U.S. Inflation Data: BLS to Release CPI Report on October 24 Amid Government Shutdown

Boluwatife Adeyemi
3 hours ago
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An image of Bitcoin's logo and CPI text to represent the U.S. inflation data

Highlights

  • The Bureau of Labor Statistics has announced that it will release the CPI data on October 24.
  • The data was originally v

The Bureau of Labor Statistics (BLS) has rescheduled the release of the September Consumer Price Index (CPI) U.S. inflation data. The proposed BLS CPI release comes amid the ongoing U.S. government shutdown, while the crypto market will be watching this inflation data, as it could influence the FOMC decision.

BLS To Release U.S. Inflation Data On October 24

The Bureau of Labor Statistics announced that it will publish the September CPI on October 24, rather than October 15, which was the original publication date for this data. The agency indicated that this is the only report that they will release while the U.S. government shutdown is ongoing.

This comes amid delays in other key macroeconomic data, such as U.S. jobs data, due to the ongoing U.S. government shutdown. Meanwhile, with the October 24 release, the U.S. inflation data will drop just five days before the October 29 FOMC meeting.

The U.S. inflation data could influence the rate-cut decision at the meeting, especially given that some Fed officials remain concerned about rising inflation. Fed Governor Michael Barr recently stated that they have to be cautious about adjusting monetary policy, warning that the Trump tariffs could create persistent inflation.

However, the FOMC minutes showed that most Fed officials are currently leaning towards more rate cuts by year-end. The officials indicated that the focus is now more on the weakening labor market rather than the inflation risks.

CME FedWatch data shows that there is currently a 96.7% chance that the Fed will make a 25 basis points (bps) cut at the October FOMC meeting. With a rate cut almost certain, a lower-than-expected U.S. inflation data could raise the possibility of a higher cut.

However, Fed Governor Chris Waller cautioned against increasing the pace or magnitude of the cuts. He believes that they are on the right track with regard to easing monetary policy, while he also indicated that he will support a 25 bps cut at both the October and December FOMC meetings.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.