What to Look Out for in Economic Data This Week (May 11-15)

There are a number of important economic reports to watch this week, but none more anticipated than Tuesday morning's release of the Consumer Price Index (CPI). This is because the headline reading came in red-hot as energy prices remain elevated amid the ongoing conflict in the Middle East.

What's more, the inflation data will land right around when the full Senate is expected to vote on Kevin Warsh's nomination to succeed Jerome Powell as Fed chair. The full Senate is expected to vote on Wednesday, May 13.

Economic reports we're watching

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Tuesday, May 12: CPI and core CPI: Energy prices kept headline inflation higher, while core CPI was impacted by a one-off fix to shelter costs.

Read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released in the next several days. At times, we provide expanded previews and recaps for select reports.

Please check back often. This economic calendar is updated regularly. Bolded reports are those considered more noteworthy. All reporting times are in Eastern Time.

Monday (5/11)

Tuesday (5/12)

Energy prices kept headline inflation hot

A slowing labor market was the Federal Reserve's main focus in mid- to late 2025. Attention has shifted to inflation in 2026 as energy prices spike amid the ongoing conflict in the Middle East.

Since late February, when the war between the U.S., Israel and Iran began, oil prices have spiked to their highest level in four years and gas prices have jumped above $4.50 per gallon.

And it's already taking its toll on consumers' purchasing power. According to the Bureau of Labor Statistics (BLS), the Consumer Price Index (CPI) rose 0.6% from March to April and was 3.8% higher year over year, the highest annual increase since May 2023. In March, CPI was 0.9% higher month over month and up 3.3% year over year.

Energy costs had the biggest impact on the April CPI report. "The index for energy rose 3.8 percent in April, accounting for over forty percent of the monthly all items increase," wrote the BLS. Compared to the year-ago period, the energy index was up 17.8% and the gasoline index was 28.4% higher.

Food costs were also higher in April, as were those for household furnishings, airfares, personal care and clothing. The shelter index was higher, too, rising 0.6% month over month after "the BLS introduced a methodological fix to an issue caused by the federal government shutdown in late 2025," says Matt Colyar of Moody's Analytics.

"If it weren't for an unusually mild reading in health care costs, the April results would have been worse," says Kiplinger's Payne. "There will be a similar rise in energy costs for May, though shelter will return to its normal increase."

Economists were calling for headline inflation to be up 0.6% from March to April and 3.7% from the year prior.

Wednesday (5/13)

Thursday (5/14)

Friday (5/15)

Reporting schedules are provided Forex Factory and MarketWatch.

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