The annual inflation rate in the US fell for a third straight month to 3% in June 2024, the lowest since June 2023, compared to 3.3% in May and below forecasts of 3.1%. Energy costs rose at a slower pace (1% vs 3.7%), due to gasoline (-2.5% vs 2.2%) and fuel oil (0.8% vs 3.6%) while utility gas service (3.7% vs 0.2%) accelerated. Inflation also eased for shelter (5.2% vs 5.4%) and transportation (9.4% vs 10.5%) and steadied for apparel (0.8%). In addition, prices continued to decline for new vehicles (-0.9% vs -0.8%) and used cars and trucks (-10.1% vs -9.3%). On the other hand, food inflation edged up (2.2% vs 2.1%). Compared to May, the CPI unexpectedly declined 0.1%, the first fall since May 2020, following a flat reading and compared to expectations of a 0.1% rise. Meanwhile, annual core inflation also slowed to 3.3%, a fresh low since April 2021, from 3.4% in May and forecasts it would remain steady. The monthly rate edged down to 0.1% from 0.2%, below expectations of 0.2%. source: U.S. Bureau of Labor Statistics

Inflation Rate in the United States decreased to 3 percent in June from 3.30 percent in May 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 August of 2024.

Inflation Rate in the United States decreased to 3 percent in June from 3.30 percent in May of 2024. Inflation Rate in the United States is expected to be 2.80 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 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-06-12 12:30 PM
Inflation Rate YoY
May 3.3% 3.4% 3.4% 3.4%
2024-07-11 12:30 PM
Inflation Rate YoY
Jun 3% 3.3% 3.1% 3.1%
2024-08-14 12:30 PM
Inflation Rate YoY
Jul 3% 2.9% 3.0%

Components Last Previous Unit Reference
Core Inflation Rate YoY 3.30 3.40 percent Jun 2024
Energy Inflation 1.00 3.70 Percent Jun 2024
Food Inflation 2.20 2.10 percent Jun 2024
Rent Inflation 5.20 5.40 percent Jun 2024
Services Inflation 5.00 5.20 Percent Jun 2024

Related Last Previous Unit Reference
CPI 314.18 314.07 points Jun 2024
Core Consumer Prices 318.35 318.14 points Jun 2024
CPI Median 4.15 4.32 percent Jun 2024
CPI s.a 313.05 313.23 points Jun 2024
CPI Trimmed-Mean 3.34 3.42 percent Jun 2024
Export Prices 148.00 148.70 points Jun 2024
Import Prices 141.60 141.60 points Jun 2024
Consumer Inflation Expectations 3.00 3.00 percent Jul 2024
Inflation Rate YoY 3.00 3.30 percent Jun 2024
Inflation Rate MoM -0.10 0.00 percent Jun 2024
PCE Price Index 123.24 123.15 points Jun 2024
PPI YoY 2.20 2.70 percent Jul 2024

United States Inflation Rate
In the United States, unadjusted Consumer Price Index for All Urban Consumers is based on the prices of a market basket of: Food (14% of total weight); Energy (8%); Commodities Less Food & Energy Commodities (21%) and Services Less Energy Services (57%). The last category is divided by: Shelter (32%), Medical Care Services (7%) and Transportation Services (6%).
Actual Previous Highest Lowest Dates Unit Frequency
3.00 3.30 23.70 -15.80 1914 - 2024 percent Monthly
NSA


News Stream
US Inflation Rate Lowest in a Year
The annual inflation rate in the US fell for a third straight month to 3% in June 2024, the lowest since June 2023, compared to 3.3% in May and below forecasts of 3.1%. Energy costs rose at a slower pace (1% vs 3.7%), due to gasoline (-2.5% vs 2.2%) and fuel oil (0.8% vs 3.6%) while utility gas service (3.7% vs 0.2%) accelerated. Inflation also eased for shelter (5.2% vs 5.4%) and transportation (9.4% vs 10.5%) and steadied for apparel (0.8%). In addition, prices continued to decline for new vehicles (-0.9% vs -0.8%) and used cars and trucks (-10.1% vs -9.3%). On the other hand, food inflation edged up (2.2% vs 2.1%). Compared to May, the CPI unexpectedly declined 0.1%, the first fall since May 2020, following a flat reading and compared to expectations of a 0.1% rise. Meanwhile, annual core inflation also slowed to 3.3%, a fresh low since April 2021, from 3.4% in May and forecasts it would remain steady. The monthly rate edged down to 0.1% from 0.2%, below expectations of 0.2%.
2024-07-11
US Inflation Rate Seen Slowing for a 3rd Month
The annual inflation rate in the US is expected to fall for a third straight month to 3.1% in June 2024, the lowest since January, compared to 3.3% in May. The decrease would indicate the disinflation process is under way, following a brief uptick in the first quarter. Compared to the previous month, the CPI is projected to increase 0.1%, after a flat reading in May. Gasoline and used car prices likely fell and shelter costs moderated while food prices probably ticked up. Meanwhile, core inflation is projected to remain steady at 3.4%, matching the rate from May and maintaining the lows seen in 2021. The monthly core inflation rate is anticipated to stay at 0.2%.
2024-07-11
US Inflation Rate Slows to 3.3%
The annual inflation rate in the US unexpectedly slowed to 3.3% in May 2024, the lowest in three months, compared to 3.4% in April and forecasts of 3.4%. Inflation eased for food (2.1% vs 2.2%), shelter (5.4% vs 5.5%), transportation (10.5% vs 11.2%) and apparel (0.8% vs 1.3%) and prices continued to decline for new vehicles (-0.8% vs -0.4%) and used cars and trucks (-9.3% vs -6.9%). On the other hand, energy costs rose more (3.7% vs 2.6%), namely gasoline (2.2% vs 1.1%), utility gas service (0.2% vs -1.9%) and fuel oil (3.6% vs -0.8%). Compared to the previous month, the CPI was unchanged, the least since July 2022, compared to forecasts of a 0.1% increase and after a 0.3% rise in April. A decline in gasoline prices was offset by higher shelter costs. Meanwhile, core inflation slowed to 3.4% annually, the lowest rate since April 2021 and below consensus of 3.5%. The monthly core inflation rate also fell to 0.2% from 0.3%, better than forecasts of 0.3%.
2024-06-12