CPI (Consumer Price Index)

The Consumer Price Index measures the average change over time in the prices paid by consumers for a representative basket of goods and services. It is published monthly by the Bureau of Labor Statistics. CPI-U covers urban consumers, more than ninety percent of the United States population. CPI-W covers urban wage earners and clerical workers. CPI is the most widely quoted United States inflation measure, though the Federal Reserve states its inflation objective in terms of the Personal Consumption Expenditures price index.

High and rising CPI puts pressure on the Fed to raise interest rates, which hurts stocks — especially high-multiple growth names. CPI prints are among the most market-moving economic releases.

Further reading: Wikipedia