Data on U.S. consumer prices, the most eagerly awaited report of the month, was released early, and there’s no indication that anyone in the market noticed.
The Bureau of Labor Statistics (BLS) announced that a subset of the files was inadvertently posted to its website about 30 minutes prior to the scheduled release time, around 8 a.m. Eastern.
The BLS did not specify which data were released or whether this subset would have been sufficient for informed investors to act on. An investigation into the incident 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.
A review of key futures contracts and currency movements showed very little activity around 8 a.m. Eastern on Wednesday, with significant moves occurring at the official release time of 8:30 a.m. This indicates that very few, if any, investors noticed the early release.
The report revealed that the Consumer Price Index (CPI) rose more slowly than expected, news that subsequently boosted stocks and bonds.
