About This Statistic
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. In July 2017, prices increased by 1.7 percent compared to July 2016.
A projection of the annual U.S. inflation rate can be accessed hereand 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 1.6 percent in 2014. 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. The monthly inflation rate for goods and services in the United States stood at 2.1 percent in June 2014 and increased to 2 percent in July 2014, each value is rate is compared to the respective month in 2013.
According to the data published by the International Monetary Fund, the U.S. Consumer Price Index (CPI) was about 232.96 in 2013 and is forecasted to grow up to 259.31 in 2019, compared to the base period from 1982 to 1984. This indicates that prices will increase by about 10 percent between 2013 and 2019.
The monthly percentage change in the Consumer Price Index (CPI) for urban consumers in the United States increased by 0.3 percent in June 2014 and also increased by 0.1 percent in July 2014, compared to the previous month.
Compared to other countries the U.S. inflation rate is relatively low. In 2014, India for example had an inflation rate of 8.29 percent, compared to the previous year, while the inflation rate in China stood at 3 percent.
