LeoPrime Daily Market Analysis

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USD strengthens after Higher than expected CPI

The Consumer Price Index (CPI) released by the US Bureau of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of USD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. According to the data released today, CPI stayed same as 2.2% for the second time in row and the yearly rate fell 1.6% from 1.9% . Meanwhile, CPI EX Food & Energy, which is released by the US Department of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Core CPI which excludes volatile food and energy prices, rose 0.2% and 2.2% on a monthly and yearly basis, respectively.

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