The ANSA and Apnews agencies have quoted Cardinal Renato Martino, who heads the Vatican's office for justice and peace, as saying the encyclical is expected to be released on the feast of St. Peter and Paul, a major day for the church.
Benedict has been working on Caritas in veritate (Charity in Truth) since 2007 but recently said he had held back on issuing it so that he could update it to reflect the global economic downturn.
An encyclical is the most authoritative document a pope can issue. Benedict has written two in his four years as pope: "God is Love" in 2006 and "Saved by Hope" in 2007.
h/t Brian Saint-Paul