Data on U.S. consumer prices, the most anticipated report of the month, was released early, yet it appears the market didn’t notice.
The Bureau of Labor Statistics (BLS) reported that a subset of the files was accidentally posted on its website about 30 minutes before the scheduled release time, around 8 a.m. Eastern.
The BLS did not clarify which data were released or if this subset would have been sufficient for informed investors to take action. An investigation is now underway.
“BLS has alerted the Office of Management and Budget and the Department of Labor’s Office of the Inspector General about the incident. BLS takes its data security seriously and is conducting a full investigation into its procedures and controls to ensure the incident is not repeated,” the agency stated.
An examination of key futures contracts and currency movements showed minimal activity around 8 a.m. Eastern on Wednesday, with significant movements occurring at the official release time of 8:30 a.m. This suggests that very few, if any, investors noticed the early release.
The report indicated that the Consumer Price Index (CPI) increased more slowly than expected, news that subsequently drove stocks and bonds higher.
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