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.

West Virginia and Kansas had the lowest cost of living across all U.S. states, with composite costs being half of those found in Hawaii. This was according to a composite index that compares prices for various goods and services on a state-by-state basis. In West Virginia, the cost of living index amounted to **** — well below the national benchmark of 100. Virginia— which had an index value of ***** — was only slightly above that benchmark. Expensive places to live included Hawaii, Massachusetts, and California. Housing costs in the U.S. Housing is usually the highest expense in a household’s budget. In 2023, the average house sold for approximately ******* U.S. dollars, but house prices in the Northeast and West regions were significantly higher. Conversely, the South had some of the least expensive housing. In West Virginia, Mississippi, and Louisiana, the median price of the typical single-family home was less than ******* U.S. dollars. That makes living expenses in these states significantly lower than in states such as Hawaii and California, where housing is much pricier. What other expenses affect the cost of living? Utility costs such as electricity, natural gas, water, and internet also influence the cost of living. In Alaska, Hawaii, and Connecticut, the average monthly utility cost exceeded *** U.S. dollars. That was because of the significantly higher prices for electricity and natural gas in these states.

Annual indexes for major components and special aggregates of the Consumer Price Index (CPI), for Canada, provinces, Whitehorse, Yellowknife and Iqaluit. Data are presented for the last five years. The base year for the index is 2002=100.

Monthly indexes and percentage changes for all components and special aggregates of the Consumer Price Index (CPI), not seasonally adjusted, for Canada, provinces, Whitehorse, Yellowknife and Iqaluit. Data are presented for the corresponding month of the previous year, the previous month and the current month. The base year for the index is 2002=100.

In March 2025, inflation amounted to 2.4 percent, while wages grew by 4.3 percent. The inflation rate has not exceeded the rate of wage growth since January 2023. Inflation in 2022 The high rates of inflation in 2022 meant that the real terms value of American wages took a hit. Many Americans report feelings of concern over the economy and a worsening of their financial situation. The inflation situation in the United States is one that was experienced globally in 2022, mainly due to COVID-19 related supply chain constraints and disruption due to the Russian invasion of Ukraine. The monthly inflation rate for the U.S. reached a 40-year high in June 2022 at 9.1 percent, and annual inflation for 2022 reached eight percent. Without appropriate wage increases, Americans will continue to see a decline in their purchasing power. Wages in the U.S. Despite the level of wage growth reaching 6.7 percent in the summer of 2022, it has not been enough to curb the impact of even higher inflation rates. The federally mandated minimum wage in the United States has not increased since 2009, meaning that individuals working minimum wage jobs have taken a real terms pay cut for the last twelve years. There are discrepancies between states - the minimum wage in California can be as high as 15.50 U.S. dollars per hour, while a business in Oklahoma may be as low as two U.S. dollars per hour. However, even the higher wage rates in states like California and Washington may be lacking - one analysis found that if minimum wage had kept up with productivity, the minimum hourly wage in the U.S. should have been 22.88 dollars per hour in 2021. Additionally, the impact of decreased purchasing power due to inflation will impact different parts of society in different ways with stark contrast in average wages due to both gender and race.

Monthly indexes for major components and special aggregates of the Consumer Price Index (CPI), not seasonally adjusted, for Canada, provinces, Whitehorse, Yellowknife and Iqaluit. Data are presented for the current month and previous four months. The base year for the index is 2002=100.

Consumer Price Index, monthly, not seasonally adjusted (1 2 3) Frequency: Monthly Table: 18-10-0004-01 (formerly CANSIM 326-0020) Release date: 2022-09-20 Geography: Canada, Province or territory, Census subdivision, Census metropolitan area, Census metropolitan area part

Footnotes: 1. The Consumer Price Index (CPI) is not a cost-of-living index. The objective behind a cost-of-living index is to measure changes in expenditures necessary for consumers to maintain a constant standard of living. The idea is that consumers would normally switch between products as the price relationship of goods changes. If, for example, consumers get the same satisfaction from drinking tea as they do from coffee, then it is possible to substitute tea for coffee if the price of tea falls relative to the price of coffee. The cheaper of the interchangeable products may be chosen. We could compute a cost-of-living index for an individual if we had complete information about that person's taste and spending habits. To do this for a large number of people, let alone the total population of Canada, is impossible. For this reason, regularly published price indexes are based on the fixed-basket concept rather than the cost-of-living concept. 2. This table replaces table 18-10-0008-01 which was archived with the release of April 2007 data. 3. From April 2020 to November 2021, and from January 2022 to February 2022, certain sub-indexes and components thereof were imputed using special approaches in either one, or more months. The affected indexes include child care services; housekeeping services; air transportation; personal care services; recreational services; travel tours; spectator entertainment; use of recreational facilities and services; beer served in licensed establishments; wine served in licensed establishments, and liquor served in licensed establishments. The details of these treatments from April 2020 to March 2021 are provided in technical supplements available through the Prices Analytical Series. Starting in April 2021 4. The goods and services that make up the Consumer Price Index (CPI) are organized according to a hierarchical structure with the all-items CPI" as the top level. Eight major components of goods and services make up the "all-items CPI". They are: "food” 5. Food includes non-alcoholic beverages. 6. Part of the increase first recorded in the shelter index for Yellowknife for December 2004 inadvertently reflected rent increases that actually occurred earlier. As a result, the change in the shelter index was overstated in December 2004, and was understated in the previous two years. The shelter index series for Yellowknife has been corrected from December 2002. In addition, the Yellowknife All-items Consumer Price Index (CPI) and some Yellowknife special aggregate index series have also changed. Data for Canada and all other provinces and territories were not affected. 7. The special aggregate energy" includes: "electricity” 8. Goods are physical or tangible commodities usually classified according to their life span into non-durable goods, semi-durable goods and durable goods. Non-durable goods are those goods that can be used up entirely in less than a year, assuming normal usage. For example, fresh food products, disposable cameras and gasoline are non-durable goods. Semi-durable goods are those goods that may last less than 12 months or greater than 12 months depending on the purpose to which they are put. For example, clothing, footwear and household textiles are semi-durable goods. Durable goods are those goods which may be used repeatedly or continuously over more than a year, assuming normal usage. For example, cars, audio and video equipment and furniture are durable goods. 9. A service in the Consumer Price Index (CPI) is characterized by valuable work performed by an individual or organization on behalf of a consumer, for example, car tune-ups, haircuts and city public transportation. Transactions classified as a service may include the cost of goods by their nature. Examples include food in restaurant food services and materials in clothing repair services.

How to cite: Statistics Canada Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401

Of the most populous cities in the U.S., San Jose, California had the highest annual income requirement at ******* U.S. dollars annually for homeowners to have an affordable and comfortable life in 2024. This can be compared to Houston, Texas, where homeowners needed an annual income of ****** U.S. dollars in 2024.

Canada CA: Exports: USD: All Services: Travel data was reported at 45.441 USD bn in 2023. This records an increase from the previous number of 31.981 USD bn for 2022. Canada CA: Exports: USD: All Services: Travel data is updated yearly, averaging 6.795 USD bn from Dec 1961 (Median) to 2023, with 63 observations. The data reached an all-time high of 45.441 USD bn in 2023 and a record low of 458.000 USD mn in 1961. Canada CA: Exports: USD: All Services: Travel data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.TISP: Trade in Services: Exports: USD: by Services: OECD Member: Annual. This component of EBOPS 2010 differs from most internationally traded services in that it is transactor-based. Unlike most services in EBOPS, travel is not a specific product; rather, it encompasses a range of goods and services consumed by non-residents in the economy that they visit. Travel is defined as covering goods and services for own use or to be given away, acquired from an economy, by non-residents during visits to that economy. It covers stays of any length, provided that there is no change in residence.Travel includes goods and services acquired by persons undertaking study or medical care while outside the territory of residence. It also includes acquisitions of goods and services by seasonal, border and other short-term workers in the economy of employment.The goods and services may be purchased by the persons concerned or by another party on their behalf; for example, business travel may be paid for or reimbursed by an employer; tuition and living costs of a student may be paid by a overnment; and health costs may be paid or reimbursed by a Government or insurer. Goods and services supplied by the producer without charge are also included, for example, tuition and board provided by a university.The most common goods and services entered under travel are accommodation, food, beverages and transport purchased within the economy visited (all of which are consumed in the supplying economy). Gifts, souvenirs and other articles that are purchased for own use and that may be taken out of the economies visited are also included.In line with the accrual principle, goods and services acquired during the visit, but paid for earlier or later, are included in travel. Goods and services may be acquired by being paid for by the person going abroad, paid for on his or her behalf, provided without a quid pro quo (for example, free room and board received: in such a case, there is also a corresponding transfer) or produced on own account (as in some cases of ownership of real estate and time-share accommodation).The goods and services for own use or to be given away, purchased by or provided to the non-resident while on the trip that would otherwise be classified under another item, such as postal services, telecommunications, and transport, are included in travel. This includes transport within a particular economy being visited where such transport is provided by carriers resident in that economy but excludes the international carriage of persons, which is covered in passenger services under transport services. Also excluded are goods purchased for resale in the resident's own economy or in a third economy. The acquisition of valuables (such as jewellery and expensive art), consumer durable goods (such as cars and electronic goods) and other consumer purchases for own use that is in excess of customs thresholds, are excluded. These goods are included in general merchandise.Travel excludes the acquisition of goods and services by diplomats, consular staff, military personnel, etc., and their dependants in the territory in which they are posted (included in Government goods and services n.i.e.).

Canada CA: Trade Balance: USD: All Services: Travel data was reported at 6.175 USD bn in 2023. This records an increase from the previous number of 3.354 USD bn for 2022. Canada CA: Trade Balance: USD: All Services: Travel data is updated yearly, averaging -1.142 USD bn from Dec 1961 (Median) to 2023, with 63 observations. The data reached an all-time high of 7.267 USD bn in 2021 and a record low of -17.024 USD bn in 2012. Canada CA: Trade Balance: USD: All Services: Travel data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.TISP: Trade in Services: Trade Balance: USD: by Services: OECD Member: Annual. This component of EBOPS 2010 differs from most internationally traded services in that it is transactor-based. Unlike most services in EBOPS, travel is not a specific product; rather, it encompasses a range of goods and services consumed by non-residents in the economy that they visit. Travel is defined as covering goods and services for own use or to be given away, acquired from an economy, by non-residents during visits to that economy. It covers stays of any length, provided that there is no change in residence.Travel includes goods and services acquired by persons undertaking study or medical care while outside the territory of residence. It also includes acquisitions of goods and services by seasonal, border and other short-term workers in the economy of employment.The goods and services may be purchased by the persons concerned or by another party on their behalf; for example, business travel may be paid for or reimbursed by an employer; tuition and living costs of a student may be paid by a overnment; and health costs may be paid or reimbursed by a Government or insurer. Goods and services supplied by the producer without charge are also included, for example, tuition and board provided by a university.The most common goods and services entered under travel are accommodation, food, beverages and transport purchased within the economy visited (all of which are consumed in the supplying economy). Gifts, souvenirs and other articles that are purchased for own use and that may be taken out of the economies visited are also included.In line with the accrual principle, goods and services acquired during the visit, but paid for earlier or later, are included in travel. Goods and services may be acquired by being paid for by the person going abroad, paid for on his or her behalf, provided without a quid pro quo (for example, free room and board received: in such a case, there is also a corresponding transfer) or produced on own account (as in some cases of ownership of real estate and time-share accommodation).The goods and services for own use or to be given away, purchased by or provided to the non-resident while on the trip that would otherwise be classified under another item, such as postal services, telecommunications, and transport, are included in travel. This includes transport within a particular economy being visited where such transport is provided by carriers resident in that economy but excludes the international carriage of persons, which is covered in passenger services under transport services. Also excluded are goods purchased for resale in the resident's own economy or in a third economy. The acquisition of valuables (such as jewellery and expensive art), consumer durable goods (such as cars and electronic goods) and other consumer purchases for own use that is in excess of customs thresholds, are excluded. These goods are included in general merchandise.Travel excludes the acquisition of goods and services by diplomats, consular staff, military personnel, etc., and their dependants in the territory in which they are posted (included in Government goods and services n.i.e.).

Canada CA: Imports: All Services: Travel data was reported at 53,006.000 CAD mn in 2023. This records an increase from the previous number of 37,259.000 CAD mn for 2022. Canada CA: Imports: All Services: Travel data is updated yearly, averaging 13,816.000 CAD mn from Dec 1961 (Median) to 2023, with 63 observations. The data reached an all-time high of 53,006.000 CAD mn in 2023 and a record low of 504.000 CAD mn in 1963. Canada CA: Imports: All Services: Travel data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.TISP: Trade in Services: Imports: by Services: OECD Member: Annual. This component of EBOPS 2010 differs from most internationally traded services in that it is transactor-based. Unlike most services in EBOPS, travel is not a specific product; rather, it encompasses a range of goods and services consumed by non-residents in the economy that they visit. Travel is defined as covering goods and services for own use or to be given away, acquired from an economy, by non-residents during visits to that economy. It covers stays of any length, provided that there is no change in residence.Travel includes goods and services acquired by persons undertaking study or medical care while outside the territory of residence. It also includes acquisitions of goods and services by seasonal, border and other short-term workers in the economy of employment.The goods and services may be purchased by the persons concerned or by another party on their behalf; for example, business travel may be paid for or reimbursed by an employer; tuition and living costs of a student may be paid by a overnment; and health costs may be paid or reimbursed by a Government or insurer. Goods and services supplied by the producer without charge are also included, for example, tuition and board provided by a university.The most common goods and services entered under travel are accommodation, food, beverages and transport purchased within the economy visited (all of which are consumed in the supplying economy). Gifts, souvenirs and other articles that are purchased for own use and that may be taken out of the economies visited are also included.In line with the accrual principle, goods and services acquired during the visit, but paid for earlier or later, are included in travel. Goods and services may be acquired by being paid for by the person going abroad, paid for on his or her behalf, provided without a quid pro quo (for example, free room and board received: in such a case, there is also a corresponding transfer) or produced on own account (as in some cases of ownership of real estate and time-share accommodation).The goods and services for own use or to be given away, purchased by or provided to the non-resident while on the trip that would otherwise be classified under another item, such as postal services, telecommunications, and transport, are included in travel. This includes transport within a particular economy being visited where such transport is provided by carriers resident in that economy but excludes the international carriage of persons, which is covered in passenger services under transport services. Also excluded are goods purchased for resale in the resident's own economy or in a third economy. The acquisition of valuables (such as jewellery and expensive art), consumer durable goods (such as cars and electronic goods) and other consumer purchases for own use that is in excess of customs thresholds, are excluded. These goods are included in general merchandise.Travel excludes the acquisition of goods and services by diplomats, consular staff, military personnel, etc., and their dependants in the territory in which they are posted (included in Government goods and services n.i.e.).

Monthly average retail prices for food, household supplies, personal care items, cigarettes and gasoline. Prices are presented for the current month and previous four months. Prices are in Canadian current dollars.

In 2024, the finance, real estate, insurance, rental, and leasing industry added the most value to the GDP of the United States. In that year, this industry added 6.2 trillion U.S. dollars to the national GDP. Gross Domestic Product Gross domestic product is a measure of how much a country produces in a certain amount of time. Countries with a high GDP tend to have large economies, for example, the United States. However, GDP does not take into consideration the cost of living and inflation rates, so it is not a good measure of the standard of living. GDP per capita at purchasing power parity is thought to be more reflective of living conditions within a particular country. U.S. GDP California added the largest amount of value to the real GDP of the U.S. in 2022. California was followed by Texas and New York. In California, the professional and business services industry was the most valuable to GDP in 2022. In New York, the finance, insurance, real estate, rental, and leasing industry added the most value to the state GDP. While the business sector added the highest value to the U.S. real GDP in 2021, it was the information industry that had the biggest percentage change in value added to the GDP between 2010 and 2021.

Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2024, at 92,341 U.S. dollars, followed closely by Massachusetts. Mississippi had the lowest per-capita real GDP, at 41,603 U.S. dollars. While not a state, the District of Columbia had a per capita GDP of more than 210,780 U.S. dollars. What is real GDP? A country’s real GDP is a measure that shows the value of the goods and services produced by an economy and is adjusted for inflation. The real GDP of a country helps economists to see the health of a country’s economy and its standard of living. Downturns in GDP growth can indicate financial difficulties, such as the financial crisis of 2008 and 2009, when the U.S. GDP decreased by 2.5 percent. The COVID-19 pandemic had a significant impact on U.S. GDP, shrinking the economy 2.8 percent. The U.S. economy rebounded in 2021, however, growing by nearly six percent. Why real GDP per capita matters Real GDP per capita takes the GDP of a country, state, or metropolitan area and divides it by the number of people in that area. Some argue that per-capita GDP is more important than the GDP of a country, as it is a good indicator of whether or not the country’s population is getting wealthier, thus increasing the standard of living in that area. The best measure of standard of living when comparing across countries is thought to be GDP per capita at purchasing power parity (PPP) which uses the prices of specific goods to compare the absolute purchasing power of a countries currency.

The gross domestic product (GDP) of California was about 4.1 trillion U.S. dollars in 2024, meaning that it contributed the most out of any state to the country’s GDP in that year. In contrast, Vermont had the lowest GDP in the United States, with 45.71 billion U.S. dollars. What is GDP? Gross domestic product, or GDP, is the total monetary value of all goods and services produced by an economy within a certain time period. GDP is used by economists to determine the economic health of an area, as well as to determine the size of the economy. GDP can be determined for countries, states and provinces, and metropolitan areas. While GDP is a good measure of the absolute size of a country's economy and economic activity, it does account for many other factors, making it a poor indicator for measuring the cost or standard of living in a country, or for making cross-country comparisons. GDP of the United States The United States has the largest gross domestic product in the world as of 2023, with China, Japan, Germany, and India rounding out the top five. The GDP of the United States has almost quadrupled since 1990, when it was about 5.9 trillion U.S. dollars, to about 25.46 trillion U.S. dollars in 2022.