United States Inflation Rate

Last Release

Aug 31, 2023

Actual

3.7

Units In

3.2

Frequency

Monthly

Next Release

Oct 12, 2023

Time to Release

28 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
23.7 Jun 1920	-15.8 Jun 1921	3.3 %	1914-2023	U.S. Bureau of Labor Statistics

In the United States, unadjusted Consumer Price Index for All Urban Consumers is based on the prices of a market basket of: food (14 percent of total weight), energy (9.3 percent), commodities less food and energy commodities (19.4 percent) and services less energy services (57.3 percent). The last category is divided by: shelter (32.1 percent), medical care services (5.8 percent) and transportation services (5.5 percent).

Latest Updates

The annual inflation rate in the US accelerated for a second straight month to 3.7% in August from 3.2% in July, above market forecasts of 3.6%. Oil prices have been on the rise in the previous two months, which coupled with base effects from last year, pushed the inflation higher. In July 2023, energy cost fell 3.6%, much less than a 12.5% drop in July, with prices declining at a smaller pace for fuel oil (-14.8% vs -26.5%) and gasoline (-3.3% vs -19.9%). Also, cost of transportation services (10.3% vs 9%) increased more. On the other hand, inflation slowed for electricity prices (2.1% vs 3%), food (4.3% vs 4.9%), shelter (7.3% vs 7.7%), new vehicles (2.9% vs 3.5%) and apparel (3.1% vs 3.2%). Also, faster decreases were seen in cost for utility gas service (-16.5% vs -13.7%), medical services (-2.1% vs -1.5%) and used cars and trucks (-6.6% vs -5.6%). Core inflation rate however, which excludes food and energy, slowed for the fifth month to 4.3%, in line with market expectations.