Coming up soon – CPI data for May – here the ranges to watch

US consumer inflation data:

• for May 2024
• due at 1230 GMT, which is 0830 US Eastern time

Preview here:

• Preview: Eyes will be on every detail of the May CPI report

This snapshot is from the ForexLive economic data calendar, access it here. It shows the consensus estimate and the April (prior) result:

• The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.

For expectations from major investment banks, check this out:

• Goldman Sachs forecasts US May Headline CPI @ 3.4% y/y, core 3.5%

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Taking a look at the range of expectations compared to the median consensus (the ‘expected’ in the screenshot above) for the key data points:

March CPI Headline y/y range of expectations is showing:

• 3.4% – 3.6%

CPI Headline m/m range showing:

• 0.1 to 0.2%

CPI excluding food and energy (the core rate of inflation) y/y range showing:

• 3.4 – 3.4% ( yes, all 3.4)

CPI excluding food and energy m/m range showing:

• 0.1 to 0.3%

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Why is knowledge of such ranges important? Check out the longer version of this post I popped up back during Asia time, link here.

This article was written by Eamonn Sheridan at www.forexlive.com.