CPI Inflation Rate
Year-over-year percent change in CPI-U — the number quoted in headlines
Last updated: · Data through July 2026
CPI inflation was 3.4% year-over-year in July 2026, down slightly from 3.5% in June.
Then
2019
1.8%
Now
2026
3.4%
Change
2019–2026
+1.6 pts
↑ Rising
CPI Inflation Rate: 2015–2026
Year-over-year percent change in CPI-U — the number quoted in headlines
Source: Bureau of Labor Statistics (FRED CPIAUCSL, YoY % change)keepingupwithinflation.com
Historical Datakeepingupwithinflation.com
| Year | Rate | YoY Change |
|---|---|---|
| 2015 | 0.1% | — |
| 2016 | 1.3% | +1200.0% |
| 2017 | 2.1% | +61.5% |
| 2018 | 2.4% | +14.3% |
| 2019 | 1.8% | -25.0% |
| 2020 | 1.2% | -33.3% |
| 2021 | 4.7% | +291.7% |
| 2022 | 8.0% | +70.2% |
| 2023 | 4.1% | -48.8% |
| 2024 | 3.0% | -26.8% |
| 2025 | 2.7% | -10.0% |
| 2026 | 3.4% | +25.9% |
Analysis
This is the number that gets quoted in the news: inflation was 3.4% over the 12 months ending July 2026. It is the year-over-year percent change in the Consumer Price Index — how much higher prices are than 12 months ago, not the level of the index itself.
In 2019 the annual rate was 1.8%; it dipped to 1.2% in 2020, surged to 4.7% in 2021, and peaked at 8.0% in 2022. It then cooled to 4.1% in 2023, 3.0% in 2024, and 2.7% in 2025. The July 2026 reading of 3.4% was a touch below June’s 3.5%. The Fed's longer-run inflation goal is 2%, measured with PCE rather than CPI.
The 2015–2025 chart points are annual rates; 2026 is the latest 12-month reading through July. Updated August 15, 2026.