Inflation fell to 0.4% in August, below July’s 0.8%. August’s figure represented the lowest inflation rate since April. Looking at...
Inflation in United States
The United States experienced low and stable inflation for most of 2013-2022, averaging around 2%. This period of stability, underpinned by effective monetary policy, was disrupted significantly by the COVID-19 pandemic. In 2021-2022, inflation rates surged to their highest in decades, driven by supply chain issues, stimulus spending, and increased consumer demand. This sudden spike posed challenges for monetary policy, highlighting the delicate balance between economic stimulus and inflation control in such unprecedented economic conditions.
Consumer price inflation in the United States averaged 2.5% in the ten years to 2022, above the major economies' regional average of 2.1%. The 2022 average figure was 8.0%. For more inflation information, visit our dedicated page.
United States Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for United States from 2014 to 2023.
Source: Macrobond.
United States Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 1.8 | 1.2 | 4.7 | 8.0 | 4.1 |
| Inflation (CPI, ann. var. %, eop) | 2.3 | 1.4 | 7.0 | 6.5 | 3.4 |
| Inflation (Core, ann. var. %, aop) | 2.2 | 1.7 | 3.6 | 6.2 | 4.8 |
| Inflation (PPI, ann. var. %, aop) | 1.7 | 0.2 | 7.0 | 9.5 | 2.0 |
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects American inflation projections for the next ten years from a panel of 64 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for American inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our American inflation projections.
Want to get access to the full dataset of American inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Thailand: Inflation drops to lowest level since April in August -
Kazakhstan: Inflation drops in August Inflation ticked down to 8.4% in August from July’s 8.5%, though remaining entrenched above the Central Bank’s 5.0% medium-term target.... -
Korea: Inflation falls to lowest level since March 2021 in August Inflation fell to 2.0% in August, following July’s 2.6%. August’s reading represented the weakest inflation rate since March 2021, and... -
Indonesia: Inflation stabilizes in August Inflation remained at 2.1% in August, unchanged from July’s figure. August’s result marked the joint-lowest inflation rate since February 2022.... -
Peru: Inflation drops to lowest level since May in August Inflation inched down to 2.0% in August, following July’s 2.1%. August’s figure marked the weakest inflation rate since May, and... -
Poland: Inflation ticks up in August Inflation rose to 4.3% in August from 4.2% in July, remaining above the upper limit of the Central Bank’s inflation... -
Kenya: Inflation increases in August Inflation ticked up to 4.4% in August from July’s 4.3%. Looking at the details of the release, faster price pressures...