Release Date for Upcoming Consumer Price Index (CPI) Report
The next Consumer Price Index (CPI) report, a highly anticipated economic indicator, is scheduled for release on Thursday, September 11, 2025, at 8:30 AM Eastern Time. This report will cover the data for August 2025.
The CPI report, issued monthly by the U.S. Bureau of Labor Statistics (BLS), provides timely inflation data to markets and policymakers. The most recent CPI report, covering July 2025, was released on August 12, 2025.
The CPI report is broken down into many subcategories, but the two main ones are headline CPI and core CPI. The headline CPI excludes volatile food and energy prices, while core CPI is considered a better predictor of future inflation.
According to consensus estimates, the next CPI report suggests a 0.3% gain in core prices over the month of July, taking the annual rate to 3.0%.
RBC BlueBay Chief Investment Officer Mark Dowding has noted that the risks for the next CPI report sit to the high side. This observation comes amidst the Federal Reserve's most aggressive campaign of interest rate hikes since the late Carter and early Reagan administrations.
Following the July jobs report, the odds of a September rate cut have decreased, with the CME FedWatch showing odds at 87%. However, inflation peaked in 2022, but the implementation of price-raising tariffs and a resilient labor market have made the central bank reluctant to reduce the federal funds rate.
Data for the CPI is collected over the course of the month in 75 urban areas throughout the country and from about 23,000 retail and service establishments. The weight for an item in the CPI is derived from reported expenditures on that item as estimated by the Consumer Expenditure Survey. For instance, data on rents is collected from about 50,000 landlords or tenants.
The CPI report has become one of the stars of the economic calendar due to the market's obsession with it. As such, the upcoming release on September 11, 2025, is eagerly awaited by investors, economists, and policymakers alike.
It's worth noting that the Fed sets its long-term 2% target based on the Personal Consumption Expenditures Price Index (PCE). While the CPI is the better-known inflation gauge and is probably more relatable to what consumers experience in their daily lives, the Fed believes the PCE index has critical advantages when formulating monetary policy.
[1] U.S. Bureau of Labor Statistics. (n.d.). Consumer Price Index (CPI). Retrieved August 19, 2025, from https://www.bls.gov/cpi/ [5] U.S. Bureau of Labor Statistics. (2025, August 12). Consumer Price Index Summary for July 2025. Retrieved August 19, 2025, from https://www.bls.gov/opub/ted/2025/consumer-price-index-summary-for-july-2025.htm
[1] Investors are closely monitoring the upcoming Consumer Price Index (CPI) report, scheduled for release on September 11, 2025, as it could impact their finance-related decisions, such as investing.
[2] According to RBC BlueBay Chief Investment Officer Mark Dowding, the risks for the upcoming CPI report are higher, potentially challenging the consensus estimate of a 0.3% gain in core prices over the month of July, which would take the annual rate to 3.0%.
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