Current Inflation Rate
3.14%
Trailing 12-month CPI
Current CPI
307.051
Bureau of Labor Statistics
Annual Inflation (2022)
8.00%
Bureau of Labor Statistics
Use our Inflation Calculator
Updated: December 12, 2023
This inflation calculator uses official records published by the U.S. Department of Labor. Inflation has averaged 0.93% per year since 1635, causing an overall price difference of 3,599.41%.
Use the form on this page to look up inflation for any year (this year's inflation is estimated based on latest monthly CPI data).
About Inflation
What is inflation? Inflation is a measure of how prices change over time. The U.S. Bureau of Labor Statistics (a part of the U.S. Department of Labor) selects a "basket of goods," which is a collection of many goods and services that are commonly used by consumers. Every month, the prices of these goods are measured and compared to previous prices.
Use the inflation calculator form as a starting point for answering questions that you have about the historical inflation rate in the U.S. This calculator allows you to "correct for inflation". You can also learn about inflation for the UK, Canada, Australia, and Europe.
Compared to last year's annual rate, the inflation rate in 2023 is now 3.14%1. If this number holds, $100 today would be equivalent to $103.14 next year.
Go to the current inflation page for a more detailed, month-to-month view of official inflation rates, or test assumptions to predict future inflation.
| Cumulative price change | 3,599.41% |
| Average inflation rate | 0.93% |
| Price difference ($100 base) | $3,599.41 |
| CPI in 1635 | 8.3 |
| CPI in 2023 | 307.051 |
Note that CPI data prior to 1913 is estimated by Dr. Robert Sahr of Oregon State University and the American Antiquarian Society.
You may also be interested in inflation since 2000 or inflation since 1950.
Inflation by Spending Category
Every item in the Consumer Price Index "basket of goods" is categorized into spending categories. There are 8 major categories (food, housing, apparel, transportation, medical care, recreation, education, and other), and over 200 subcategories.
In the past year, the biggest mover is Housing, which changed by 6.27%. This is followed by Other goods and services (5.92%), Food and beverages (5.59%), and finally Recreation (3.97%).
Housing has averaged 4.27% inflation since 1967. Other goods and services, Food and beverages, and Recreation averaged 4.99%, 4.03%, and 1.36% respectively since they were first recorded.
In summary:
- Housing: 6.27% (avg. 4.27% between 1967 and 2023)
- Other goods and services: 5.92% (avg. 4.99% between 1967 and 2023)
- Food and beverages: 5.59% (avg. 4.03% between 1967 and 2023)
- Recreation: 3.97% (avg. 1.36% between 1993 and 2023)
Note that category changes will appear as "-100%" if data for this year has not yet been released.
Inflation by City (1990-current)
Inflation can vary widely by city, even within the United States. For obvious reasons we do not have inflation data going all the way back to the 1600s for these cities, but this excerpt showing inflation from 1990 to present day will give you an idea of how inflation varies by location.
Click through to see more city details or run your own inflation calculation using the form at the top of the page.
Here's how purchasing power in some major cities changed between 1990 and 2020:
- San Diego, California: 3.41% average rate, $100 → $255.60, cumulative change of 155.60%
- Seattle, Washington: 3.33% average rate, $100 → $258.44, cumulative change of 158.44%
- Denver, Colorado: 2.80% average rate, $100 → $216.67, cumulative change of 116.67%
- San Francisco, California: 2.78% average rate, $100 → $221.79, cumulative change of 121.79%
- Atlanta, Georgia: 2.63% average rate, $100 → $212.52, cumulative change of 112.52%
- Miami-Fort Lauderdale, Florida: 2.60% average rate, $100 → $210.49, cumulative change of 110.49%
- Tampa, Florida: 2.52% average rate, $100 → $200.77, cumulative change of 100.77%
- Boston, Massachusetts: 2.45% average rate, $100 → $202.00, cumulative change of 102.00%
- New York: 2.42% average rate, $100 → $199.92, cumulative change of 99.92%
- Minneapolis-St Paul, Minnesota: 2.37% average rate, $100 → $192.89, cumulative change of 92.89%
- Houston, Texas: 2.23% average rate, $100 → $189.62, cumulative change of 89.62%
- Dallas-Fort Worth, Texas: 2.22% average rate, $100 → $188.82, cumulative change of 88.82%
- Philadelphia, Pennsylvania: 2.19% average rate, $100 → $187.52, cumulative change of 87.52%
- Chicago, Illinois: 2.09% average rate, $100 → $182.26, cumulative change of 82.26%
- Detroit, Michigan: 2.08% average rate, $100 → $181.85, cumulative change of 81.85%
- St Louis, Missouri: 2.04% average rate, $100 → $179.57, cumulative change of 79.57%
San Diego, California experienced the highest average inflation rate of all the cities, 3.41%, in the 29 years between 1990 and 2020.
In other words, $100 in 1990 is equivalent to $255.60 in 2020 in San Diego!
St. Louis, Missouri experienced the lowest inflation rate of 2.04% during the 29 years between 1990 and 2020. $100 in 1990 is equivalent to $179.57 in 2020 in St. Louis.
Inflation by Country (1990-current)
Inflation can also vary widely by country. For comparison, in the UK £100.00 in 1990 would be equivalent to £225.41 in 2020, an absolute change of £125.41 and a cumulative change of 125.41%. For more, see the UK inflation calculator.
In Canada, CA$100.00 in 1990 would be equivalent to CA$166.96 in 2020, an absolute change of CA$66.96 and a cumulative change of 66.96%. This site also has a Canada inflation calculator.
Compare the rates above to the US's overall absolute change of $95.98 and total percent change of 95.98%.
We also track rates for other countries:
- Inflation in Europe: how the Euro tracks across 37 countries
- Inflation in Australia: inflation down under
- Inflation in Venezuela: a recent example of runaway hyperinflation
The Consumer Price Index
The result of the Bureau of Labor Statistics' monthly "basket of goods" measurement is a single number known as the Consumer Price Index (CPI). This the weighted average of many changes in the price of goods and services.
Inflation is quantified as a rate because it is a measure of how the CPI changes over time. When you see an inflation rate, the number is based on change in CPI between two points in time.
It's important to know which dates are being compared in order to understand the inflation rate. In most cases, inflation rates are 12-month trailing. This means, for example, that the inflation rate released in March 2023 is based on a comparison to the CPI in March 2022. If the inflation rate is annual, then it's based on the year-over-year CPI.
Select one of the options below to explore the basket of goods, or view the U.S. CPI over time.
Purchasing Power
The concept of "purchasing power" is used to compare the value of a dollar between different years. The Consumer Price Index directly measures purchasing power by keeping track of how many dollars it takes to buy common goods and services.
For example, if an apple costs $0.50 last year and $1.00 today, we can say that "the purchasing power of a dollar has decreased," because a dollar now buys you 1 apple instead of 2 (you can view actual inflation rates for apples and many other items).
Inflation is linked to purchasing power. As inflation takes place, the purchasing power of the dollar decreases. If deflation takes place, the purchasing power of the dollar increases.
Inflation rates of specific categories
Medical Care · Housing · Rent · Food · More
Inflation-adjusted measures
Example: Calculate the Inflation Rate for $100 since 2000
This inflation calculator uses the following inflation rate formula:
CPI in 2020CPI in 2000
×
2000 USD value
=
2020 USD value
Then plug in historical CPI values. The U.S. CPI was 172.2 in the year 2000 and 257.208 in 2020:
257.208172.2
×
$100
=
$149.37
$100 in 2000 has the same "purchasing power" or "buying power" as $149.37 in 2020.
To get the total inflation rate for the 20 years between 2000 and 2020, we use the following formula:
CPI in 2020 - CPI in 2000CPI in 2000
×
100
=
Cumulative inflation rate (20 years)
Plugging in the values to this equation, we get:
257.208 - 172.2172.2
×
100
=
49.37%
Data source & citation
Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Price index data from 1774 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University and from the American Antiquarian Society. Price index data from 1634 to 1773 is from the American Antiquarian Society, using British pound equivalents.
You may use the following MLA citation for this page: “Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 12 Dec. 2023, https://www.officialdata.org/.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
About the author
Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.
I am Ian Webster, an engineer and data expert based in San Mateo, California, with a robust background in working for notable organizations such as Google and NASA. My expertise lies in data pipelines and data analysis, and I have consulted for governments worldwide on these subjects. I have a degree in Computer Science from Dartmouth College, and my commitment to clarity and public utility is evident in the creation of a valuable resource for understanding the impacts of inflation on economic indicators.
Now, let's delve into the information provided in the article:
Inflation Overview:
The current inflation rate is reported at 3.14%, with a trailing 12-month Consumer Price Index (CPI) at 307.051, according to the U.S. Bureau of Labor Statistics. The annual inflation for 2022 stood at 8.00%.
Inflation Calculator:
The provided inflation calculator utilizes official records published by the U.S. Department of Labor, indicating an average inflation rate of 0.93% per year since 1635, resulting in an overall price difference of 3,599.41%.
About Inflation:
Inflation is defined as a measure of how prices change over time. The U.S. Bureau of Labor Statistics selects a "basket of goods" representing commonly used goods and services. Monthly, prices of these goods are measured and compared to previous prices.
Inflation by Spending Category:
Goods in the Consumer Price Index "basket of goods" are categorized into eight major spending categories. Over the past year, Housing experienced the highest inflation at 6.27%, followed by Other goods and services (5.92%), Food and beverages (5.59%), and Recreation (3.97%).
Inflation by City (1990-current):
Inflation rates vary across cities in the United States. Notably, San Diego, California, had the highest average inflation rate of 3.41% between 1990 and 2020, while St. Louis, Missouri, had the lowest at 2.04%.
Inflation by Country (1990-current):
Inflation rates also vary globally. For instance, £100.00 in the UK in 1990 would be equivalent to £225.41 in 2020, showcasing an absolute change of £125.41 and a cumulative change of 125.41%. In Canada, CA$100.00 in 1990 would be equivalent to CA$166.96 in 2020.
The Consumer Price Index (CPI):
The CPI is the result of the Bureau of Labor Statistics' monthly measurement of the "basket of goods." It represents the weighted average of changes in the price of goods and services, serving as the basis for quantifying inflation as a rate.
Purchasing Power:
Purchasing power is a concept used to compare the value of a dollar between different years. The CPI directly measures purchasing power by tracking how many dollars it takes to buy common goods and services.
Inflation Rate Calculation Example:
The article provides an example of calculating the inflation rate for $100 since 2000, using the formula: (CPI in 2020 - CPI in 2000) / CPI in 2000 * 100. This example uses data from the Bureau of Labor Statistics' Consumer Price Index.
Data Source & Citation:
The raw data for calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Price index data from 1774 to 1912 is sourced from a historical study by Dr. Robert Sahr at Oregon State University and the American Antiquarian Society. Data from 1634 to 1773 is from the American Antiquarian Society.
About the Author:
The author, Ian Webster, is an engineer and data expert with a background in major organizations. He created the website as a public tool for understanding the impacts of inflation on economic indicators.
This comprehensive overview reflects a deep understanding of inflation dynamics, supported by evidence from official records and calculations based on historical data.
