Inflation · EURUsual scheduleLive week from the calendar

Eurozone CPI: release time and what it moves

Eurostat (the euro area's Harmonised Index of Consumer Prices. The flash estimate at the end of the month or the first working days of the next; the final figure about two weeks later, usually at 5:00 AM New York time. What it is, what traders watch and how the WhitePips rules treat trading around it.

  • Monthlyhow often
  • 5:00 AMNew York time
  • Red or Amberusual calendar rating

Eurozone CPI on this week's calendar

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Times in your own time zone and in New York; releases already out are dimmed. Red is high impact, Amber medium; the ratings are the calendar feed's.

InflationEUR

What Eurozone CPI is

Eurozone CPI

The Harmonised Index of Consumer Prices measures inflation across the euro area, built the same way in every member country. Eurostat publishes a flash estimate within days of the month ending; the final figure rarely changes it much.

The ECB aims for 2% inflation over the medium term, measured by this index, so the flash estimate moves expectations for the next ECB meeting. Germany, France, Italy and Spain publish their own figures first, so much of the surprise can be gone by the time the euro area number comes out.

When it comes out

Published by
Eurostat (the euro area's Harmonised Index of Consumer Prices, HICP)
How often
Monthly: a flash estimate, then the final figure
Usual day
The flash estimate at the end of the month or the first working days of the next; the final figure about two weeks later
Usual time
5:00 AM New York; 11:00 Luxembourg time: 09:00 UTC in summer, 10:00 UTC in winter
On the calendar as
CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Final CPI y/y
Usual rating
Red or Amber for the flash estimate

What traders watch

Core inflation

Without energy, food, alcohol and tobacco: the trend the ECB looks through to.

Services inflation

The stickiest part of euro area inflation.

The country figures before it

Germany's preliminary figure often sets the tone the day before or the same morning.

On MetaTrader 5Pip value, lots and commission

Symbols Eurozone CPI moves

The WhitePips symbols that usually react most to Eurozone CPI. Each page has the pip or point value, a lot-size example and the commission on every plan.

EURUSDEuro / US dollarEURGBPEuro / British poundEURJPYEuro / Japanese yenEURCHFEuro / Swiss francGER30Germany 30EU50Europe 50

Futures on Volumetrica: 6EEuro FX

Trading Rules, section 11In the rules' own words

Trading Eurozone CPI at WhitePips

CFD plans Every plan, every stage

News trading is permitted on every CFD plan. You may open, hold and close positions before, during and after economic releases on every CFD plan, in the evaluation and once funded. There is no restricted window around a release on a CFD account, and no profit is removed because a trade was placed around news.

News straddling is not permitted. On every CFD plan, you may not open straddled, offsetting or hedged exposure on the same or correlated instruments within 15 minutes before or after a scheduled Red or Amber (high or medium impact) economic event, a company earnings release, or a major geopolitical announcement, where the purpose is to capture the volatility of the event rather than to take a view on its outcome. Placing a buy and a sell (or a buy stop and a sell stop) on the same instrument, or opposite positions on correlated instruments such as EURUSD and USDCHF, so that whichever way the price jumps one side profits, is straddling. A single position, or positions in one direction, taken on your own view of the release is not.

Trading Rules, sections 11.1 and 11.2. Each straddle is detected and referred to the risk desk, never penalised automatically.

Futures plans One Step funded, Instant

Futures plans. On the futures plans news trading is permitted during the One Step evaluation. On a funded futures account (One Step funded and Instant) no trade may be opened or closed from two minutes before to two minutes after a high-impact release; a position opened before the window may be held through it. Profit from such a trade is removed and the loss stays. The first and second violations are warnings, and the third is referred for compliance review. A news trading violation never ends an account automatically. The releases are those marked as high impact in the economic calendar shown in the dashboard or notified to you.

Trading Rules, section 11.4.

CFD plans: no straddling4:45 AM to 5:15 AM New YorkFunded futures: no trade opened or closed4:58 AM to 5:02 AMEurozone CPI 5:00 AM
−20 min−15−2+2+15+20 min
A single position taken on your own view, before or after the release, is fine on every CFD plan. On a funded futures account a position opened before the two-minute window may be held through it.

Section 11 of the Trading Rules News trading, explained

QuestionsShort answers

Eurozone CPI: questions

What time is Eurozone CPI released?

Usually at 5:00 AM New York time: 11:00 Luxembourg time: 09:00 UTC in summer, 10:00 UTC in winter. The flash estimate at the end of the month or the first working days of the next; the final figure about two weeks later.

How often is Eurozone CPI released?

Monthly: a flash estimate, then the final figure. The flash estimate at the end of the month or the first working days of the next; the final figure about two weeks later. The exact dates are set by the Eurostat (the euro area's Harmonised Index of Consumer Prices; the dashboard's economic calendar shows the coming week.

Can I trade Eurozone CPI on a WhitePips account?

On every CFD plan, yes: news trading is allowed in the evaluation and once funded. What is not allowed is straddling, opening both directions (or offsetting positions on correlated instruments) within 15 minutes either side of a Red or Amber release to catch the spike; the risk desk reviews it. On a funded futures account, no trade may be opened or closed from two minutes before to two minutes after a high-impact release.

Which markets move most on Eurozone CPI?

On the WhitePips platforms: EURUSD, EURGBP, EURJPY, EURCHF, GER30, and on futures 6E.

What is the difference between the flash and final euro area CPI?

The flash estimate comes days after the month ends, from early data; the final figure two weeks later adds the full detail. Markets move on the flash.

CFDs and futuresNo time limit

Put the numbers to work

Every plan, size and price, with the rules printed before you buy. News trading is allowed on every CFD plan.

See the plansTrading calculator