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The annual inflation rate for the United States was 3.2% for the 12 months ending February, compared to the previous rate of 3.1%, according to U.S. Labor Department data published on March 12, 2024. The next inflation update is scheduled for release on April 10 at 8:30 a.m. ET, providing information on the inflation rate for the 12 months ending March 2024.
Below is a chart and table displaying annual US inflation rates for calendar years from 2000 and 2014 through 2024. For inflation rates in prior years, please refer to historical inflation rates. If you would like to calculate the accumulated rates between two different dates, you can use the US Inflation Calculator.
*The latest inflation data (12-month based) is always displayed in the chart’s final column.
Table: Annual Inflation Rates
To find annual inflation rates for a calendar year, look to the December column. For instance, the inflation rate in 2023 was 3.4%. Meanwhile, the "Ave" column shows the average inflation rate for each year using CPI data. In 2023, the average inflation rate was 4.1%. These average rates are published by the BLS but are rarely discussed in the news media, taking a back seat to the actual rate of inflation for a given calendar year.
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Ave
2024 3.1 3.2 Avail.
April
10
2023 6.4 6.0 5.0 4.9 4.0 3.0 3.2 3.7 3.7 3.2 3.1 3.4 4.1
2022 7.5 7.9 8.5 8.3 8.6 9.1 8.5 8.3 8.2 7.7 7.1 6.5 8.0
2021 1.4 1.7 2.6 4.2 5.0 5.4 5.4 5.3 5.4 6.2 6.8 7.0 4.7
2020 2.5 2.3 1.5 0.3 0.1 0.6 1.0 1.3 1.4 1.2 1.2 1.4 1.2
Calculating Annual Inflation Rates
Annual rates of inflation are calculated using 12-month se******ns of the Consumer Price Index (CPI) which is published monthly by the Labor Department’s Bureau of Labor Statistics (BLS).
To calculate the inflation rate for a specific month, such as January 2017, subtract the CPI for that month of the previous year (in this case, January 2016) from the current CPI (January 2017). The result is the difference between the two CPIs. Divide this number by the CPI for the previous year, then multiply by 100 and add a percentage sign to obtain the inflation rate for the given month.
For example, to calculate the inflation rate for January 2017, subtract the January 2016 CPI of 236.916 from the January 2017 CPI of 242.839, which yields 5.923. Divide 5.923 by 236.916, multiply by 100, and add a % sign to obtain an inflation rate of 2.5% for January 2017.
Chart: Monthly Inflation Rates and Annual Inflation Rates in the United States
The following chart displays both the monthly inflation rates alongside the 12-month inflation rates since February 2014. The latter rates are the same as above and are not seasonally adjusted, while the former are seasonally adjusted. Both of these rates are headline figures in monthly Labor Department reports on consumer prices and inflation. For further details on the differences between seasonally adjusted and unadjusted data, please refer to "Seasonally Adjusted and Unadjusted Data."
Table: 1-Month and 12-Month Inflation Rates (2014-2024)
To present the data in a different format, the following table displays the same information as above.
Month Monthly Inflation Rate
(seasonally adjusted) Annual Inflation Rate
(not seasonally adjusted)
February 2024 0.4 3.2
January 2024 0.3 3.1
December 2023 0.2 3.4
November 2023 0.1 3.1
October 2023 0.0 3.2
September 2023 0.4 3.7
August 2023 0.6 3.7
July 2023 0.2 3.2
June 2023 0.2 3.0
May 2023 0.1 4.0
April 2023 0.4 4.9
March 2023 0.1 5.0
February 2023 0.4 6.0
January 2023 0.5 6.4
December 2022 0.1 6.5
November 2022 0.2 7.1
October 2022 0.5 7.7
September 2022 0.4 8.2
August 2022 0.2 8.3
July 2022 0.0 8.5
June 2022 1.2 9.1
May 2022 0.9 8.6
April 2022 0.4 8.3
March 2022 1.0 8.5
February 2022 0.7 7.9
January 2022 0.6 7.5
December 2021 0.8 7.0
November 2021 0.8 6.8
October 2021 0.9 6.2
September 2021 0.4 5.4
August 2021 0.4 5.3
July 2021 0.4 5.4
June 2021 0.8 5.4
May 2021 0.7 5.0
April 2021 0.7 4.2
March 2021 0.5 2.6
February 2021 0.4 1.7