U.S. inflation rate for 2023 was 4.13%, a 3.88% decline from 2022.

<ul style='margin-top:20px;'>

<li>U.S. inflation rate for 2022 was <strong>8.00%</strong>, a <strong>3.3% increase</strong> from 2021.</li>
<li>U.S. inflation rate for 2021 was <strong>4.70%</strong>, a <strong>3.46% increase</strong> from 2020.</li>
<li>U.S. inflation rate for 2020 was <strong>1.23%</strong>, a <strong>0.58% decline</strong> from 2019.</li>
</ul>Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

In economics, the inflation rate is a measure of the change in price of a basket of goods. The most common measure being the consumer price index. It is the percentage rate of change in price level over time, and also indicates the rate of decrease in the purchasing power of money. The annual rate of inflation for 2023, was 4.1 percent higher in the United States when compared to the previous year. More information on inflation and the consumer price index can be found on our dedicated topic page. Additionally, the monthly rate of inflation in the United States can be accessed here. Inflation and purchasing power Inflation is a key economic indicator, and gives economists and consumers alike a look at changes in prices in the wider economy. For example, if an average pair of socks costs 100 dollars one year and 105 dollars the following year, the inflation rate is five percent. This means the amount of goods an individual can purchase with a unit of currency has decreased. This concept is often referred to as purchasing power. The data presents the average rate of inflation in a year, whereas the monthly measure of inflation measures the change in prices compared with prices one year ago. For example, monthly inflation in the U.S. reached a peak in June 2022 at 9.1 percent. This means that prices were 9.1 percent higher than they were in June of 2021. The purchasing power is the extent to which a person has available funds to make purchases. The Big Mac Index has been published by The Economist since 1986 and exemplifies purchasing power on a global scale, allowing us to see note the differences between different countries currencies. Switzerland for example, has the most expensive Big Mac in the world, costing consumers 6.71 U.S. dollars as of July 2022, whereas a Big Mac cost 5.15 dollars in the United States, and 4.77 dollars in the Euro area. One of the most important tools in influencing the rate of inflation is interest rates. The Federal Reserve of the United States has the capacity to make changes to the federal interest rate . Changes to the rate of inflation are thought to be an imbalance between supply and demand. After COVID-19 related lockdowns came to an end there was a sudden increase in demand for goods and services with consumers having more funds than usual thanks to reduced spending during lockdown and government funded economic support. Additionally, supply-chain related bottlenecks also due to lockdowns around the world and the Russian invasion of Ukraine meant that there was a decrease in the supply of goods and services. By increasing the interest rate, the Federal Reserve aims to reduce spending, and thus bring demand back into balance with supply.

Graph and download economic data for Inflation, consumer prices for the United States (FPCPITOTLZGUSA) from 1960 to 2024 about consumer, CPI, inflation, price index, indexes, price, and USA.

The inflation rate in the United States is expected to decrease to 2.1 percent by 2029. 2022 saw a year of exceptionally high inflation, reaching eight percent for the year. The data represents U.S. city averages. The base period was 1982-84. In economics, the inflation rate is a measurement of inflation, the rate of increase of a price index (in this case: consumer price index). It is the percentage rate of change in prices level over time. The rate of decrease in the purchasing power of money is approximately equal. According to the forecast, prices will increase by 2.9 percent in 2024. The annual inflation rate for previous years can be found here and the consumer price index for all urban consumers here. The monthly inflation rate for the United States can also be accessed here. Inflation in the U.S.Inflation is a term used to describe a general rise in the price of goods and services in an economy over a given period of time. Inflation in the United States is calculated using the consumer price index (CPI). The consumer price index is a measure of change in the price level of a preselected market basket of consumer goods and services purchased by households. This forecast of U.S. inflation was prepared by the International Monetary Fund. They project that inflation will stay higher than average throughout 2023, followed by a decrease to around roughly two percent annual rise in the general level of prices until 2028. Considering the annual inflation rate in the United States in 2021, a two percent inflation rate is a very moderate projection. The 2022 spike in inflation in the United States and worldwide is due to a variety of factors that have put constraints on various aspects of the economy. These factors include COVID-19 pandemic spending and supply-chain constraints, disruptions due to the war in Ukraine, and pandemic related changes in the labor force. Although the moderate inflation of prices between two and three percent is considered normal in a modern economy, countries’ central banks try to prevent severe inflation and deflation to keep the growth of prices to a minimum. Severe inflation is considered dangerous to a country’s economy because it can rapidly diminish the population’s purchasing power and thus damage the GDP .

Inflation is generally defined as the continued increase in the average prices of goods and services in a given region. Following the extremely high global inflation experienced in the 1980s and 1990s, global inflation has been relatively stable since the turn of the millennium, usually hovering between three and five percent per year. There was a sharp increase in 2008 due to the global financial crisis now known as the Great Recession, but inflation was fairly stable throughout the 2010s, before the current inflation crisis began in 2021. Recent years Despite the economic impact of the coronavirus pandemic, the global inflation rate fell to 3.26 percent in the pandemic's first year, before rising to 4.66 percent in 2021. This increase came as the impact of supply chain delays began to take more of an effect on consumer prices, before the Russia-Ukraine war exacerbated this further. A series of compounding issues such as rising energy and food prices, fiscal instability in the wake of the pandemic, and consumer insecurity have created a new global recession, and global inflation in 2024 is estimated to have reached 5.76 percent. This is the highest annual increase in inflation since 1996. Venezuela Venezuela is the country with the highest individual inflation rate in the world, forecast at around 200 percent in 2022. While this is figure is over 100 times larger than the global average in most years, it actually marks a decrease in Venezuela's inflation rate, which had peaked at over 65,000 percent in 2018. Between 2016 and 2021, Venezuela experienced hyperinflation due to the government's excessive spending and printing of money in an attempt to curve its already-high inflation rate, and the wave of migrants that left the country resulted in one of the largest refugee crises in recent years. In addition to its economic problems, political instability and foreign sanctions pose further long-term problems for Venezuela. While hyperinflation may be coming to an end, it remains to be seen how much of an impact this will have on the economy, how living standards will change, and how many refugees may return in the coming years.

In 2023, the U.S. Consumer Price Index was 309.42, and is projected to increase to 352.27 by 2029. The base period was 1982-84. The monthly CPI for all urban consumers in the U.S. can be accessed here. After a time of high inflation, the U.S. inflation rateis projected fall to two percent by 2027. United States Consumer Price Index ForecastIt is projected that the CPI will continue to rise year over year, reaching 325.6 in 2027. The Consumer Price Index of all urban consumers in previous years was lower, and has risen every year since 1992, except in 2009, when the CPI went from 215.30 in 2008 to 214.54 in 2009. The monthly unadjusted Consumer Price Index was 296.17 for the month of August in 2022. The U.S. CPI measures changes in the price of consumer goods and services purchased by households and is thought to reflect inflation in the U.S. as well as the health of the economy. The U.S. Bureau of Labor Statistics calculates the CPI and defines it as, "a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services." The BLS records the price of thousands of goods and services month by month. They consider goods and services within eight main categories: food and beverage, housing, apparel, transportation, medical care, recreation, education, and other goods and services. They aggregate the data collected in order to compare how much it would cost a consumer to buy the same market basket of goods and services within one month or one year compared with the previous month or year. Given that the CPI is used to calculate U.S. inflation, the CPI influences the annual adjustments of many financial institutions in the United States, both private and public. Wages, social security payments, and pensions are all affected by the CPI.

United States US: Inflation:(GDP) Gross Domestic ProductDeflator data was reported at 1.799 % in 2017. This records an increase from the previous number of 1.276 % for 2016. United States US: Inflation:(GDP) Gross Domestic ProductDeflator data is updated yearly, averaging 2.379 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 9.336 % in 1981 and a record low of 0.759 % in 2009. United States US: Inflation:(GDP) Gross Domestic ProductDeflator data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; Median;

Inflation Rate in Brazil increased to 5.35 percent in June from 5.32 percent in May of 2025. This dataset provides - Brazil Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in India decreased to 2.82 percent in May from 3.16 percent in April of 2025. This dataset provides - India Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate In the Euro Area increased to 2 percent in June from 1.90 percent in May of 2025. This dataset provides the latest reported value for - Euro Area Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The average market yield on the United States Treasury's 10-year bond was **** percent during the second quarter of 2024. This rate was adjusted to reflect a constant maturity and also indexed to inflation, giving an idea of real returns for longer-term investments. The recent expected return was highest at the end of the end of the last quarter of 2024, and lowest in the second half of 2021, when it was negative.

United States CSI: Expected Inflation: Next Yr: Up by 1-2% data was reported at 29.000 % in May 2018. This stayed constant from the previous number of 29.000 % for Apr 2018. United States CSI: Expected Inflation: Next Yr: Up by 1-2% data is updated monthly, averaging 18.000 % from Jan 1978 (Median) to May 2018, with 485 observations. The data reached an all-time high of 34.000 % in Oct 2016 and a record low of 1.000 % in May 1980. United States CSI: Expected Inflation: Next Yr: Up by 1-2% data remains active status in CEIC and is reported by University of Michigan. The data is categorized under Global Database’s USA – Table US.H030: Consumer Sentiment Index: Unemployment, Interest Rates, Prices and Government Expectations. The questions were: 'During the next 12 months, do you think that prices in general will go up, or go down, or stay where they are now?' and 'By what percent do you expect prices to go up, on the average, during the next 12 months?'

Inflation Rate in Japan decreased to 3.50 percent in May from 3.60 percent in April of 2025. This dataset provides the latest reported value for - Japan Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

United States US: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data was reported at 1.799 % in 2017. This records an increase from the previous number of 1.276 % for 2016. United States US: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data is updated yearly, averaging 1.978 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 3.699 % in 1990 and a record low of 0.759 % in 2009. United States US: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.; ; World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.; ;

In May 2025, Inflation increased slightly by *** percent since May 2024. However, core inflation has held more steady, although falling slightly since May 2023.

Since 2015, the consumer price index (CPI) of food in the United States has increased every year except for 2016, when the CPI decreased by *** percent. The increase of CPI for food compared to the previous year was the highest in 2022, at *** percent.

CSI: Expected Inflation: Next 5 Yrs data was reported at 2.400 % in Jul 2018. This records a decrease from the previous number of 2.600 % for Jun 2018. CSI: Expected Inflation: Next 5 Yrs data is updated monthly, averaging 2.900 % from Feb 1979 (Median) to Jul 2018, with 382 observations. The data reached an all-time high of 9.700 % in Feb 1980 and a record low of 2.300 % in Dec 2016. CSI: Expected Inflation: Next 5 Yrs data remains active status in CEIC and is reported by University of Michigan. The data is categorized under Global Database’s USA – Table US.H030: Consumer Sentiment Index: Unemployment, Interest Rates, Prices and Government Expectations. The questions were: 'What about the outlook for prices over the next 5 to 10 years? Do you think prices will be higher, to go up, on the average, during the next 12 months?' and 'By about what percent per year do you expect prices to go up or down, on the average, during the next 5 to 10 years?'

Inflation Rate in China increased to 0.10 percent in June from -0.10 percent in May of 2025. This dataset provides - China Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Of the major developed and emerging economies, China had the lowest inflation rate at *** percent in December 2024. On the other end of the spectrum, the inflation rate in Russia stood at nearly ** percent. The country's inflation rate increased sharply after the country's President, Vladimir Putin, decided to invade Ukraine, declined somewhat in 2023, before increasing slowly again since. The rate of inflation reflects changes in the cost of a specified basket containing a representative selection of goods and services. It is derived from the consumer price index (CPI).

Graph and download economic data for Personal Consumption Expenditures: Chain-type Price Index (PCEPI) from Jan 1959 to May 2025 about chained, headline figure, PCE, consumption expenditures, consumption, personal, inflation, price index, indexes, price, and USA.