The inflation rate in the United States declined significantly between June 2022 and September 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 September 2025, the rate dropped to **** percent, signaling 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.

The Center for Inflation Research at the Federal Reserve Bank of Cleveland and the European Central Bank (ECB) hosted the Inflation: Drivers and Dynamics 2024 conference October 24–25. It brought together top researchers from academia, central banks, and other policy institutions to present research findings related to inflation.

The European Central Bank (ECB) and the Center for Inflation Research at the Federal Reserve Bank of Cleveland hosted the Inflation: Drivers and Dynamics 2025 Conference on September 29–30 in person at the ECB. This annual conference brought together top researchers and policymakers from academia, central banks, and other policy institutions to present research findings related to inflation

The Center for Inflation Research at the Federal Reserve Bank of Cleveland and the European Central Bank (ECB) hosted the Inflation: Drivers and Dynamics 2023 Conference on August 31–September 1 in person in Frankfurt am Main, Germany.

The benchmark interest rate in the United States was last recorded at 4 percent. This dataset provides the latest reported value for - United States Fed Funds Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The benchmark interest rate in Japan was last recorded at 0.50 percent. This dataset provides - Japan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Federal Reserve Bank of Cleveland’s Center for Inflation Research and the European Central Bank (ECB) hosted the Inflation: Drivers and Dynamics Conference 2022 on September 29–30.

The interest rate set by the Federal Reserve is a crucial tool for promoting economic conditions that meet the mandate established by the United States Congress, which includes high employment, low and stable inflation, sustainable economic growth, and the moderation of long-term interest rates. The interest rates determined by the Fed directly influence the cost of credit, making financing either more accessible or more restrictive. When interest rates are low, there is a greater incentive for consumers to purchase homes through mortgages, finance automobiles, or undertake home renovations. Additionally, businesses are encouraged to invest in expanding their operations, whether by purchasing new equipment, modernizing facilities, or hiring more workers. Conversely, higher interest rates tend to curb such activity, discouraging borrowing and slowing economic expansion.

The dataset analyzed contains information on the economic conditions in the United States on a monthly basis since 1954, including the federal funds rate, which represents the percentage at which financial institutions trade reserves held at the Federal Reserve with each other in the interbank market overnight. This rate is determined by the market but is directly influenced by the Federal Reserve through open market operations to reach the established target. The Federal Open Market Committee (FOMC) meets eight times a year to determine the federal funds rate target, which has been defined within a range with upper and lower limits since December 2008.

Furthermore, real Gross Domestic Product (GDP) is calculated based on the seasonally adjusted quarterly rate of change in the economy, using chained 2009 dollars as a reference. The unemployment rate represents the seasonally adjusted percentage of the labor force that is unemployed. Meanwhile, the inflation rate is determined by the monthly change in the Consumer Price Index, excluding food and energy prices for a more stable analysis of core inflation.

The interest rate data was sourced from the Federal Reserve Bank of St. Louis' economic data portal, while GDP information was provided by the U.S. Bureau of Economic Analysis, and unemployment and inflation data were made available by the U.S. Bureau of Labor Statistics.

The analysis of this data helps to understand how economic growth, the unemployment rate, and inflation influence the Federal Reserve’s monetary policy decisions. Additionally, it allows for a study of the evolution of interest rate policies over time and raises the question of how predictable the Fed’s future decisions may be. Based on observed trends, it is possible to speculate whether the target range set in March 2017 will be maintained, lowered, or increased, considering the prevailing economic context and the challenges faced in conducting U.S. monetary policy.

The benchmark interest rate In the Euro Area was last recorded at 2.15 percent. This dataset provides - Euro Area Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in India was last recorded at 5.50 percent. This dataset provides - India Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The European Central Bank (ECB) and the Federal Reserve Bank of Cleveland’s Center for Inflation Research held the Inflation: Drivers and Dynamics Conference 2021 virtually on October 7–8.

The benchmark interest rate in Brazil was last recorded at 15 percent. This dataset provides - Brazil Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Remarks delivered to “Energy and the Economy: The Geography of Energy Flows,” the 2025 Energy Conference hosted by the Federal Reserve Banks of Kansas City and Dallas in Denver, Colorado.

The UK inflation rate was 3.8 percent in September 2025, unchanged from the previous two months, and the fastest rate of inflation since January 2024. Between September 2022 and March 2023, the UK experienced seven months of double-digit inflation, which peaked at 11.1 percent in October 2022. Due to this long period of high inflation, UK consumer prices have increased by over 20 percent in the last three years. As of the most recent month, prices were rising fastest in the education sector, at 7.5 percent, with prices increasing at the slowest rate in the clothing and footwear sector. The Cost of Living Crisis High inflation is one of the main factors behind the ongoing Cost of Living Crisis in the UK, which, despite subsiding somewhat in 2024, is still impacting households going into 2025. In December 2024, for example, 56 percent of UK households reported their cost of living was increasing compared with the previous month, up from 45 percent in July, but far lower than at the height of the crisis in 2022. After global energy prices spiraled that year, the UK's energy price cap increased substantially. The cap, which limits what suppliers can charge consumers, reached 3,549 British pounds per year in October 2022, compared with 1,277 pounds a year earlier. Along with soaring food costs, high-energy bills have hit UK households hard, especially lower income ones that spend more of their earnings on housing costs. As a result of these factors, UK households experienced their biggest fall in living standards in decades in 2022/23. Global inflation crisis causes rapid surge in prices The UK's high inflation, and cost of living crisis in 2022 had its origins in the COVID-19 pandemic. Following the initial waves of the virus, global supply chains struggled to meet the renewed demand for goods and services. Food and energy prices, which were already high, increased further in 2022. Russia's invasion of Ukraine in February 2022 brought an end to the era of cheap gas flowing to European markets from Russia. The war also disrupted global food markets, as both Russia and Ukraine are major exporters of cereal crops. As a result of these factors, inflation surged across Europe and in other parts of the world, but typically declined in 2023, and approached more usual levels by 2024.

The United States and France were the two countries where the highest share of respondents were struggling to make ends meet as of September 2022. This is shown in i survey conducted in ** countries worldwide. During 2022, rising inflation rates worldwide have seen more people struggling with the increasing costs of living. However, in China, less tha 20 percent stated that they were struggling to make ends meet.

Ten-Year TIPS Yields versus Real Yields is a part of the Inflation Expectations indicator of the Federal Reserve Bank of Cleveland.

Russia Domestic Government Bonds: Inflation Linked: 52002RMFS: Meet Demand Ratio data was reported at 53.537 % in 22 Jul 2020. This records a decrease from the previous number of 66.432 % for 17 Jun 2020. Russia Domestic Government Bonds: Inflation Linked: 52002RMFS: Meet Demand Ratio data is updated weekly, averaging 33.655 % from Jan 2019 (Median) to 22 Jul 2020, with 18 observations. The data reached an all-time high of 66.432 % in 17 Jun 2020 and a record low of 0.000 % in 17 Apr 2019. Russia Domestic Government Bonds: Inflation Linked: 52002RMFS: Meet Demand Ratio data remains active status in CEIC and is reported by Ministry of Finance of the Russian Federation. The data is categorized under Russia Premium Database’s Government and Public Finance – Table RU.FH009: OFZ Auctions' Results. [COVID-19-IMPACT]

We report average expected inflation rates over the next one through 30 years. Our estimates of expected inflation rates are calculated using a Federal Reserve Bank of Cleveland model that combines financial data and survey-based measures. Released monthly.

The benchmark interest rate in Mexico was last recorded at 7.25 percent. This dataset provides - Mexico Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in Russia was last recorded at 16.50 percent. This dataset provides the latest reported value for - Russia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.