Annual inflation rate in the US accelerated to 3.2% in July 2023 from 3% in June, but below forecasts of 3.3%. It marks a halt in the 12 consecutive months of declines, due to base effects. A year earlier, inflation had started to fall from its peak of 9.1%. In July 2023, energy cost fell 12.5%, less than a 16.7% drop in June, with prices declining at a smaller pace for fuel oil (-26.5% vs -36.6%), gasoline (-19.9% vs -26.5%) and utility gas service (-13.7% vs -18.6%). Also, cost of apparel (3.2% vs 3.1%), and transportation services (9% vs 8.2%) increased more. On the other hand, electricity prices rose 3%, below 5.4% in June and inflation slowed for food (4.9% vs 5.7%), shelter (7.7% vs 7.8%) and new vehicles (3.5% vs 4.1%). The cost of medical services was down 1.5% (vs -0.8%) and prices of used cars and trucks declined 5.6% (vs -5.2%). Meanwhile, core inflation which excludes food and energy eased to 4.7% from 4.8% in June, below expectations of 4.8%. source: U.S. Bureau of Labor Statistics

Inflation Rate in the United States averaged 3.30 percent from 1914 until 2023, reaching an all time high of 23.70 percent in June of 1920 and a record low of -15.80 percent in June of 1921. This page provides - United States Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. United States Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Inflation Rate in the United States is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Inflation Rate is projected to trend around 2.50 percent in 2024 and 2.40 percent in 2025, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
Width
Height
 Preview

United States Inflation Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-12 12:30 PM Jun 3% 4% 3.1% 3.2%
2023-08-10 12:30 PM Jul 3.2% 3% 3.3% 3.1%
2023-09-13 12:30 PM Aug 3.2% 3.4%


Related Last Previous Unit Reference
Inflation Rate 3.20 3.00 percent Jul 2023
Inflation Rate MoM 0.20 0.20 percent Jul 2023
Consumer Price Index CPI 305.69 305.11 points Jul 2023
Core Inflation Rate 4.70 4.80 percent Jul 2023
Core Consumer Prices 308.80 308.31 points Jul 2023
Producer Prices Change 0.80 0.20 percent Jul 2023
Export Prices 147.90 146.90 points Jul 2023
Import Prices 140.00 139.50 points Jul 2023
Food Inflation 4.90 5.70 percent Jul 2023
Services Inflation 5.70 5.74 Percent Jul 2023
Rent Inflation 7.69 7.83 percent Jul 2023
CPI seasonally adjusted 304.35 303.84 percent Jul 2023
Energy Inflation -12.47 -16.74 Percent Jul 2023
CPI Trimmed-Mean 4.79 5.02 percent Jul 2023
CPI Median 6.09 6.44 percent Jul 2023
Inflation Expectations 3.50 3.80 percent Jul 2023
PCE Price Index 127.18 126.97 points Jun 2023

United States Inflation Rate
In the United States, unadjusted Consumer Price Index for All Urban Consumers is based on the prices of a market basket of: Food (14% of total weight); Energy (8%); Commodities Less Food & Energy Commodities (21%) and Services Less Energy Services (57%). The last category is divided by: Shelter (32%), Medical Care Services (7%) and Transportation Services (6%).
Actual Previous Highest Lowest Dates Unit Frequency
3.20 3.00 23.70 -15.80 1914 - 2023 percent Monthly
NSA

News Stream
US Inflation Rate Lower than Expected
Annual inflation rate in the US accelerated to 3.2% in July 2023 from 3% in June, but below forecasts of 3.3%. It marks a halt in the 12 consecutive months of declines, due to base effects. A year earlier, inflation had started to fall from its peak of 9.1%. In July 2023, energy cost fell 12.5%, less than a 16.7% drop in June, with prices declining at a smaller pace for fuel oil (-26.5% vs -36.6%), gasoline (-19.9% vs -26.5%) and utility gas service (-13.7% vs -18.6%). Also, cost of apparel (3.2% vs 3.1%), and transportation services (9% vs 8.2%) increased more. On the other hand, electricity prices rose 3%, below 5.4% in June and inflation slowed for food (4.9% vs 5.7%), shelter (7.7% vs 7.8%) and new vehicles (3.5% vs 4.1%). The cost of medical services was down 1.5% (vs -0.8%) and prices of used cars and trucks declined 5.6% (vs -5.2%). Meanwhile, core inflation which excludes food and energy eased to 4.7% from 4.8% in June, below expectations of 4.8%.
2023-08-10
US Inflation Rate Seen Rising in July
Annual inflation rate in the US likely accelerated to 3.3% in July 2023 from 3% in June, marking a halt in the 12 consecutive months of declines, due to base effects. A year earlier, inflation had started to decelerate from its peak of 9.1% in June 2022, which was the highest in over 40 years. As a result, many of the significant price surges experienced in 2022, particularly in the energy sector, have already been rolled off. Compared to the previous month, the CPI is anticipated to rise 0.2%, mirroring the increase seen in June. Meanwhile, core inflation which excludes food and energy is seen steady at 4.8% and the monthly rate is also expected to remain at 0.2%, the smallest back-to-back gains in 2-1/2 years.
2023-08-10
US Inflation Rate Falls More than Expected
The annual inflation rate in the US slowed to 3% in June of 2023, the lowest since March of 2021 and compared to 4% in May and expectations of 3.1%. The slowdown is partly due to a high base effect from last year when a surge in energy and food prices pushed the headline inflation rate to 1981-highs of 9.1%. Energy cost slumped 16.7% (vs -11.7% in May), with prices falling 36.6% for fuel oil, 26.5% for gasoline, and 18.6% for utility gas service. Electricity prices increased by 5.4%. Also, inflation slowed for food (5.7% vs 6.7% in May) and shelter (7.8% vs 8%). Smaller price increases were also recorded for new vehicles (4.1% vs 4.7%), apparel (3.1% vs 3.5%), and transportation services (8.2% vs 10.2%). The cost of medical services was down 0.8% and prices of used cars and trucks declined 5.2%. The core inflation rate dropped to 4.8%, the lowest since October of 2021.
2023-07-12