Inflation drops below 3% for first time since March 2021

12-month percentage change in the Consumer Price Index, January 2022-August 2024

Bar chart showing the inflation rate between January 2022 and August 2024.
The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The inflation rate shown here is the 12-month percentage change in the CPI rounded to the nearest tenth. Values are seasonally adjusted.
Chart: Alice Louise Kassens, Ph.D.Source: Bureau of Labor StatisticsGet the dataDownload imageCreated with Datawrapper