Forex encyclopedia

Consumer price index is the index measuring an average change of the price for goods (44%) and services (56%) of consumer basket of goods. It is major tool for estimation cost of life and one of major indicators of inflation level in the country. Besides, the index is used for price adjustment in other economic indicators of the state such as GDP. One more function of CPI – regulation of social benefits level. CPI is published for the previous month by the Department of Labor, Bureau of Labor Statistics at 08:30 a.m EST (New York) or 4:30 p.m (MSK).

This consumer sentiment index represents results of survey of consumers, which is conducted by Michigan University. Questions touch upon confidence of citizens in economic conditions and prospects for the nearest future. Obtained figure throws light on respondents' sentiment and their intentions regarding spending money. Index is published twice a month. The fist one is the advance report announced in the end of the second week, usually on Friday. In two weeks final report is published. Publication time is 10:00 a.m EST (New York). Market respond to published data is minor. Index growth is favorable towards consolidation of national currency.