Consumer Price Index, CPI

Consumer Price Index or CPI measures the change in prices at the consumer level for a fixed basket of goods and services paid for by a typical consumer. Items included in the CPI reflect prices of food, clothing, shelter, fuels, transportation, health care and all other goods and services that people buy for day-to-day living. These items are divided into seven categories (housing, food, transportation, medical care, apparel, entertainment, and other), each of which is weighted by their relative importance. As in the case with the PPI, markets focus on the figure excluding food and energy items (called the core CPI) for a truer picture of inflationary forces. Since food and energy prices could fluctuate due to conditions that are unrelated to the economy--such as weather, oil supply or wars-- it is important to break down the factors impacting the change in prices.

ECONOMIC CALENDARS
DATE	TIME	COUNTRY	EVENT	FORECAST	PREVIOUS
07/21/08	3:15am	Switzerland	PPI m/m	0.4%	1.2%
07/21/08	4:45am	United Kingdom	BOE Governor King Speaks
	8:30am	Canada	Core Retail Sales m/m	0.8%	1.1%
	9:30pm	Australia	CPI q/q	1.2	1.3%
07/23/08	4:30am	United Kingdom	MPC Meeting Minutes	8-1 hld	8-1 hld
	7:00am	Canada	Core CPI m/m	0.2%	0.3%
	5:00pm	New Zealand	Monetary Policy Statement
	5:00pm	New Zealand	Official Cash Rate	8.25%	8.25%
07/24/08	4:00am	Eurozone	German Ifo Business Climate Index	100.2	101.3
	4:30am	United Kingdom	Retail Sales m/m	-2.5%	3.5%
	10:00am	United States	Existing Home Sales	4.93M	4.99M
07/25/08	4:30am	United Kingdom	Prelim GDP q/q	0.2%	0.3%
	8:30am	United States	Core Durable Goods Orders m/m	-0.2%	-0.9%
	10:00am	United States	New Home Sales	508K	512K

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