The first Friday of each month used to be the big day in terms of financial data, because that's when the new unemployment figures are released. As Axios reports, that has changed this year. The new big day: the 10th of every month, when the consumer price index comes out as a measure of inflation. Coverage:
- A shift: Jason Furman, who served as chair of the Council of Economic Advisers under President Obama, sums it up: "When I was at CEA, we would have an all-out mobilization around jobs day but barely noticed when the CPI came out. Now, it is almost the reverse."
- The worries: A new survey by the Wall Street Journal illustrates why the CPI is so important. More than half of voters—56%—say inflation is causing either major or minor financial strain in their lives. Most of these respondents cited gas and grocery prices, while a quarter cited housing and utility bills. The sentiment helps explain why most people think the economy is headed in the wrong direction, even though unemployment is improving.