United States Inflation Rate

Last Release

Dec 31, 2024

Actual

2.9

Units In

2.7

Frequency

Monthly

Next Release

Feb 12, 2025

Time to Release

26 Days 15 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 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%.