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United States Inflation Rate (CPI) Statistics – 1948 to August 2022

Key information from the Consumer Price Index: Current rate, historical data, and how the US compares to other countries.

Quick Summary of the latest Inflation Rate statistics

  1. The current US inflation rate is 8.3%, easing slightly compared to 8.5% for the previous month.
  2. The current rate is an increase from the year before with inflation at 5.3% in August 2021.(1)
  3. This is in part due to falling gas prices, with the gas price index having fallen by 7.7%. (4)
  4. The Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.1% in August after seasonal adjustment.(1)
  5. The CPI’s all time high inflation rate was 13.7% in 1980.(1)
  6. The CPI’s all time low inflation rate was -1% in 1950.(1)
  7. The Core Inflation Rate is up 6.30% from last month’s 5.90%.(1)
  8. The inflation rate month-over-month is 0.10%.(1)

The release date for the next inflation report is scheduled for October 13 at 8:30 a.m. ET.

ActualPreviousHighestLowestDatesUpdated
8.30%8.50%23.70%-15.80%1914 – 2022Monthly

source: U.S. Bureau of Labor Statistics

Consumer Price Index (CPI) breakdown

Food inflation

  1. The current Food inflation rate is 10.90%, a 4.81% increase from last month’s Food inflation rate of 10.40%.(1)
Jan. 22Feb. 22Mar. 22Apr. 22May 22Jun. 22Jul. 22Aug. 2212-month unadjusted
Food0.91.01.00.91.21.01.10.811.4
Food at home1.01.41.51.01.41.01.30.713.5
Food away from home0.70.40.30.60.70.90.70.98.0

source: U.S. Bureau of Labor Statistics

Energy inflation

  1. The current Energy inflation rate is 32.93%, a 20.88% decrease from last month’s Energy inflation rate of 41.62%.
    (1)
Jan. 22Feb. 22Mar. 22Apr. 22May 22Jun. 22Jul. 22Aug. 2212-month unadjusted
Energy0.93.511.0-2.73.97.5-4.6-5.023.8
Energy commodities-0.66.718.1-5.44.510.4-7.6-10.127.1
Energy services2.9-0.41.81.33.03.50.12.119.8

source: U.S. Bureau of Labor Statistics

Services inflation

  1. The current Services inflation rate is 6.25%, a 0.48% increase from last month’s Services inflation rate of 6.22%. (1)
  2. The Services inflation rate is at the highest its been since 1982.(3)

Shelter inflation

  1. The current Shelter inflation rate is 5.70%, a 1.60% increase from last month’s Services inflation rate of 5.61%. (1)
Jan. 22Feb. 22Mar. 22Apr. 22May 22Jun. 22Jul. 22Aug. 2212-month unadjusted
Shelter0.30.50.50.50.60.60.50.76.2

source: U.S. Bureau of Labor Statistics

US Inflation Rate History

Significant world events that influence supply and demand have effects on inflation.

1.Inflation rose post World War 2, and changes would impact macroeconomic events such as The Great Inflation, which lasted from 1965 until 1982. (5)

2. We’re seeing similar effects due to the Ukraine war and the COVID-19 pandemic, with inflation the highest it’s been in 40 years. (5)

National inflation rate by month and year: 2012-2022

1. The average inflation rate for the past 10 years is 2.25%.(6)

2. The Federal Reserve sets target inflation at 2% for medium term economic stability. (8)

YearJanFebMarAprMayJunJulAugSepOctNovDecAvg
20227.57.98.58.38.69.18.58.3n/an/an/an/an/a
20211.41.72.64.25.05.45.45.35.46.26.87.04.7
20202.52.31.50.30.10.61.01.31.41.21.21.41.2
20191.61.51.92.01.81.61.81.71.71.82.12.31.8
20182.12.22.42.52.82.92.92.72.32.52.21.92.4
20172.52.72.42.21.91.61.71.92.22.02.22.12.1
20161.41.00.91.11.01.00.81.11.51.61.72.11.3
2015-0.10.0-0.1-0.20.00.10.20.20.00.20.50.70.1
20141.61.11.52.02.12.12.01.71.71.71.30.81.6
20131.62.01.51.11.41.82.01.51.21.01.21.51.5
20122.92.92.72.31.71.71.41.72.02.21.81.72.1

Year on Year Comparison of US Inflation Since 2020

1. In 2020, lockdowns and the COVID-19 pandemic stunted inflation with the average inflation for 2020 being 1.23% a 0.58% decline from 2019. (7)

2. The average inflation rate for 2021 was 4.70% a 3.46% increase from 2020. (7)

3. The year on year increase from 2020 to 2021 is due to supply and demand factors like changes in spending habits, supply chain disruptions, and pandemic mitigation policies such as stimulus packages. (9)

4. 29% of households spent their stimulus packages by June 2020, with 36% putting remaining funds towards savings and 35% towards paying off debt. (10)

5. Economists point to the increase in disposable income and reduced spending as a result of the stimulus packaage have contributed to increases in US inflation for 2021 and 2022. (11)

Month on Month Comparison of US Inflation Since 2020

Average US Annual Inflation Since 1948

The average US inflation rate compares yearly average inflation rates since 1948.

1. 1950 saw the lowest recorded average of -1% (1)

2. 1980 recorded the highest at 13.7%. (1)

Calculating inflation rate

Inflation rates affect purchasing power or the value of a dollar over time. The same amount of currency may be worth less and be able to purchase fewer items compared to years before. The below formula can be used to calculate the percentage difference in inflation to measure the dollar’s buying power over time, which helps anticipate changes in the cost of living.

To calculate the inflation, get the CPI rate for the year you want to compare from the Consumer Price Index as your starting point and the CPI for the current or chosen year as your endpoint.

Subtract the starting CPI from the end CPI. Then divide by the starting CPI and multiply it by 100 to get the inflation percentage.

The formula is: (starting CPI-end CPI/starting CPI)X100

For example:

CPI for June 2010: 217.965

CPI for June 2022: 296.28

Formula: (217.965 – 296.28/217.965) x 100

Inflation = 82.034%

To calculate the effect of inflation in dollar value, you can divide the inflation rate by 100, multiply it by 1, and multiply it by $1

(82.034/100×1)+$1 = $1.82

This shows that something that cost $1 in June of 2010 now costs $1.82 in June 2022.

How the US inflation rate compares to other countries

Current US Inflation Compared to G7 Countries

1. Russia has the highest inflation rate at 15.10% (2)

2. China has the lowest inflation rate at 2.70% (2)

3. US is sitting in fifth place compared to other countries with current inflation sitting at 8.50% (2)

CountryInflation ratePrevious
United States8.509.10
China2.702.50
Euro Area8.908.60
Japan2.602.40
Germany7.507.60
United Kingdom10.109.40
India6.717.01
France6.107.01
Italy7.908.00
Canada7.608.10
South Korea6.306.00
Russia15.1015.90
Brazil10.0711.89

Inflation of the G7 Countries vs US

1. Historically, the United States and the United Kingdom tend to have the highest inflation rates of all the G7 countries. (2)

2. However since 2020 the United States has had the highest yearly inflation rate sitting at 4.7% for 2021. (2)

3. Japan has the lowest yearly inflation rate at -0.23% (2)

Average inflation by country since 2020

1. Sudan has the highest aveerage inflation of 382% (2)

2. Japan followed by China have the lowest averages compared to other countries. (2)

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