Alternative data analytics firm QuantCube Technology has launched the QuantCube Core CPI Nowcast indicator for the US economy, which quantifies core inflation by measuring changes in the prices of goods and services.
The indicator excludes the food and energy components included in the broader Consumer Price Index, which are generally more volatile, and is designed to provide a clear picture of long-term inflation trends in the US. The indicator provides real-time insights on core inflation significantly ahead of official numbers published monthly.
The QuantCube team applied a fundamental approach to construct the new core CPI indicator – collecting and analysing high volumes of frequently-published alternative data on the prices of goods and services. QuantCube says its approach is unique in analysing real prices, not market sentiment.
Users of QuantCube’s Macroeconomic Intelligence Platform (MIP), will benefit from the ability to see real-time data from QuantCube for both headline CPI and core CPI – and a breakdown by component. As well as tracking variations in core inflation against the standard CPI price level, users will also be able to view variations year on year and month on month.
