time in at least 13 years in May as energy costs retreated and companies cut prices in response to the recession. The Euro-zone began compiling the data in 1996. The rate reflects the 50% drop in energy prices over the past year. Though companies have been cutting their prices to lure customers, prospects of a rebound in growth can help slow that trend. Therefore the ECB may not be as concerned about deflation though a period of negative figures could be expected through the summer months.  

May
15th, 2009
Actual Forecast Previous Revised Form
0.6% 0.6% 0.6% N/A

Final Version for April
Provided by: EuroStat
Official Release: PDF

CPI m/m: 0.4%, pr. 0.4% (Mar), 0.4% (Feb) -0.8% (Jan), -0.1% (Dec),
-0.5%, (Nov), 0.0% (Oct), 0.2% (Sep), -0.1% (Aug),

Core CPI y/y: 1.8%, pr. 1.5% (Mar), 1.7% (Feb), 1.6% (Jan), 1.8% (Dec),
1.9% (Nov), 1.9% (Oct), 1.9% (Sep), 1.9% (Aug)

April
30th, 2009
Actual Forecast Previous Revised Form
0.6% 0.7% 0.6% N/A

Preliminary Version for Apirl
Provided by: EuroStat
Official Release: PDF

CPI m/m: pr. 0.4% (Mar), 0.4% (Feb) -0.8% (Jan), -0.1% (Dec),
-0.5%, (Nov), 0.0% (Oct), 0.2% (Sep), -0.1% (Aug),

Core CPI y/y: pr. 1.5% (Mar), 1.7% (Feb), 1.6% (Jan), 1.8% (Dec),
1.9% (Nov), 1.9% (Oct), 1.9% (Sep), 1.9% (Aug)

The flash version of April's CPI showed the annual rate remaining at 0.6%, holding at its record low. Low inflation is a reflection of weak activity and will hurt revenues for stores and firms. The data, along with higher unemployment figures, adds pressure on the ECB when it meets next week to cut rates and introduce some form of quantitative easing. 

April
16th, 2009
Actual Forecast Previous Revised Form
0.6% 0.6% 0.6% N/A

Revised Version for March
Provided by: EuroStat
Official Release: PDF

CPI m/m: 0.4%, pr. 0.4% (Feb) -0.8% (Jan), -0.1% (Dec), -0.5%, (Nov),
0.0% (Oct), 0.2% (Sep), -0.1% (Aug),

Core CPI y/y: 1.5%, pr. 1.7% (Feb), 1.6% (Jan), 1.8% (Dec), 1.9% (Nov),
1.9% (Oct), 1.9% (Sep), 1.9% (Aug)

The final version of Euro-zone consumer prices matched the preliminary estimate. On the year prices are up just 0.6%, with the core annual rate sliding to 1.5%. Both figures are showing very weak inflation giving the ECB more leeway to cut rates from 1.25%. On the month though, prices increased 0.4% for a second straight month. 

March
31st, 2009
Actual Forecast Previous Revised Form
0.6% 0.7% 1.2% N/A

Flash Version for March
Provided by: EuroStat
Official Release: PDF

CPI m/m: pr. 0.4% (Feb) -0.8% (Jan), -0.1% (Dec), -0.5%, (Nov),
0.0% (Oct), 0.2% (Sep), -0.1% (Aug),

Core CPI y/y: pr. 1.7% (Feb), 1.6% (Jan), 1.8% (Dec), 1.9% (Nov),
1.9% (Oct), 1.9% (Sep), 1.9% (Aug)

European consumer prices slowed to an annual pace of 0.6%, preliminary data for the month of March showed. That is a record low for the index that goes back to 1996, and a rather modest decline from the 1.2% seen in February. The release did not include monthly, or core figures, and more detail regarding what moved the index will be available in about 2 weeks time. The data does give the ECB a new paradigm in that concerns over deflation may overpower the reluctance of the ECB to continue lowering interest rates and to move to quantitative easing. The UK and the US have already taken such steps.

March
16th, 2009
Actual Forecast Previous Revised Form
1.2% 1.2% 1.2% N/A

Final Version for February
Provided by: EuroStat
Official Release: PDF

CPI m/m: 0.4%, forecast 0.4%, pr. -0.8% (Jan), -0.1% (Dec), -0.5%, (Nov),
0.0% (Oct), 0.2% (Sep), -0.1% (Aug),

Core CPI y/y: 1.7%, forecast 1.6%, pr. 1.6% (Jan), 1.8% (Dec), 1.9% (Nov),
1.9% (Oct), 1.9% (Sep), 1.9% (Aug)

March
2nd, 2009
Actual Forecast Previous Revised Form
1.2% 1.0% 1.1% N/A

Preliminary Version for February
Provided by: EuroStat
Official Release: PDF

CPI m/m: pr. -0.8% (Jan), -0.1% (Dec), -0.5%, (Nov), 0.0% (Oct),
0.2% (Sep), -0.1% (Aug),

Core CPI y/y: pr. 1.6% (Jan), 1.8% (Dec), 1.9% (Nov), 1.9% (Oct),
1.9% (Sep), 1.9% (Aug)

February
27th, 2009
Actual Forecast Previous Revised Form
1.1% 1.1% 1.1% N/A

Final Version for January
Provided by: EuroStat
Official Release: PDF

CPI m/m: -0.8%, forecast -0.8%, pr. -0.1% (Dec), -0.5%, (Nov), 0.0% (Oct),
0.2% (Sep), -0.1% (Aug),

Core CPI y/y: 1.6%, forecast 1.8%, pr. 1.8% (Dec), 1.9% (Nov), 1.9% (Oct),
1.9% (Sep), 1.9% (Aug)