Consumer Price Index (CPI)
The Consumer Price Index measures the average change in prices paid by urban consumers for a representative basket of goods and services. Published monthly by the Bureau of Labor Statistics, it is the most-watched inflation gauge in the world — the number behind "inflation was X% last year" headlines, Social Security COLAs, and TIPS pricing.
CPI YoY %
Next release: Sep 11, 2026
Latest reading
As of July 2026, CPI (CPI YoY %) stands at 3.3% — down from 3.5% the prior reading, 11.3 pp below the March 1980 record of 14.6%. The year-over-year rate is the headline. The Fed's comfort zone is ~2% (on PCE, which usually runs a bit cooler than CPI). Sustained readings above 4% historically force tightening cycles; deflation (below 0%) signals demand collapse. Direction and momentum matter more than any single print, and the month-over-month annualized trend leads the YoY number at turning points. Series history runs from 1947 to present.
Sources, methodology & freshnessLast updated 2026-09-04 · Open ↓Close ↑
Full history
Index & YoY %
3-month annualized %
The trailing 3-month change in CPI, annualized — where inflation is running right now. It turns months ahead of the year-over-year rate, which is held back by base effects.
Methodology & data
CPI is sourced from BLS via the Federal Reserve's FRED service (BLS via FRED (CPIAUCSL), monthly, seasonally adjusted). We pull the complete history, chart it on a monthly basis, overlay SPY for context, and generate a dated plain-English reading from the latest release — with no smoothing or adjustment beyond what the chart legend states.
Every reading is stamped with its release date, last updated 2026-09-04. Maintained and reviewed by Yuriy Matso; see our methodology for the standards every series on the site is held to.
Frequently asked questions
What is the Consumer Price Index (CPI)?
The Consumer Price Index measures the average change in prices paid by urban consumers for a representative basket of goods and services. Published monthly by the Bureau of Labor Statistics, it is the most-watched inflation gauge in the world — the number behind "inflation was X% last year" headlines, Social Security COLAs, and TIPS pricing.
How do you read CPI?
The year-over-year rate is the headline. The Fed's comfort zone is ~2% (on PCE, which usually runs a bit cooler than CPI). Sustained readings above 4% historically force tightening cycles; deflation (below 0%) signals demand collapse. Direction and momentum matter more than any single print, and the month-over-month annualized trend leads the YoY number at turning points.
Where does the CPI data come from?
BLS via FRED (CPIAUCSL), monthly, seasonally adjusted. We chart the full history and publish a dated, plain-English reading with every release; the raw series is downloadable as CSV at /data/indicators/cpi.csv.
How often is CPI updated?
CPI is a monthly series from BLS, refreshed here as soon as a new release posts to FRED.
CPI YoY %
Next release: Sep 11, 2026