Consumer Price Index - Excluding Food & Energy (Core CPI)
Returns the Core Consumer Price Index, which excludes volatile food and energy prices to show underlying inflation trends.
Data Source
Bureau of Labor Statistics (BLS) - Consumer Price Index.
Usage Notes
- No parameters required
- Index value (1982-84 base = 100)
- Data updated monthly
- Key measure watched by the Federal Reserve
Why Core CPI Matters
| Reason | Explanation |
|---|---|
| Less volatile | Removes transitory price swings |
| Policy relevant | Fed focuses on core for rate decisions |
| Trend indicator | Shows underlying inflation momentum |
Fed Target
The Federal Reserve targets 2% inflation, often referencing core measures to assess progress.
Syntax
=ConsumerPriceindexWithoutFoodEnergy()Examples
Current core CPI index
When to Use
- Analyzing underlying inflation trends
- Federal Reserve policy analysis
- Long-term inflation forecasting
- Filtering out volatile price swings
When NOT to Use
Common Issues & FAQ
Why exclude food and energy?
Food and energy prices are volatile due to weather, geopolitics, and seasonal factors. Excluding them reveals underlying inflation trends.
Is core CPI more important than headline CPI?
Both matter. Core CPI is better for policy analysis; headline CPI reflects actual consumer costs.
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