Inflation, consumer prices for the United States
This dataset tracks inflation, consumer prices for the united states over time.
Latest Value
2.95
Year-over-Year Change
42.53%
Date Range
1/1/1960 - 1/1/2024
Summary
The Consumer Price Index (CPI) is a key measure of inflation that tracks changes in the prices paid by consumers for a basket of goods and services in the United States.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The CPI is a widely-used economic indicator that provides insights into consumer spending power, cost of living, and overall price stability. It is a crucial metric for policymakers, analysts, and the public in understanding the broader inflationary trends within the U.S. economy.
Methodology
The U.S. Bureau of Labor Statistics collects price data from thousands of retail and service establishments to calculate the CPI.
Historical Context
The Federal Reserve closely monitors the CPI in its decisions on monetary policy and interest rates.
Key Facts
- The CPI covers about 80% of the total U.S. population.
- The CPI is published monthly by the U.S. Bureau of Labor Statistics.
- The CPI is a widely-used metric for adjusting Social Security benefits and other government payments.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) measures the average change in prices paid by consumers for a basket of goods and services in the United States.
Q: Why is this trend relevant for users or analysts?
A: The CPI is a crucial indicator of inflation and consumer purchasing power, which is closely watched by policymakers, businesses, and the public to understand the overall cost of living and make informed economic decisions.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects price data from thousands of retail and service establishments across the country to calculate the CPI.
Q: How is this trend used in economic policy?
A: The Federal Reserve closely monitors the CPI in its decisions on monetary policy and interest rates, as it is a key indicator of overall price stability and consumer spending power.
Q: Are there update delays or limitations?
A: The CPI is published monthly by the U.S. Bureau of Labor Statistics, with a typical delay of about two weeks from the end of the reference month.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for the United States (FPCPITOTLZGUSA), retrieved from FRED.