The annual inflation rate in the US rose for a 3rd consecutive month to 2.9% in December 2024 from 2.7% in November, in line with market expectations. This year-end rise is partly driven by low base effects from last year, particularly for energy. Energy costs declined much less (-0.5% vs -3.2% in November), mainly due to gasoline (-3.4% vs -8.1%), fuel oil (-13.1% vs -19.5%) and natural gas (4.9% vs 1.8%). Also, inflation accelerated for food (2.5% vs 2.4%) and transportation (7.3% vs 7.1%) and prices fell less for new vehicles (-0.4% vs -0.7%). On the other hand, inflation slowed for shelter (4.6%, the lowest since January 2022, vs 4.7%) and prices continued to decline for used cars and trucks (-3.3% vs -3.4%). On a monthly basis, the CPI rose by 0.4%, the most since March, and above forecasts of 0.3%. The index for energy rose 2.6%, accounting for over 40% of the monthly increase, mainly due to gasoline (4.4%). Also, food prices went up 0.3% and shelter also edged up 0.3%. source: U.S. Bureau of Labor Statistics
Inflation Rate in the United States increased to 2.90 percent in December from 2.70 percent in November of 2024. Inflation Rate in the United States averaged 3.30 percent from 1914 until 2024, 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 January of 2025.
Inflation Rate in the United States increased to 2.90 percent in December from 2.70 percent in November of 2024. Inflation Rate in the United States is expected to be 2.90 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 2.40 percent in 2026 and 2.30 percent in 2027, according to our econometric models.