The annual inflation rate in the US slowed for a fifth straight month to 7.1% in November of 2022, the lowest since December last year, and below forecasts of 7.3%. It follows a reading of 7.7% in October. Energy cost increased 13.1%, below 17.6% in October, due to gasoline (10.1% vs 17.5%), fuel oil (65.7% vs 68.5%), and electricity (13.7% vs 14.1%). A slowdown was also seen in food prices (10.6% vs 10.9%) while prices of used cars and trucks declined by 3.3% (after a 2% rise in October). On the other hand, the cost of shelter increased faster (7.1% vs 6.9%). Compared to the previous month, the CPI edged up only 0.1%, the least in three months, and also lower than forecasts of 0.3%. The shelter was by far the largest contributor rising by 0.6%, and more than offsetting a 1.6% drop in energy cost. Despite the bigger-than-anticipated slowdown, the annual inflation is set to remain more than three times the Fed's 2% target, pointing to broad price increases across the economy. source: U.S. Bureau of Labor Statistics
Inflation Rate in the United States averaged 3.29 percent from 1914 until 2022, 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 December of 2022.
Inflation Rate in the United States is expected to be 7.00 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 1.90 percent in 2023, according to our econometric models.