Core CPI (Excluding Food & Energy) vs Retail Sales (Monthly Change)
Core CPI (Excluding Food & Energy) is currently 3.1% (down -0.1%). Retail Sales (Monthly Change) is currently -0.2% (down -0.4%).
| Metric | Core CPI (Excluding Food & Energy) | Retail Sales (Monthly Change) |
|---|---|---|
| Current value | 3.1% | -0.2% |
| Previous reading | 3.2% | 0.2% |
| Change | -0.1% | -0.4% |
| Trend | down | down |
| Frequency | Monthly | Monthly |
| Source | Bureau of Labor Statistics | U.S. Census Bureau |
| Last updated | 2026-03-12 | 2026-03-17 |
| Category | inflation | consumer |
What Core CPI (Excluding Food & Energy) measures
Core CPI measures consumer price changes excluding food and energy, which are volatile and often driven by supply factors rather than monetary policy. It is the Fed's preferred gauge of underlying inflation trends.
Core CPI at 3.1% shows that underlying inflation remains sticky above the Fed's 2% target. Housing costs and services inflation are the primary culprits. For executives, sticky core inflation means the Fed is unlikely to cut interest rates soon, keeping borrowing costs elevated. Budget planners should assume inflation-adjusted cost increases of 3%+ for services, labor, and real estate.
What Retail Sales (Monthly Change) measures
Retail sales measures the total receipts of retail stores, covering purchases of durable and nondurable goods. It is a timely indicator of consumer demand and is closely watched for signs of economic strength or weakness.
Retail sales declined 0.2% in the latest report, following a weak January (-0.9%). Excluding autos and gas, the picture is slightly better. For executives in retail and consumer goods, the data suggests consumers are pulling back on discretionary purchases while maintaining spending on essentials. E-commerce continues to gain share of total retail sales.
Frequently asked
Core CPI (Excluding Food & Energy) is currently 3.1%, down -0.1% from the previous reading. Source: Bureau of Labor Statistics, updated monthly.
Retail Sales (Monthly Change) is currently -0.2%, down -0.4% from the previous reading. Source: U.S. Census Bureau, updated monthly.
Core CPI at 3.1% shows that underlying inflation remains sticky above the Fed's 2% target. Housing costs and services inflation are the primary culprits. For executives, sticky core inflation means th Retail sales declined 0.2% in the latest report, following a weak January (-0.9%). Excluding autos and gas, the picture is slightly better. For executives in retail and consumer goods, the data sugges