The annual inflation rate in the US slowed for a fourth consecutive month to 2.9% in July 2024, the lowest since March 2021, compared to 3% in June and below forecasts of 3%. Inflation eased for shelter (5.1% vs 5.2%), transportation (8.8% vs 9.4%) and apparel (0.2 vs 0.8%). Also, prices continued to decline for new vehicles (-1% vs -0.9%) and used cars and trucks (-10.9% vs -10.1%) and food inflation steadied at 2.2%. On the other hand, energy costs rose slightly more (1.1% vs 1%), mainly due to gasoline (-2.2% vs -2.5%). Compared to the previous month, the CPI increased 0.2%, rebounding from a 0.1% drop in June, and matching forecasts, as shelter cost rose 0.4%, accounting for nearly 90% of the monthly increase. Meanwhile, annual core inflation also slowed for a fourth consecutive month to 3.2%, the lowest reading since April 2021, compared to 3.3% in June, and in line with expectations. The monthly core inflation rate also edged up to 0.2% from 0.1% as expected. source: U.S. Bureau of Labor Statistics
Inflation Rate in the United States decreased to 2.90 percent in July from 3 percent in June 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 September of 2024.
Inflation Rate in the United States decreased to 2.90 percent in July from 3 percent in June of 2024. Inflation Rate in the United States is expected to be 2.80 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.