Annual inflation rate in the US accelerated to 5% in May of 2021 from 4.2% in April and above market forecasts of 4.7%. It is the highest reading since August of 2008 amid low base effects from last year when the coronavirus pandemic hit the economy hard, rising consumer demand as the economy reopens, soaring commodity prices, supply constraints and higher wages as companies grapple with a labour shortage. Biggest price increases were recorded for gasoline (56.2%), used cars and trucks (29.7%), utility gas service (13.5%), transportation services (11.2%) and apparel (5.6%). Shelter costs were up 2.2% and food also went up 2.2%. source: U.S. Bureau of Labor Statistics
Inflation Rate in the United States averaged 3.23 percent from 1914 until 2021, 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 June of 2021.
Inflation Rate in the United States is expected to be 5.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in the United States to stand at 2.20 in 12 months time. In the long-term, the United States Inflation Rate is projected to trend around 1.60 percent in 2022 and 1.90 percent in 2023, according to our econometric models.