Annual inflation rate in the US accelerated for a second straight month to 3.5% in March 2024, the highest since September, compared to 3.2% in February and forecasts of 3.4%. Energy costs rose 2.1% (vs -1.9% in February), with gasoline increasing 1.3% (vs -3.9%) while utility gas service (-3.2% vs -8.8%) and fuel oil (-3.7% vs -5.4%) fell less. Also, inflation steadied for food (2.2%) and shelter (5.7%) but rose sharply for transportation (10.7% vs 9.9%) and apparel (0.4% vs 0%). On the other hand, prices declined for new vehicles (-0.1% vs 0.4%) and used cars and trucks (-2.2% vs -1.8%). Compared to the previous month, the CPI rose 0.4%, the same as in February but above forecasts of 0.3%. The index for shelter and gasoline contributed over half of the monthly increase. Meanwhile, annual core inflation was steady at 3.8%, the same as in the previous month, and above forecasts of 3.7%. The monthly rate was also steady at 0.4%, with markets expecting it would slow to 0.3%. source: U.S. Bureau of Labor Statistics

Inflation Rate in the United States increased to 3.50 percent in March from 3.20 percent in February 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 April of 2024.

Inflation Rate in the United States increased to 3.50 percent in March from 3.20 percent in February of 2024. Inflation Rate in the United States is expected to be 3.00 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.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-12 12:30 PM
Inflation Rate YoY
Feb 3.2% 3.1% 3.1% 3.2%
2024-04-10 12:30 PM
Inflation Rate YoY
Mar 3.5% 3.2% 3.4% 3.4%
2024-05-15 12:30 PM
Inflation Rate YoY
Apr

Components Last Previous Unit Reference
Core Inflation Rate YoY 3.80 3.80 percent Mar 2024
Energy Inflation 2.12 -1.90 Percent Mar 2024
Food Inflation 2.20 2.20 percent Mar 2024
Rent Inflation 5.66 5.74 percent Mar 2024
Services Inflation 5.27 4.95 Percent Mar 2024

Related Last Previous Unit Reference
CPI 312.33 310.33 points Mar 2024
Core Consumer Prices 316.70 315.57 points Mar 2024
CPI Median 4.55 4.58 percent Mar 2024
CPI s.a 312.23 311.05 points Mar 2024
CPI Trimmed-Mean 3.61 3.51 percent Mar 2024
Export Prices 149.00 148.60 points Mar 2024
Import Prices 140.40 139.80 points Mar 2024
Consumer Inflation Expectations 3.00 3.00 percent Mar 2024
Inflation Rate YoY 3.50 3.20 percent Mar 2024
Inflation Rate MoM 0.40 0.40 percent Mar 2024
PCE Price Index 122.31 121.91 points Feb 2024
PPI YoY 2.10 1.60 percent Mar 2024

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
3.50 3.20 23.70 -15.80 1914 - 2024 percent Monthly
NSA

News Stream
US Inflation Rate Above Forecasts
Annual inflation rate in the US accelerated for a second straight month to 3.5% in March 2024, the highest since September, compared to 3.2% in February and forecasts of 3.4%. Energy costs rose 2.1% (vs -1.9% in February), with gasoline increasing 1.3% (vs -3.9%) while utility gas service (-3.2% vs -8.8%) and fuel oil (-3.7% vs -5.4%) fell less. Also, inflation steadied for food (2.2%) and shelter (5.7%) but rose sharply for transportation (10.7% vs 9.9%) and apparel (0.4% vs 0%). On the other hand, prices declined for new vehicles (-0.1% vs 0.4%) and used cars and trucks (-2.2% vs -1.8%). Compared to the previous month, the CPI rose 0.4%, the same as in February but above forecasts of 0.3%. The index for shelter and gasoline contributed over half of the monthly increase. Meanwhile, annual core inflation was steady at 3.8%, the same as in the previous month, and above forecasts of 3.7%. The monthly rate was also steady at 0.4%, with markets expecting it would slow to 0.3%.
2024-04-10
US Inflation Rate Seen Rising for 2nd Month
Annual inflation rate in the US likely accelerated for a second straight month to 3.4% in March 2024 from 3.2% in February. Compared to the previous month, the CPI is expected to increase by 0.3%, slightly less than 0.4% in February. Airfares and used car prices are expected to decline, while shelter costs are anticipated to rise at a slower pace. Gasoline prices, however, are predicted to increase more rapidly from the previous month. Meanwhile, core inflation probably slowed to 3.7% annually, marking the lowest level since April 2021, down from 3.8% in February. The monthly rate is also expected to ease to 0.3% from 0.4%. The headline inflation is now well below its 1981-peak of 9.1% in June 2022, but remains above the Fed's target of 2%.
2024-04-10
US Inflation Rate Unexpectedly Rises to 3.2%
Annual inflation rate in the US unexpectedly edged up to 3.2% in February 2024, compared to 3.1% in January and above forecasts of 3.1%. Energy costs dropped much less than expected (-1.9% vs -4.6% in January), with gasoline declining 3.9% (vs -6.4%), utility gas service falling 8.8% (vs -17.8%) and fuel oil going down 5.4% (vs -14.2%). Meanwhile, prices increased at a softer pace for food (2.2% vs 2.6%), shelter (5.7% vs 6%), new vehicles (0.4% vs 0.7%), and medical care (2.9% vs 3%). Also, the cost was steady for apparel (0% vs 0.1%) and continued to decline for used cars and trucks (-1.8% vs -3.5%). In contrast, prices continued to rise sharply for transportation (9.9% vs 9.5%). Meanwhile, the monthly inflation rate rose to 0.4% from 0.3%, with prices for shelter and gasoline contributing over 60% of the increase. On the other hand, core inflation eased to 3.8% from 3.9%, compared to forecasts of 3.7%. The monthly rate remained steady at 0.4%, instead of forecasts of 0.3%.
2024-03-12