Connect with us


US inflation data was accidentally released 30 minutes early



US inflation data was accidentally released 30 minutes early

The US Bureau of Labor Statistics said it inadvertently released Consumer Price Index data 30 minutes early on Wednesday.
“In advance of today’s CPI and Real Earnings releases, BLS inadvertently loaded a subset of files to the website approximately 30 minutes prior to the release,” BLS said in a statement posted on its website Wednesday evening.
The agency typically releases its monthly report on consumer prices at 8:30 a.m. in Washington and is subject to strict protocols intended to prevent its early dissemination. The figures are closely scrutinized by Wall Street investors and central bank officials as they look for signals about the direction of the economy.One month ago, Bloomberg News reported that an economist from the Bureau of Labor Statistics corresponded on data related to a key US inflation gauge with major Wall Street firms like JPMorgan Chase & Co. and BlackRock Inc., raising questions about equitable access to economic information.

The latest revelation is likely to prompt a deep and broad look at the dissemination of economic information that has implications for how major assets trade, as well as Federal Reserve policy.

The agency responsible for the inflation report said it has notified the Office of Management and Budget and the Labor Department’s Office of the Inspector General of 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 said.

Continue Reading