If the Consumer Price Index (CPI) for All Urban Consumers: All Items less Food and Energy increases by more than 2.5% in the twelve months ending December 2026 (as represented by the one-decimal place value reported by the Bureau of Labor Statistics), then the market resolves to Yes. Outcome verified from Bureau of Labor Statistics.

In the case of a delay in data caused by a federal government shutdown impacting the reliability of the Source Agency, the market’s latest Expiration Date will be extended to the sooner of the release of the Underlying or six months after the end of the government shutdown.