The annual inflation rate in the US slowed more than expected to 8.5% in July of 2022 from an over 40-year high of 9.1% hit in June, and below market forecasts of 8.7%. Energy CPI rose by 32.9%, after hitting a 42-year high of 41.6% in June, mainly due to a big slowdown in gasoline costs (44% vs 59.9%), fuel oil (75.6% vs 98.5%), and natural gas (30.5% vs 38.4%) while electricity prices accelerated (15.2%, the most since February 2006). Cost also slowed for new vehicles (10.4% vs 11.4%) and airline fares (27.7% vs 34.1%). On the other hand, inflation continued to march higher for food (10.9%, the largest increase since May of 1979, vs 10.4%); shelter (5.7% vs 5.6%); and used cars and trucks (6.6% vs 1.7%). Compared to the previous month, the CPI was unchanged, after hitting a 17-year high of 1.3% and also below forecasts of 0.2%. Core inflation was steady at 5.9%, beating expectations of 6.1%, and offering some support that inflation has finally peaked. source: U.S. Bureau of Labor Statistics
Inflation Rate in the United States averaged 3.28 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 August of 2022.
Inflation Rate in the United States is expected to be 8.50 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.