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.
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
Q: Why exclude food and energy? A: Food and energy prices are volatile due to weather, geopolitics, and seasonal factors. Excluding them reveals underlying inflation trends.
Q: Is core CPI more important than headline CPI? A: Both matter. Core CPI is better for policy analysis; headline CPI reflects actual consumer costs.
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