United States's headline Consumer Price Index (CPI) measures the monthly change in the price level of a representative basket of consumer goods and services. It is the primary inflation measure monitored by the Federal Reserve.
Why FX traders watch it
Central banks, including the Federal Reserve, set policy rates in response to inflation. An above-target CPI print increases the probability of a rate hike, which is typically usd-positive, while below-target inflation raises rate-cut odds and can weaken the currency.
How to interpret the data
An inflation reading above consensus or above the Federal Reserve's target band is hawkish and supports the usd. A downside surprise is dovish and tends to weigh on the currency, particularly when inflation has been trending lower for several months.
Historical Inflasjonsrate (KPI/HICP) (USD)
Source: FRED (BLS)
· Monthly
· Index, Seasonally Adjusted, %YoY
Optional upper bound. Defaults to the current date.
api_key
CONDITIONAL
string
Required for non-USD announcement requests. USD announcement requests are public without an API key.
Example Usage
To retrieve Inflasjonsrate (KPI/HICP) data for USD from 2023:
GET https://fxmacrodata.com/api/v1/announcements/usd/inflation?start_date=2023-01-01&end_date=2023-12-31
Frequently Asked Questions
What is the Federal Reserve's inflation target?
Most major central banks target annual inflation near 2%. Check the Federal Reserve's current monetary policy statement for the official target.
How is headline CPI different from core CPI?
Headline CPI includes all items, notably food and energy, which are volatile. Core CPI strips these out to give a cleaner read of underlying price pressure.
Which currency endpoint serves United States CPI data?
Historical CPI data for United States is available at /api/v1/announcements/usd/inflation.