The table below displays the monthly All-Items Consumer Price Index (CPI-U) as well as the annual and monthly inflation rates for the United States in 2023. You can find upcoming CPI release dates on our schedule page. All data is sourced from the U.S. Bureau of Labor Statistics.
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| Month | CPI | Monthly Inflation Rate (%) | Yearly Inflation Rate (%) |
|---|---|---|---|
| January | 299.170 | 0.5 | 6.4 |
| February | 300.840 | 0.4 | 6.0 |
| March | 301.836 | 0.3 | 5.1 |
| April | 303.363 | 0.4 | 4.9 |
| May | 292.296 | 0.1 | 4.0 |
| June | 305.109 | 0.2 | 3.0 |
| July | 305.691 | 0.2 | 3.2 |
| August | 307.026 | 0.6 | 3.7 |
| September | 307.789 | 0.4 | 3.7 |
| October | 307.671 | 0.0 | 3.2 |
| November | 307.051 | 0.1 | 3.1 |
| December | 306.746 | 0.3 | 3.4 |
| Annual | 301.916 | 0.34 | 4.54 |
*The latest CPI will be added to this table as soon as it is released by the BLS. See our release schedule section for the exact dates.
What is the CPI?
The CPI is the Consumer Price Index and is a metric used to measure inflation. The BLS releases a new CPI every month which represents the increase or decrease in the price of goods and services in several key categories.
The CPI is one of the most often used techniques for measuring inflation all over the world, not just in the United States. Each country scrutinizes different sets of local pricing data, yet all employ a similar method by analyzing price changes across a large basket of goods. In the US, there has been contention surrounding the CPI for many years Initially, it was calculated by contrasting a market basket of goods from two periods – effectively operating as a cost of goods index (COGI). Yet, the CPI eventually developed into a cost of living index (COLI), often resulting in a lower CPI.
How are inflation rates calculated?
Monthly Consumer Price Index (CPI) data published by the Bureau of Labor Statistics is used to calculate inflation rates. The formula is as follows:
Notice something wrong with this table?
We do our best to ensure our data are accurate. However, mistakes do happen. If one of the numbers displayed above seems wrong, please contact us and we will fix it immediately.
