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.

The median CPI is a measure of inflation computed by the Federal Reserve Bank of Cleveland. It ranks the components of CPI inflation and picks the one in the middle. Its construction makes it less sensitive to short-lived price fluctuations, thereby better capturing the trend in prices. Released monthly.

Inflation rates experienced by different groups of consumers within a country vary. This is because the prices of goods and services and the expenditure patterns of consumers differ. The published inflation rate is used for important decisions regarding the preservation of consumer purchasing power. These include the adjustment of social grants and minimum wages by government and the benchmarking of returns by investors when making investment decisions. It is thus vital that inflation is measured accurately to ensure the purchasing power of consumers is preserved. Current measures of inflation published by Stats SA are applicable to typical consumers and are not relevant to each individual. This resource supplements a study that seeks to provide a publicly available model that can be used by consumers to calculate their personal rate of inflation.

The Trimmed Mean PCE inflation rate produced by the Federal Reserve Bank of Dallas is an alternative measure of core inflation in the price index for personal consumption expenditures (PCE). The data series is calculated by the Dallas Fed, using data from the Bureau of Economic Analysis (BEA). Calculating the trimmed mean PCE inflation rate for a given month involves looking at the price changes for each of the individual components of personal consumption expenditures. The individual price changes are sorted in ascending order from “fell the most” to “rose the most,” and a certain fraction of the most extreme observations at both ends of the spectrum are thrown out or trimmed. The inflation rate is then calculated as a weighted average of the remaining components. The trimmed mean inflation rate is a proxy for true core PCE inflation rate. The resulting inflation measure has been shown to outperform the more conventional “excluding food and energy” measure as a gauge of core inflation.

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 .

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.

Graph and download economic data for Underlying Inflation Gauge: Prices-Only Measure (DISCONTINUED) (UIGPRICES) from Jan 1995 to Sep 2023 about inflation and USA.

We introduce a survey-based measure of uncertainty about future inflation, asking consumers for density forecasts across inflation outcomes. Consumers are willing and able to express uncertainty, showing high response rates and response patterns that are reliably related to qualitative measures of uncertainty. Heterogeneity in expressed uncertainty is associated with demographic characteristics and financial literacy, and measures of central tendency derived from density forecasts are strongly correlated with point forecasts. Furthermore, expressed uncertainty is positively related to point forecast levels and to larger revisions in point forecasts over time.

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.

Consumer price indexes (CPIs) are index numbers that measure changes in the prices of goods and services purchased or otherwise acquired by households, which households use directly, or indirectly, to satisfy their own needs and wants. In practice, most CPIs are calculated as weighted averages of the percentage price changes for a specified set, or ‘‘basket’’, of consumer products, the weights reflecting their relative importance in household consumption in some period. CPIs are widely used to index pensions and social security benefits. CPIs are also used to index other payments, such as interest payments or rents, or the prices of bonds. CPIs are also commonly used as a proxy for the general rate of inflation, even though they measure only consumer inflation. They are used by some governments or central banks to set inflation targets for purposes of monetary policy. The price data collected for CPI purposes can also be used to compile other indices, such as the price indices used to deflate household consumption expenditures in national accounts, or the purchasing power parities used to compare real levels of consumption in different countries.

In an effort to further coordinate and harmonize the collection of CPI data, the international organizations agreed that the International Monetary Fund (IMF) and the Organisation for Economic Cooperation and Development (OECD) would assume responsibility for the international collection and dissemination of national CPI data. Under this data collection initiative, countries are reporting the aggregate all items index; more detailed indexes and weights for 12 subgroups of consumption expenditure (according to the so-called COICOP-classification), and detailed metadata. These detailed data represent a valuable resource for data users throughout the world and this portal would not be possible without the ongoing cooperation of all reporting countries. In this effort, the OECD collects and validates the data for their member countries, including accession and key partner countries, whereas the IMF takes care of the collection of data for all other countries.

Brochure Theme: A0 - Analysis and studies - General Under Theme: A000.01 - Statistical studies

This repository contains the data and codes necessary to replicate the results obtained in the study “Inflation Expectations Measurement and its Effect on Inflation Dynamics in Colombia”.

What caused the recovery from the British Great Depression? A leading explanation - the “expectations channel” - suggests that a shift in expected inflation lowered real interest rates and stimulated consumption and investment. However, few studies have measured, or tested the economic consequences of, inflation expectations. In this paper, we collect high-frequency information from primary and secondary sources to measure expected inflation in the United Kingdom between the wars. A VAR model suggests that inflation expectations were an important source of the early stages of economic recovery in interwar Britain.

The inflation rate in the United States declined significantly between June 2022 and May 2025, despite rising inflationary pressures towards the end of 2024. The peak inflation rate was recorded in June 2022, at *** percent. In August 2023, the Federal Reserve's interest rate hit its highest level during the observed period, at **** percent, and remained unchanged until September 2024, when the Federal Reserve implemented its first rate cut since September 2021. By January 2025, the rate dropped to **** percent, signalling a shift in monetary policy. What is the Federal Reserve interest rate? The Federal Reserve interest rate, or the federal funds rate, is the rate at which banks and credit unions lend to and borrow from each other. It is one of the Federal Reserve's key tools for maintaining strong employment rates, stable prices, and reasonable interest rates. The rate is determined by the Federal Reserve and adjusted eight times a year, though it can be changed through emergency meetings during times of crisis. The Fed doesn't directly control the interest rate but sets a target rate. It then uses open market operations to influence rates toward this target. Ways of measuring inflation Inflation is typically measured using several methods, with the most common being the Consumer Price Index (CPI). The CPI tracks the price of a fixed basket of goods and services over time, providing a measure of the price changes consumers face. At the end of 2023, the CPI in the United States was ****** percent, up from ****** a year earlier. A more business-focused measure is the producer price index (PPI), which represents the costs of firms.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Other Personal Services in Midwest - Size Class B/C (CUUSX200SAGS) from H1 2010 to H2 2024 about midwest, urban, personal, consumer, services, CPI, inflation, price index, indexes, price, and USA.

This table contains 13 series, with data from 1949 (not all combinations necessarily have data for all years). Data are presented for the current month and previous four months. Users can select other time periods that are of interest to them.

United States Underlying Inflation Gauge: Prices Only Measure data was reported at 2.152 % in Sep 2023. This records a decrease from the previous number of 2.347 % for Aug 2023. United States Underlying Inflation Gauge: Prices Only Measure data is updated monthly, averaging 2.001 % from Jan 1995 (Median) to Sep 2023, with 345 observations. The data reached an all-time high of 5.961 % in Jun 2022 and a record low of 0.776 % in Aug 2009. United States Underlying Inflation Gauge: Prices Only Measure data remains active status in CEIC and is reported by Federal Reserve Bank of New York. The data is categorized under Global Database’s United States – Table US.I: Underlying Inflation Gauge (Discontinued).

In January 2025, prices had increased by three percent compared to January 2024 according to the 12-month percentage change in the consumer price index — the monthly inflation rate for goods and services in the United States. The data represents U.S. city averages. In economics, the inflation rate is a measure of the change in price level over time. The rate of decrease in the purchasing power of money is approximately equal. A projection of the annual U.S. inflation rate can be accessed here and the actual annual inflation rate since 1990 can be accessed here. InflationOne of the most important economic indicators is the development of the Consumer Price Index in a country. The change in this price level of goods and services is defined as the rate of inflation. The inflationary situation in the United States had been relatively severe in 2022 due to global events relating to COVID-19, supply chain restrains, and the Russian invasion of Ukraine. More information on U.S. inflation may be found on our dedicated topic page. The annual inflation rate in the United States has increased from 3.2 percent in 2011 to 8.3 percent in 2022. This means that the purchasing power of the U.S. dollar has weakened in recent years. The purchasing power is the extent to which a person has available funds to make purchases. According to the data published by the International Monetary Fund, the U.S. Consumer Price Index (CPI) was about 258.84 in 2020 and is forecasted to grow up to 325.6 by 2027, compared to the base period from 1982 to 1984. The monthly percentage change in the Consumer Price Index (CPI) for urban consumers in the United States was 0.1 percent in March 2023 compared to the previous month. In 2022, countries all around the world are experienced high levels of inflation. Although Brazil already had an inflation rate of 8.3 percent in 2021, compared to the previous year, while the inflation rate in China stood at 0.85 percent.

United States Underlying Inflation Gauge: Full Data Set Measure data was reported at 2.874 % in Sep 2023. This records a decrease from the previous number of 3.032 % for Aug 2023. United States Underlying Inflation Gauge: Full Data Set Measure data is updated monthly, averaging 2.162 % from Jan 1995 (Median) to Sep 2023, with 345 observations. The data reached an all-time high of 6.318 % in Jun 2022 and a record low of -0.648 % in Sep 2009. United States Underlying Inflation Gauge: Full Data Set Measure data remains active status in CEIC and is reported by Federal Reserve Bank of New York. The data is categorized under Global Database’s United States – Table US.I: Underlying Inflation Gauge (Discontinued).

This article describes the new RPIJ measure of Consumer Price Inflation. RPIJ is a Retail Prices Index (RPI) based measure that will use a geometric (Jevons) formula in place of one type of arithmetic formula (Carli). It is being launched in response to the National Statistician's conclusion that the RPI does not meet international standards due to the use of the Carli formula in its calculation. The accompanying Excel file includes a back series for RPIJ from 1997 to 2012.

Source agency: Office for National Statistics

Designation: National Statistics

Language: English

Alternative title: New RPIJ measure of Consumer Price Inflation