The Consumer Price Index in Iceland increased 0.40 percent in March of 2025 over the previous month. This dataset provides - Iceland Inflation Rate MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Volcker Shock was a period of historically high interest rates precipitated by Federal Reserve Chairperson Paul Volcker's decision to raise the central bank's key interest rate, the Fed funds effective rate, during the first three years of his term. Volcker was appointed chairperson of the Fed in August 1979 by President Jimmy Carter, as replacement for William Miller, who Carter had made his treasury secretary. Volcker was one of the most hawkish (supportive of tighter monetary policy to stem inflation) members of the Federal Reserve's committee, and quickly set about changing the course of monetary policy in the U.S. in order to quell inflation. The Volcker Shock is remembered for bringing an end to over a decade of high inflation in the United States, prompting a deep recession and high unemployment, and for spurring on debt defaults among developing countries in Latin America who had borrowed in U.S. dollars.

Monetary tightening and the recessions of the early '80s

Beginning in October 1979, Volcker's Fed tightened monetary policy by raising interest rates. This decision had the effect of depressing demand and slowing down the U.S. economy, as credit became more expensive for households and businesses. The Fed funds rate, the key overnight rate at which banks lend their excess reserves to each other, rose as high as 17.6 percent in early 1980. The rate was allowed to fall back below 10 percent following this first peak, however, due to worries that inflation was not falling fast enough, a second cycle of monetary tightening was embarked upon starting in August of 1980. The rate would reach its all-time peak in June of 1981, at 19.1 percent. The second recession sparked by these hikes was far deeper than the 1980 recession, with unemployment peaking at 10.8 percent in December 1980, the highest level since The Great Depression. This recession would drive inflation to a low point during Volcker's terms of 2.5 percent in August 1983.

The legacy of the Volcker Shock

By the end of Volcker's terms as Fed Chair, inflation was at a manageable rate of around four percent, while unemployment had fallen under six percent, as the economy grew and business confidence returned. While supporters of Volcker's actions point to these numbers as proof of the efficacy of his actions, critics have claimed that there were less harmful ways that inflation could have been brought under control. The recessions of the early 1980s are cited as accelerating deindustrialization in the U.S., as manufacturing jobs lost in 'rust belt' states such as Michigan, Ohio, and Pennsylvania never returned during the years of recovery. The Volcker Shock was also a driving factor behind the Latin American debt crises of the 1980s, as governments in the region defaulted on debts which they had incurred in U.S. dollars. Debates about the validity of using interest rate hikes to get inflation under control have recently re-emerged due to the inflationary pressures facing the U.S. following the Coronavirus pandemic and the Federal Reserve's subsequent decision to embark on a course of monetary tightening.

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.

Core consumer prices in Chile increased 3.80 percent in February of 2025 over the same month in the previous year. This dataset provides - Chile Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in the United States decreased to 2.80 percent in February from 3 percent in January of 2025. This dataset provides - United States Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the usual median hourly rate of a worker's wage in the United States was 19.24 U.S. dollars, a decrease from the previous year. Dollar value is based on 2023 U.S. dollars. In 1979, the median hourly earnings in the U.S. was 17.48 dollars.

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.

Colombia Inflation Rate: Medellin data was reported at 0.430 % in Dec 2018. This records an increase from the previous number of 0.190 % for Nov 2018. Colombia Inflation Rate: Medellin data is updated monthly, averaging 0.925 % from Jan 1979 (Median) to Dec 2018, with 480 observations. The data reached an all-time high of 4.940 % in Nov 1981 and a record low of -1.470 % in May 1986. Colombia Inflation Rate: Medellin data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.I002: Consumer Price Index: Inflation Rate.

Colombia Inflation Rate: Barranquilla data was reported at 0.190 % in Dec 2018. This records a decrease from the previous number of 0.340 % for Nov 2018. Colombia Inflation Rate: Barranquilla data is updated monthly, averaging 0.810 % from Jan 1979 (Median) to Dec 2018, with 480 observations. The data reached an all-time high of 4.790 % in Jan 1988 and a record low of -0.420 % in Aug 1983. Colombia Inflation Rate: Barranquilla data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.I002: Consumer Price Index: Inflation Rate.

In 2023, the median weekly earnings of a full-time employee in the United States of America was 1,117 U.S. dollars, an increase from 2022. Dollar value is based on constant 2023 U.S. dollars. In 1979, the median weekly earnings of a full-time employee was 949 constant 2023 U.S. dollars. Median weekly earnings not adjusted for inflation can be found here.

Graph and download economic data for Inflation, consumer prices for the United States (FPCPITOTLZGUSA) from 1960 to 2023 about consumer, CPI, inflation, price index, indexes, price, and USA.

Colombia Inflation Rate: Pasto data was reported at 0.360 % in Dec 2018. This records an increase from the previous number of 0.220 % for Nov 2018. Colombia Inflation Rate: Pasto data is updated monthly, averaging 0.790 % from Jan 1979 (Median) to Dec 2018, with 480 observations. The data reached an all-time high of 6.550 % in Sep 1990 and a record low of -1.700 % in Dec 1982. Colombia Inflation Rate: Pasto data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.I002: Consumer Price Index: Inflation Rate.

In 2023, the usual median hourly rate of a male worker's wage in the U.S. was 20.16 U.S. dollars. Dollar value is based on 2023 U.S. dollars. This is a decrease from the previous year, when men's median hourly wage was 20.52 2023 U.S. dollars. The median hourly earnings of men in the U.S. not adjusted for inflation can be found here.

In 2023, the usual median hourly rate of a female worker's wage in the United States was 18.11 U.S. dollars. Dollar value is based on 2023 U.S. dollars. This is a slight increase from the previous year, when women's median hourly wage was 17.9 constant 2023 U.S. dollars. The median hourly earnings of women in the U.S. not adjusted for inflation can be accessed here.

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 2023, the median usual weekly earnings of an African American full-time employee in the United States amounted to 920 U.S. dollars. Dollar value is based on 2023 U.S. dollars. In 1979, the median weekly earnings of African American full-time employees was 783 constant 2023 U.S. dollars. Median weekly earnings of Black and African Americans not adjusted for inflation can be found here.

Colombia Inflation Rate: Bogota data was reported at 0.270 % in Dec 2018. This records an increase from the previous number of 0.110 % for Nov 2018. Colombia Inflation Rate: Bogota data is updated monthly, averaging 0.855 % from Jan 1979 (Median) to Dec 2018, with 480 observations. The data reached an all-time high of 5.710 % in May 1985 and a record low of -1.620 % in Jul 1985. Colombia Inflation Rate: Bogota data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.I002: Consumer Price Index: Inflation Rate.

Inflation Rate in Hong Kong decreased to 1.40 percent in February from 2 percent in January of 2025. This dataset provides the latest reported value for - Hong Kong Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Producer Price Index by Industry: Truck Trailer Manufacturing: Truck Trailers and Chassis, Axle Rating 10,000 Pounds or More (PCU3362123362121) from Dec 1979 to Feb 2025 about trucks, manufacturing, PPI, industry, inflation, rate, price index, indexes, price, and USA.

The historical series 'Civil engineering; input price index 2000=100, since 1979' represents the trend of the costs of labour, material and equipment involved in projects in various areas of civil engineering (in Dutch: Grond-, Weg- en Waterbouw (GWW)) in the Netherlands. This series was created by linking independently calculated series from the past. At this moment, there are eight areas within civil engineering. These areas are based on the standard Classification Products to Activity (CPA). There is also one area of which the observation has stopped. For each area a series is calculated based on the price developments of various cost components of which the product to be realised -in this case a civil engineering project- is constructed.. The price index for the total of civil engineering is a weighted average of the eight areas. The published price indices of civil engineering are based on the average price level of the month in question. Changes in the overall costs and 'profit and risks' are not taken into account. Changes in excise duties (such as that of diesel, used in civil engineering works, from 1/1/2013) are also not reflected in the price indices. Changes compared with twelve months previously are also published for all indices.

Data available from: The various series of price indices of Civil Engineering cover different periods. Some start in 1979, while others start at the shift to 2000=100. For each series, the period for which it contains figures is given below: - Constructions for fluids: February 1979 - Road construction: February 1979 - Road maintenance: February 1979; discontinued from October 2004 - Site preparation works: February 1979 - Civil engineering works: January 2000 - Bridges and tunnels: January 2000 - Railways and underground railways: January 2000 - Constructions for water projects: January 2000 - Electrical installation works: January 2005

Status of the figures: Index figures up to 2023 are definite. Other index figures are provisional. The period the price indices remain provisional depends on the moment that the collectively negotiated (CAO) wage rates for the construction industry are definite. This period can vary from 4 to about 16 months after the period under review.

Changes as of November 29th 2024: The figures of October 2024 are added to the table.

When will new figures be published? Provisional figures for Januari 2025 will be published at the end of Februari 2025.