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United States - monthly inflation rate in December 2020

In December 2020, prices had increased by 1.4 percent compared to December 2019. This statistic shows the 12-month percentage of change in the consumer price index, respectively the monthly inflation rate for goods and services in the United States. The data represents U.S. city averages. In economics, the inflation rate is a measure of inflation, the rate of increase of a price index (in the below case: consumer price index). It is the percentage rate of change in price level over time. The rate of decrease in the purchasing power of money is approximately equal.

A projection of the annual U.S. inflation rate can be accessed here and the actual annual inflation rate since 1990 can be accessed here.

Inflation

One of the most important economic indicators is the development of the Consumer Price Index in a country. The change in this price level of goods and services is defined as the rate of inflation.

The annual inflation rate in the United States has decreased from 3.2 percent in 2011 to 1.2 percent in 2020. This means that the purchasing power of the U.S. dollar is relatively stable again. The purchasing power is the extent to which a person has available funds to make purchases.

According to the data published by the International Monetary Fund, the U.S. Consumer Price Index (CPI) was about 255.65 in 2019 and is forecasted to grow up to 290.4 in 2025, compared to the base period from 1982 to 1984.

The monthly percentage change in the Consumer Price Index (CPI) for urban consumers in the United States increased by 0.4 percent in December 2020 compared to the previous month.

Compared to other countries the U.S. inflation rate is relatively low. In 2019, Brazil for example had an inflation rate of 3.73 percent, compared to the previous year, while the inflation rate in China stood at 2.9 percent.

Monthly 12-month inflation rate in the United States from December 2019 to December 2020

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Source

Release date

January 2021

Region

United States

Survey time period

December 2019 to December 2020

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Statistics on "Consumer Price Index and Inflation rate"

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