There are a number of important economic reports to watch this week, but none more anticipated than Tuesday morning's release of the Consumer Price Index (CPI). This is because the headline reading is expected to come in red-hot as energy prices remain elevated amid the ongoing conflict in the Middle East.
What's more, the inflation data will land right around when the full Senate is expected to vote on Kevin Warsh's nomination to succeed Jerome Powell as Fed chair. While an exact date has yet to be announced for the vote, it's likely to happen the week of May 11 given Powell's term as Fed chair is up on Friday, May 15.
Economic reports we're watching
Tuesday, May 12: CPI and core CPI: Energy prices will likely keep headline inflation higher, while core CPI will be impacted by one-off adjustments to rent.
Read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released in the next several days. At times, we provide expanded previews and recaps for select reports.
Please check back often. This economic calendar is updated regularly. Bolded reports are those considered more noteworthy. All reporting times are in Eastern Time.
Monday (5/11)
Time released |
Economic report |
Period |
10:00 |
Existing home sales |
April |
Tuesday (5/12)
Energy prices will keep headline inflation hot
A slowing labor market was the Federal Reserve's main focus in mid- to late 2025. Attention has shifted to inflation in 2026 as energy prices spike amid the ongoing conflict in the Middle East.
Since late February, when the war between the U.S., Israel and Iran began, oil prices have spiked to their highest level in four years and gas prices have jumped above $4.50 per gallon.
And it's already taking its toll on consumers' purchasing power. In March, for instance, the Consumer Price Index (CPI) posted its largest monthly increase since June 2022 (+0.9%) and its biggest annual rise since May 2024 (+3.3%).
Rising energy costs were the main reason behind the hot headline number. "The index for energy rose 10.9 percent in March, led by a 21.2-percent increase in the index for gasoline which accounted for nearly three quarters of the monthly all items increase," said the Bureau of Labor Statistics (BLS).
And Payne expects another large increase in gas prices in the April CPI, considering it measures mostly mid-month data. "That should shoot the 12-month inflation rate close to 4.0%, where it should stay until gasoline prices start falling," he explains in the Kiplinger inflation outlook.
The Bureau of Labor Statistics will release the April CPI report at 8:30 am Eastern Standard Time Tuesday morning.
Headline CPI is expected to be up 0.6% from March to April and 3.7% from the year prior. Core CPI is forecast to rise 0.3% month over month and 2.7% year over year.
Ahead of the April CPI report, we looked at what economists, strategists and other experts on Wall Street expect the data to show. You'll find these outlooks, edited at times for brevity, below.
Time released |
Economic report |
Period |
3:15 am |
New York Fed President John Williams speaks |
N/A |
8:30 am |
Consumer Price Index (CPI) |
April |
8:30 am |
Core CPI |
April |
1 pm |
Chicago Fed President Austan Goolsbee speaks |
N/A |
2 pm |
Federal budget balance |
April |
Wednesday (5/13)
Time released |
Economic report |
Period |
8:30 am |
Producer Price Index (PPI) |
April |
8:30 am |
Core PPI |
April |
11:30 am |
Boston Fed President Susan Collins speaks |
N/A |
1:15 pm |
Minneapolis Fed President Neel Kashkari speaks |
N/A |
Thursday (5/14)
Time released |
Economic report |
Period |
8:30 am |
Weekly jobless claims |
Week ending May 9 |
8:30 am |
Retail sales |
April |
8:30 am |
Import prices |
April |
10 am |
Business inventories |
March |
1 pm |
Cleveland Fed President Beth Hammack speaks |
N/A |
7 pm |
Fed Governor Michael Barr speaks |
N/A |
Friday (5/15)
Time released |
Economic report |
Period |
8:30 am |
Empire State Manufacturing Index |
May |
9:15 am |
Capacity utilization rate |
April |
9:15 am |
Industrial production |
April |
Reporting schedules are provided Forex Factory and MarketWatch.
