US inflation rate by year
Consumer price inflation for every year since 1914. The most recent full year, 2024, saw prices rise 2.9% on an annual-average basis; in the 12 months to September 2026, prices rose 3.7%. The highest year on record was 1917 (+17.8%) and the lowest 1921 (-10.9%).
Inflation rate, last 30 years
| Year | Annual average | Dec to Dec | Avg CPI | |
|---|---|---|---|---|
| 2024 | +2.9% | +2.9% | 313.689 | $100 then → |
| 2023 | +4.1% | +3.4% | 304.702 | $100 then → |
| 2022 | +8.0% | +6.5% | 292.655 | $100 then → |
| 2021 | +4.7% | +7.0% | 270.970 | $100 then → |
| 2020 | +1.2% | +1.4% | 258.811 | $100 then → |
| 2019 | +1.8% | +2.3% | 255.657 | $100 then → |
| 2018 | +2.4% | +1.9% | 251.107 | $100 then → |
| 2017 | +2.1% | +2.1% | 245.120 | $100 then → |
| 2016 | +1.3% | +2.1% | 240.007 | $100 then → |
| 2015 | +0.1% | +0.7% | 237.017 | $100 then → |
| 2014 | +1.6% | +0.8% | 236.736 | $100 then → |
| 2013 | +1.5% | +1.5% | 232.957 | $100 then → |
| 2012 | +2.1% | +1.7% | 229.594 | $100 then → |
| 2011 | +3.2% | +3.0% | 224.939 | $100 then → |
| 2010 | +1.6% | +1.5% | 218.056 | $100 then → |
| 2009 | -0.4% | +2.7% | 214.537 | $100 then → |
| 2008 | +3.8% | +0.1% | 215.303 | $100 then → |
| 2007 | +2.9% | +4.1% | 207.342 | $100 then → |
| 2006 | +3.2% | +2.5% | 201.592 | $100 then → |
| 2005 | +3.4% | +3.4% | 195.292 | $100 then → |
| 2004 | +2.7% | +3.3% | 188.883 | $100 then → |
| 2003 | +2.3% | +1.9% | 183.958 | $100 then → |
| 2002 | +1.6% | +2.4% | 179.875 | $100 then → |
| 2001 | +2.8% | +1.6% | 177.067 | $100 then → |
| 2000 | +3.4% | +3.4% | 172.200 | $100 then → |
| 1999 | +2.2% | +2.7% | 166.575 | $100 then → |
| 1998 | +1.6% | +1.6% | 163.008 | $100 then → |
| 1997 | +2.3% | +1.7% | 160.517 | $100 then → |
| 1996 | +2.9% | +3.3% | 156.850 | $100 then → |
| 1995 | +2.8% | +2.5% | 152.383 | $100 then → |
| 1994 | +2.6% | +2.7% | 148.225 | $100 then → |
| 1993 | +3.0% | +2.7% | 144.458 | $100 then → |
| 1992 | +3.0% | +2.9% | 140.317 | $100 then → |
| 1991 | +4.2% | +3.1% | 136.192 | $100 then → |
| 1990 | +5.4% | +6.1% | 130.658 | $100 then → |
| 1989 | +4.8% | +4.6% | 123.967 | $100 then → |
| 1988 | +4.1% | +4.4% | 118.258 | $100 then → |
| 1987 | +3.7% | +4.4% | 113.625 | $100 then → |
| 1986 | +1.9% | +1.1% | 109.608 | $100 then → |
| 1985 | +3.5% | +3.8% | 107.567 | $100 then → |
| 1984 | +4.3% | +3.9% | 103.883 | $100 then → |
| 1983 | +3.2% | +3.8% | 99.600 | $100 then → |
| 1982 | +6.1% | +3.8% | 96.500 | $100 then → |
| 1981 | +10.3% | +8.9% | 90.925 | $100 then → |
| 1980 | +13.5% | +12.5% | 82.408 | $100 then → |
| 1979 | +11.3% | +13.3% | 72.575 | $100 then → |
| 1978 | +7.6% | +9.0% | 65.233 | $100 then → |
| 1977 | +6.5% | +6.7% | 60.608 | $100 then → |
| 1976 | +5.7% | +4.9% | 56.908 | $100 then → |
| 1975 | +9.1% | +6.9% | 53.817 | $100 then → |
| 1974 | +11.1% | +12.3% | 49.308 | $100 then → |
| 1973 | +6.2% | +8.7% | 44.400 | $100 then → |
| 1972 | +3.3% | +3.4% | 41.817 | $100 then → |
| 1971 | +4.3% | +3.3% | 40.492 | $100 then → |
| 1970 | +5.8% | +5.6% | 38.825 | $100 then → |
| 1969 | +5.5% | +6.2% | 36.683 | $100 then → |
| 1968 | +4.3% | +4.7% | 34.783 | $100 then → |
| 1967 | +2.8% | +3.0% | 33.358 | $100 then → |
| 1966 | +3.0% | +3.5% | 32.458 | $100 then → |
| 1965 | +1.6% | +1.9% | 31.508 | $100 then → |
| 1964 | +1.3% | +1.0% | 31.017 | $100 then → |
| 1963 | +1.2% | +1.6% | 30.625 | $100 then → |
| 1962 | +1.2% | +1.3% | 30.250 | $100 then → |
| 1961 | +1.1% | +0.7% | 29.892 | $100 then → |
| 1960 | +1.5% | +1.4% | 29.575 | $100 then → |
| 1959 | +1.0% | +1.7% | 29.150 | $100 then → |
| 1958 | +2.7% | +1.8% | 28.858 | $100 then → |
| 1957 | +3.3% | +2.9% | 28.092 | $100 then → |
| 1956 | +1.5% | +3.0% | 27.183 | $100 then → |
| 1955 | -0.3% | +0.4% | 26.775 | $100 then → |
| 1954 | +0.3% | -0.7% | 26.850 | $100 then → |
| 1953 | +0.8% | +0.7% | 26.767 | $100 then → |
| 1952 | +2.3% | +0.8% | 26.550 | $100 then → |
| 1951 | +7.9% | +6.0% | 25.958 | $100 then → |
| 1950 | +1.1% | +5.9% | 24.067 | $100 then → |
| 1949 | -1.0% | -2.1% | 23.808 | $100 then → |
| 1948 | +7.7% | +3.0% | 24.042 | $100 then → |
| 1947 | +14.4% | +8.8% | 22.325 | $100 then → |
| 1946 | +8.5% | +18.1% | 19.517 | $100 then → |
| 1945 | +2.3% | +2.2% | 17.992 | $100 then → |
| 1944 | +1.6% | +2.3% | 17.592 | $100 then → |
| 1943 | +6.0% | +3.0% | 17.308 | $100 then → |
| 1942 | +10.9% | +9.0% | 16.333 | $100 then → |
| 1941 | +5.1% | +9.9% | 14.725 | $100 then → |
| 1940 | +0.7% | +0.7% | 14.008 | $100 then → |
| 1939 | -1.3% | +0.0% | 13.908 | $100 then → |
| 1938 | -2.0% | -2.8% | 14.092 | $100 then → |
| 1937 | +3.7% | +2.9% | 14.383 | $100 then → |
| 1936 | +1.0% | +1.4% | 13.867 | $100 then → |
| 1935 | +2.6% | +3.0% | 13.725 | $100 then → |
| 1934 | +3.5% | +1.5% | 13.383 | $100 then → |
| 1933 | -5.2% | +0.8% | 12.933 | $100 then → |
| 1932 | -10.3% | -10.3% | 13.642 | $100 then → |
| 1931 | -8.9% | -9.3% | 15.208 | $100 then → |
| 1930 | -2.7% | -6.4% | 16.700 | $100 then → |
| 1929 | +0.0% | +0.6% | 17.158 | $100 then → |
| 1928 | -1.2% | -1.2% | 17.158 | $100 then → |
| 1927 | -1.9% | -2.3% | 17.358 | $100 then → |
| 1926 | +0.9% | -1.1% | 17.700 | $100 then → |
| 1925 | +2.4% | +3.5% | 17.542 | $100 then → |
| 1924 | +0.4% | +0.0% | 17.125 | $100 then → |
| 1923 | +1.8% | +2.4% | 17.050 | $100 then → |
| 1922 | -6.2% | -2.3% | 16.750 | $100 then → |
| 1921 | -10.9% | -10.8% | 17.850 | $100 then → |
| 1920 | +15.6% | +2.6% | 20.042 | $100 then → |
| 1919 | +15.2% | +14.5% | 17.333 | $100 then → |
| 1918 | +17.3% | +20.4% | 15.042 | $100 then → |
| 1917 | +17.8% | +18.1% | 12.825 | $100 then → |
| 1916 | +7.7% | +12.6% | 10.883 | $100 then → |
| 1915 | +0.9% | +2.0% | 10.108 | $100 then → |
| 1914 | +1.4% | +1.0% | 10.017 | $100 then → |
Annual average = change in the average CPI-U of the year from the year before; Dec to Dec = change from December to December. Years with a month BLS did not publish (October 2025) are left out of the annual-average column.
Inflation rate since 1914
Frequently asked questions
What is the average US inflation rate?
Since 1914, US consumer prices have risen at an average of roughly 3% a year, with long stretches far from that: deflation in the early 1920s and 1930s, double-digit inflation in 1917-20, 1947, 1974 and 1979-81, and low, stable inflation from the 1990s until 2021.
What inflation rate does the Federal Reserve target?
The Fed aims for 2% inflation over time, measured by the personal consumption expenditures (PCE) price index rather than the CPI. CPI inflation tends to run a few tenths of a point higher than PCE inflation.
Which year had the highest inflation?
In this data, 1917 had the highest annual-average inflation, at 17.8%.
Source: U.S. Bureau of Labor Statistics, CPI-U, U.S. city average, not seasonally adjusted, via FRED.