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%. source: U.S. Bureau of Labor Statistics
Inflation Rate in the United States decreased to 3.30 percent in May from 3.40 percent in April 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 June of 2024.
Inflation Rate in the United States decreased to 3.30 percent in May from 3.40 percent in April of 2024. Inflation Rate in the United States is expected to be 3.10 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.
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 | ||
|---|---|---|---|---|---|---|---|---|
| 3.30 | 3.40 | 23.70 | -15.80 | 1914 - 2024 | percent | Monthly | NSA |
News Stream
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
US Headline Inflation Seen Unchanged, Core to Slow
The annual inflation rate in the US is expected to hold steady at 3.4% in May 2024, matching April's rate, after a period of earlier acceleration this year. Compared to the previous month, the CPI is projected to increase 0.1%, which would mark the lowest reading in seven months, compared to 0.3% in April. Gasoline prices likely stabilized in May, while used car prices probably increased and shelter costs remained high. Meanwhile, core inflation likely slowed to 3.5% annually, which would be the lowest reading since April 2021, down from 3.6% in April. The monthly core inflation rate is expected to remain at 0.3%.
2024-06-12
US Inflation Rate Slows as Expected
Annual inflation rate in the US eased to 3.4% in April 2024 from 3.5% in March which was the highest reading since September, in line with market forecasts. Inflation steadied for food (2.2%) and slowed for shelter (5.5% vs 5.7%) while prices continued to decline for new vehicles (-0.4% vs -0.1%) and used cars and trucks (-6.9% vs -2.2%). On the other hand, energy costs rose slightly more (2.6% vs 2.1% in March), with gasoline increasing 1.1% (vs 1.3%) while a decline was seen for utility gas service (-1.9% vs -3.2%) and fuel oil (-0.8% vs -3.7%). Also, cost rose faster for transportation (11.2% vs 10.7%) and apparel (1.3% vs 0.4%). Compared to the previous month, the CPI increased by 0.3%, below 0.4% in each of the previous two months and forecasts of 0.4%. Meanwhile, core inflation slowed to 3.6% annually, be the lowest reading since April 2021, down from 3.8% in both March and February. The monthly rate also eased to 0.3% from 0.4%, both in line with forecasts.
2024-05-15
