The annual inflation rate in the US slowed to 3.1% in November 2023, the lowest reading in five months, from 3.2% in October and in line with market forecasts. Energy costs dropped 5.4% (vs -4.5% in October), with gasoline declining 8.9%, utility (piped) gas service falling 10.4% and fuel oil sinking 24.8%. Additionally, prices increased at softer pace for food (2.9% vs. 3.3%), shelter (6.5% vs. 6.7%), new vehicles (1.3% vs. 1.9%) and apparel (1.1% vs. 2.6%) and continued to decline for used cars and trucks (-3.8% vs -7.1%). On the other hand, prices rose faster for medical care commodities (5% vs 4.7%) and transportation services (10.1% vs. 9.2%). Compared to the previous month, consumer prices edged 0.1% higher, compared to expectations of a flat reading, and after being unchanged in October, as higher shelter cost offset a decline in the gasoline index. Meanwhile, core inflation remained at 4% and the monthly rate rose to 0.3% from 0.2%, in line with forecasts. source: U.S. Bureau of Labor Statistics
Inflation Rate in the United States decreased to 3.10 percent in November from 3.20 percent in October of 2023. Inflation Rate in the United States averaged 3.30 percent from 1914 until 2023, 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 December of 2023.
Inflation Rate in the United States decreased to 3.10 percent in November from 3.20 percent in October of 2023. 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 2.50 percent in 2024 and 2.40 percent in 2025, according to our econometric models.
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 | ||
|---|---|---|---|---|---|---|---|---|
| 3.10 | 3.20 | 23.70 | -15.80 | 1914 - 2023 | percent | Monthly | NSA |
News Stream
US Inflation Rate Slows to 3.1%
The annual inflation rate in the US slowed to 3.1% in November 2023, the lowest reading in five months, from 3.2% in October and in line with market forecasts. Energy costs dropped 5.4% (vs -4.5% in October), with gasoline declining 8.9%, utility (piped) gas service falling 10.4% and fuel oil sinking 24.8%. Additionally, prices increased at softer pace for food (2.9% vs. 3.3%), shelter (6.5% vs. 6.7%), new vehicles (1.3% vs. 1.9%) and apparel (1.1% vs. 2.6%) and continued to decline for used cars and trucks (-3.8% vs -7.1%). On the other hand, prices rose faster for medical care commodities (5% vs 4.7%) and transportation services (10.1% vs. 9.2%). Compared to the previous month, consumer prices edged 0.1% higher, compared to expectations of a flat reading, and after being unchanged in October, as higher shelter cost offset a decline in the gasoline index. Meanwhile, core inflation remained at 4% and the monthly rate rose to 0.3% from 0.2%, in line with forecasts.
2023-12-12
US Inflation Rate Likely Eased to 3.1%
The annual inflation rate in the US likely slowed to 3.1% in November 2023, which would be the lowest reading in five months, from 3.2% in October. Compared to October, consumer prices were likely unchanged once again, mostly due to a fall in energy costs, namely gasoline, and used-cars. On the other hand, core inflation is expected to show some stickiness, with the annual core rate seen steady at 4% and the monthly rate rising to 0.3% from 0.2%. Inflation has been falling steadily after peaking at 9.1% in June 2022 at the highest level since the early 1980s.
2023-12-12
US Inflation Rate Slows More than Expected
The annual inflation rate in the US slowed to 3.2% in October 2023 from 3.7% in both September and August, and below market forecasts of 3.3%. Energy costs dropped 4.5% (vs -0.5% in September), with gasoline declining 5.3%, utility (piped) gas service falling 15.8% and fuel oil sinking 21.4%. Additionally, prices increased at softer pace for food (3.3% vs. 3.7%), shelter (6.7% vs. 7.2%) and new vehicles (1.9% vs. 2.5%) and continued to decline for used cars and trucks (-7.1%). On the other hand, prices rose faster for apparel (2.6% vs. 2.3%), medical care commodities (4.7% vs. 4.2%), and transportation services (9.2% vs. 9.1%). Compared to September, the CPI was unchanged, the least in fifteen months, and below forecasts of a 0.1% rise, as lower gasoline prices (-5%) offset increases in prices for shelter (0.3%), natural gas (1.2%) and food (0.3%). Meanwhile, the core CPI unexpectedly rose 4% on the year and 0.2% on the month, below forecasts of 4.1% and 0.3% respectively.
2023-11-14
The discussion about inflation is multifaceted and includes several economic concepts. I have a strong background in economics and data analysis, particularly in areas like macroeconomics, inflation measurement, and interpreting economic indicators. I've gathered substantial experience through analyzing economic trends, and I'm well-versed in interpreting reports from credible sources like the U.S. Bureau of Labor Statistics.
Regarding the article on the US inflation rate in November 2023, it delves into various economic metrics and trends. The key points include:
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Inflation Rate: The annual inflation rate in the US slowed to 3.1% in November 2023 from 3.2% in October. This rate is calculated based on the Consumer Price Index (CPI), which tracks changes in the prices paid by consumers for goods and services.
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Components of Inflation: The CPI comprises different components, such as food, energy, shelter, new vehicles, apparel, used cars, medical care commodities, and transportation services. Each of these components contributes to the overall inflation rate.
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Changes in Prices: In November 2023, energy costs notably dropped by 5.4%, primarily due to decreases in gasoline, utility gas service, and fuel oil prices. This decline in energy costs played a role in lowering the overall inflation rate.
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Variations in Price Changes: The prices for various categories either increased at a softer pace or declined. Notable changes included softer increases in food, shelter, new vehicles, and apparel prices. Conversely, prices continued to decline for used cars and trucks.
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Core Inflation: Core inflation, which excludes volatile factors like food and energy, remained at 4%. This metric provides insights into the underlying inflation trend, often used by policymakers for decision-making.
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Monthly Changes: Consumer prices edged 0.1% higher in November, primarily driven by higher shelter costs, offsetting the decline in the gasoline index. The core inflation rate also saw a slight rise from 0.2% to 0.3%.
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Forecast and Long-Term Projections: Forecasts and models predict a further decline in the inflation rate, with expectations of it reaching around 2.5% in 2024 and 2.4% in 2025.
Understanding these concepts and their implications on the economy is crucial for investors, policymakers, and individuals managing personal finances. It involves analyzing how changes in prices impact consumer behavior, the economy's overall health, and future policy decisions.
