The Consumer Price Index Ex Food & Energy m/m measures changes in prices of a basket of consumer goods and services in the specified month compared to the previous one. The index shows price changes from the perspective of the consumer. Food and energy prices are excluded from the indicator due to their high volatility.
The index is calculated using the comparison to the prices of 1982, which is set as the base period for the CPI calculation.
The Consumer Price Index is the key indicator to measure the US inflation. Readings above expectations are seen as positive for the US dollar.