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Consumer Price Index (CPI)

An index of what households actually buy. Stripping out volatile food and energy gives core CPI, which is what you read for the trend.

What it isAn index of what households actually buy. Stripping out volatile food and energy gives core CPI, which is what you read for the trend.Why an investor watches itOf the monthly inflation prints, this is the one markets react to fastest. Note the Fed’s own target is PCE, not CPI — the two are built differently.

It's Not Just Hormuz: Why the Middle East War Is Becoming a Fed Problem Again

The US-Iran ceasefire has already collapsed, and the risk no longer sits in the Gulf alone. With the Red Sea and Saudi Arabia's bypass pipeline now under threat too, an energy shock is spreading into prices, the Fed, and growth-stock valuations.

Macro