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Consumer Price Index ex Food & Energy (MoM)

The US Federal Reserve has a dual mandate of maintaining price stability and maximum employment. According to such mandate, inflation should be at around 2% YoY and has become the weakest pillar of the central bank’s directive ever since the world suffered a pandemic, which extends to these days. Price pressures keep rising amid supply-chain issues and bottlenecks, with the Consumer Price Index (CPI) hanging at multi-decade highs. The Fed has already taken measures to tame inflation and is expected to maintain an aggressive stance in the foreseeable future.

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Most recent - Tuesday 13 January 2026 13:30

0.2%

Revised

Forecast

0.3%

Actual

0.2%

Lower numbers than forecast tend to be bullish for xxx/USD pairs and bearish for USD/xxx pairs.

Next event - Friday 13 February 2026 13:30

0.2%

Forecast

0.3%

Actual

The typical/expected impact on USD pairs is high.

The consensus forecast for Consumer Price Index ex Food & Energy (MoM) is 0.3%. A higher value than forecast tends to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Trading range

Forecast history

The most recent announced value for Consumer Price Index ex Food & Energy (MoM) was 0.2% against a forecast of 0.3%.

Past events

Date

Forecast

Actual

Tuesday 13 January 2026 13:30

0.3%

0.2%

Wednesday 10 December 2025 13:30

Thursday 13 November 2025 13:30

0.3%

Friday 24 October 2025 12:30

0.3%

0.2%

Thursday 11 September 2025 12:30

0.3%

Tuesday 12 August 2025 12:30

0.3%

Tuesday 15 July 2025 12:30

0.3%

0.2%

Wednesday 11 June 2025 12:30

0.3%

0.1%

Tuesday 13 May 2025 12:30

0.3%

0.2%

Thursday 10 April 2025 12:30

0.3%

0.1%

Wednesday 12 March 2025 12:30

0.3%

0.2%

Wednesday 12 February 2025 13:30

0.3%

0.4%

Wednesday 15 January 2025 13:30

0.2%

Wednesday 11 December 2024 13:30

0.3%

Wednesday 13 November 2024 13:30

0.3%

Thursday 10 October 2024 12:30

0.2%

0.3%

Wednesday 11 September 2024 12:30

0.2%

0.3%

Wednesday 14 August 2024 12:30

0.2%

Thursday 11 July 2024 12:30

0.2%

0.1%

Wednesday 12 June 2024 12:30

0.3%

0.2%

Wednesday 15 May 2024 12:30

0.3%

Wednesday 10 April 2024 12:30

0.3%

0.4%

Tuesday 12 March 2024 12:30

0.3%

0.4%

Tuesday 13 February 2024 13:30

0.3%

0.4%

Thursday 11 January 2024 13:30

0.3%

Tuesday 12 December 2023 13:30

0.3%

Tuesday 14 November 2023 13:30

0.3%

0.2%

Thursday 12 October 2023 12:30

0.3%

Wednesday 13 September 2023 12:30

0.2%

0.3%

Thursday 10 August 2023 12:30

0.2%

Wednesday 12 July 2023 12:30

0.3%

0.2%

Tuesday 13 June 2023 12:30

0.4%

Wednesday 10 May 2023 12:30

0.4%

Wednesday 12 April 2023 12:30

0.4%

Tuesday 14 March 2023 12:30

0.4%

0.5%

Tuesday 14 February 2023 13:30

0.4%

Economic context

Recent economic data has been moderately bullish for USD. Other recent announcements which may affect the market's interpretation of the next Consumer Price Index ex Food & Energy (MoM) result:

		Previous	Latest
Monthly Budget Statement	Bullish change	$-145B	$-95B
Average Hourly Earnings (MoM)	Bullish change	0.1%	0.4%
Average Hourly Earnings (YoY)	(no change)	3.7%	3.7%
Labor Force Participation Rate	Bullish change	62.4%	62.5%
Nonfarm Payrolls	Bullish change	48K	130K
U6 Underemployment Rate	Bullish change	8.4%	8%
Unemployment Rate	Bullish change	4.4%	4.3%
Employment Cost Index	Bearish change	0.8%	0.7%
Retail Sales (MoM)	Bearish change	0.6%	0%
Retail Sales Control Group	Bearish change	0.2%	-0.1%
Retail Sales ex Autos (MoM)	Bearish change	0.4%	0%
ADP Employment Change 4-week average	Bullish change	5K	6.5K
Michigan Consumer Expectations Index	Bearish change	57	56.6
Michigan Consumer Sentiment Index	Bullish change	56.4	57.3
UoM 1-year Consumer Inflation Expectations	Bearish change	4%	3.5%
UoM 5-year Consumer Inflation Expectation	Bullish change	3.3%	3.4%
JOLTS Job Openings	Bearish change	6.928M	6.542M
Initial Jobless Claims	Bearish change	209K	231K
Challenger Job Cuts	Bullish change	35.553K	108.435K
ISM Services Employment Index	Bearish change	51.7	50.3
ISM Services New Orders Index	Bearish change	56.5	53.1
ISM Services PMI	(no change)	53.8	53.8
ISM Services Prices Paid	Bullish change	65.1	66.6
S&P Global Composite PMI	Bullish change	52.8	53
ADP Employment Change	Bearish change	37K	22K
ISM Manufacturing Employment Index	Bullish change	44.8	48.1
ISM Manufacturing New Orders Index	Bullish change	47.4	57.1
ISM Manufacturing PMI	Bullish change	47.9	52.6
ISM Manufacturing Prices Paid	Bullish change	58.5	59
Chicago PMI	Bullish change	43.5	54
Producer Price Index (MoM)	Bullish change	0.2%	0.5%
Producer Price Index (YoY)	(no change)	3%	3%
Producer Price Index ex Food & Energy (MoM)	Bullish change	0%	0.7%
Producer Price Index ex Food & Energy (YoY)	Bullish change	3%	3.3%
Factory Orders (MoM)	Bullish change	-1.3%	2.7%
Initial Jobless Claims	Bullish change	210K	209K
Nonfarm Productivity	(no change)	4.9%	4.9%
Unit Labor Costs	(no change)	-1.9%	-1.9%

About Consumer Price Index ex Food & Energy (MoM)

Country:	United States
Currency:	USD
Source:	US Bureau of Labor Statistics
Category:	Inflation
Frequency:	Monthly

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Consumer Price Index ex Food & Energy (MoM)

Most recent - Tuesday 13 January 2026 13:30

Next event - Friday 13 February 2026 13:30

Trading range

Trading range after each Consumer Price Index ex Food & Energy (MoM) event

Forecast history

Past events

Economic context

About Consumer Price Index ex Food & Energy (MoM)

Related events