ZAforexWhat is CPI?
The Consumer Price Index tracks the average price of a basket of goods and services households buy. The year-on-year change in CPI is the headline inflation rate. Core CPI excludes volatile food and energy prices and is watched closely by central banks.
Why CPI moves forex
Central banks raise interest rates to bring inflation down. A higher-than-expected US CPI print makes Fed rate cuts less likely, which tends to strengthen the US dollar and push down gold, the Nasdaq and emerging-market currencies like the rand. A lower print does the opposite.
When is CPI released?
| Release | Usually | Time (SAST) |
|---|---|---|
| US CPI (BLS) | Around the 10th–15th of each month | 14:30 (15:30 in the US winter) |
| SA CPI (Stats SA) | Usually the 3rd or 4th Wednesday of the month | 10:00 |
| Eurozone HICP flash | End or start of the month | 11:00 (12:00) |
| UK CPI (ONS) | Mid-month, Wednesday | 08:00 (09:00) |
South African inflation now
SA headline CPI was 4.4% in August 2026 (released 23 September), up from 4.3% in July, driven by a fuel-price shock. That is above the SARB's 3% inflation target, which is why the Reserve Bank raised the repo rate to 7.25% on 23 September 2026. See SA economic indicators.
How to trade CPI news
- Compare the actual number with the forecast on the calendar. The core figure often matters more than the headline.
- Expect wide spreads and fast moves in USD pairs, XAU/USD and NAS100 at release.
- Size positions with the lot size calculator and avoid tight stops right at the release.
Frequently asked questions
What does CPI mean in forex?
CPI is the Consumer Price Index, the main measure of inflation. Traders watch it because it changes interest-rate expectations, which drive currencies.
When is CPI in forex this month?
US CPI usually comes out in the second week of the month at 14:30 SAST. Check the economic calendar for this month's exact date.
What is the inflation rate in South Africa?
Headline CPI was 4.4% year-on-year in August 2026, according to Stats SA.