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.

Inflation Rate in the United States remained unchanged at 2.70 percent in July. This dataset provides - United States Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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.

Inflation Rate in India decreased to 1.55 percent in July from 2.10 percent in June of 2025. This dataset provides - India 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 June 2025. 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 Chained Consumer Price Index for All Urban Consumers: All Items in U.S. City Average (SUUR0000SA0) from Dec 1999 to Jul 2025 about chained, all items, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

Inflation Rate in Brazil decreased to 5.23 percent in July from 5.35 percent in June of 2025. This dataset provides - Brazil Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in Japan decreased to 3.10 percent in July from 3.30 percent in June 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 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 the Euro Area remained unchanged at 2 percent in July. 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.

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?'

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

Inflation Rate in Turkey decreased to 33.52 percent in July from 35.05 percent in June of 2025. This dataset provides the latest reported value for - Turkey Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Inflation Rate in Russia decreased to 8.80 percent in July from 9.40 percent in June of 2025. This dataset provides - Russia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in Germany remained unchanged at 2 percent in July. This dataset provides the latest reported value for - Germany Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

United States FRB Cleveland Forecast: Inflation Nowcast: Core Consumer Price Index (CPI): sa: MoM data was reported at 0.185 % in Dec 2018. This records an increase from the previous number of 0.178 % for Nov 2018. United States FRB Cleveland Forecast: Inflation Nowcast: Core Consumer Price Index (CPI): sa: MoM data is updated monthly, averaging 0.153 % from Aug 2013 (Median) to Dec 2018, with 65 observations. The data reached an all-time high of 0.193 % in Mar 2016 and a record low of 0.129 % in Mar 2014. United States FRB Cleveland Forecast: Inflation Nowcast: Core Consumer Price Index (CPI): sa: MoM data remains active status in CEIC and is reported by Federal Reserve Bank of Cleveland. The data is categorized under Global Database’s United States – Table US.I007: Consumer Price Index: Urban: sa: Forecast: Federal Reserve Bank of Cleveland.

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.