Inflation rates by country and year

-0.4%3.1%6.6%10.1%13.5%
-0.4%3.1%6.6%10.1%13.5%
19601.5%
19923.0%
20242.9%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2024Inflation Rate2.9%

Behind the curve

Turning points in United States

  1. 1973↑ Upward pressure

    The first oil crisis — Wikipedia (opens in a new tab)

    The 1973 oil embargo sharply raised energy and production costs in an economy that was already running warm. Inflation climbed into 1974, contributing to a period of stagflation.

    U.S. Bureau of Labor Statistics · Consumer Price Index
  2. 1979↑ Upward pressure

    The second oil crisis and Volcker disinflation — Wikipedia (opens in a new tab)

    A second oil-price surge and loose monetary conditions pushed inflation to its post-war peak around 1980. The Federal Reserve's subsequent tightening under Paul Volcker brought inflation down over the following years.

    U.S. Bureau of Labor Statistics · Consumer Price Index
  3. 2009↓ Downward pressure

    The Great Recession — Wikipedia (opens in a new tab)

    The financial crisis and deep recession collapsed demand, and falling energy prices pushed annual inflation briefly negative in 2009.

    U.S. Bureau of Labor Statistics · Consumer Price Index
  4. 2020↓ Downward pressure

    The pandemic and demand shock — Wikipedia (opens in a new tab)

    Lockdowns and a plunge in energy prices dampened consumer prices in 2020, before the reopening and supply bottlenecks reversed the trend.

    U.S. Bureau of Labor Statistics · Consumer Price Index
  5. 2022↑ Upward pressure

    The post-pandemic inflation surge — Wikipedia (opens in a new tab)

    Pandemic-era stimulus, supply-chain disruptions and the effect of the Ukraine war on energy and food combined to drive U.S. inflation to its highest level in four decades in 2022.

    U.S. Bureau of Labor Statistics · Consumer Price Index

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in United States?

The annual inflation rate in United States was 2.9% in 2024, the most recent year in the World Bank dataset. That means prices rose 2.9% on average compared with the year before. Use the chart above to explore United States's full inflation history from 1960 to 2024, and to compare it with any other country.

How inflation in United States has changed

Inflation in United States peaked at 13.5% in 1980 and reached its lowest point at -0.4% in 2009. Averaged across the 65 years of available data (1960–2024), the rate has been 3.8% per year.

Frequently asked questions about inflation in United States

What is the current inflation rate in United States?

The latest available annual figure is 2.9% in 2024, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by United States's statistical office.

What was the highest inflation rate in United States?

The highest annual inflation rate on record is 13.5%, reached in 1980.

What was the lowest inflation rate in United States?

The lowest annual inflation rate on record is -0.4%, recorded in 2009.

Where does the inflation data for United States come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.