Aftermath of U.S. Government Shutdown: October PPI and CPI Data Delayed, Market and Fed Trapped in Decision-Making Blind Spot

On December 9, it was reported that due to the impact of previous funding interruptions and resulting government shutdowns, the latest schedule released by the U.S. Bureau of Labor Statistics shows that the Producer Price Index (PPI) report for October 2025 will not be released as originally planned.

According to the latest arrangement, the October data will be postponed until January 14, 2026, and will be released together with the also-delayed PPI report for November 2025.

The impact of this data gap is far-reaching. As a key indicator measuring upstream wholesale price pressures, the PPI is an important reference for the Federal Reserve in assessing inflation trends, and provides critical guidance for evaluating the Fed’s core focus: the Personal Consumption Expenditures Price Index (PCE).

In addition, on the eve of the crucial Federal Reserve policy meeting on December 10, the absence of this key data has directly resulted in a significant one-month gap in inflation monitoring.

More seriously, unlike the PPI, the Consumer Price Index (CPI) data for October was also severely affected by the shutdown and was not released, further exacerbating the blind spot in inflation surveillance.

This means that both the market and policymakers are lacking a full month of official consumer and producer price data as a basis for judging the overall inflation trajectory.

Overall, in the face of this series of data vacuums, the Federal Reserve will be forced to rely more heavily on other indirect indicators and market surveys when formulating future monetary policy, which will undoubtedly increase uncertainty and the difficulty of predictions.

#美国劳工统计局 #PPI #CPI