About This Statistic
This statistic shows the consumer price index for urban consumers in the United States of America from 1992 to 2016. In 2016, the CPI was 240. Data represents U.S. city averages.
The monthly inflation rate for the United States can be found here.
United States urban Consumer Price Index (CPI)
The U.S. Consumer Price Index is a measure of change in the price of consumer goods and services purchased by households. The CPI is defined by the United States Bureau of Labor Statistics as "a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services." To calculate the CPI, the Bureau of Labor Statistics considers the price of goods and services from various categories: housing, transportation, apparel, food & beverage, medical care, recreation, education and other/uncategorized. The CPI is a useful measure, as it indicates how the cost of urban living in the United States has changed over time, compared to a base period. CPI is also used to calculate inflation, or change in the purchasing power of money.
According to the U.S. Bureau of Labor Statistics, the U.S. urban CPI has been rising steadily since 1992. As of 2012, the CPI was 229.6, up from 179.9 ten years earlier and up from 140.3 twenty years earlier. This indicates the extent to which, compared to a base period 1982-1984 = 100, the price of various goods and services has risen. Rising food prices, for example have already affected consumers in North America. In 2012, fifty percent of survey respondents in North America reported that rising food prices had a major impact on their grocery purchases. Looking forward, the International Monetary Fund projects that the CPI will continue to rise in the next few years, reaching 251.89 in the year 2017.