United States Inflation Rate

Last Release

Nov 30, 2024

Actual

2.7

Units In

2.6

Frequency

Monthly

Next Release

Jan 15, 2025

Time to Release

1 Months 2 Days 13 Hours

Highest	Lowest	Average	Date Range	Source
23.7 Jun 1920	-15.8 Jun 1921	3.3 %	1914-2024	U.S. Bureau of Labor Statistics

In the United States, unadjusted Consumer Price Index for All Urban Consumers is based on the prices of a market basket of: food (14 percent of total weight), energy (9.3 percent), commodities less food and energy commodities (19.4 percent) and services less energy services (57.3 percent). The last category is divided by: shelter (32.1 percent), medical care services (5.8 percent) and transportation services (5.5 percent).

Latest Updates

The annual inflation rate in the US rose for a 2nd consecutive month to 2.7% in November 2024 from 2.6% in October, in line with expectations. The rise is partly influenced by low base effects from last year. Energy costs declined less (-3.2% vs -4.9% in October), mainly due to gasoline (-8.1% vs -12.2%) and fuel oil (-19.5% vs -20.8%) while natural gas prices rose 1.8%, compared to 2%. Also, inflation accelerated for food (2.4% vs 2.1%) and prices fell much less for new vehicles (-0.7% vs -1.3%). On the other hand, inflation slowed for shelter (4.7% vs 4.9%) and transportation (7.1% vs 8.2%) and prices continued to decline for used cars and trucks (-3.4%, the same as in October). On a monthly basis, the CPI rose by 0.3%, the most since April, slightly above October's 0.2%, and also matching forecasts. The index for shelter rose 0.3%, accounting for nearly 40% of increase. The core CPI rose 3.3% on the year and 0.3% on the month, the same as in October and in line with forecasts.