Track the latest U.S. inflation readings across CPI and PCE, compare headline and core measures, and explore historical trends
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Explore U.S. consumer inflation
Consumer Price Index (CPI)
Consumer prices for all urban consumers, including food and energy.
Inflation history
Latest 12 monthly readings · Year-over-year
Annual percentage change · Dashed line: 2% reference. The Fed’s target applies to headline PCE, not separately to each index. Missing observations remain gaps. Hover anywhere, tap or use arrow keys for an exact monthly reading.
Monthly inflation readings
Latest 12 months
| Month | Annual inflation | Monthly inflation · SA | Annual-rate change |
|---|---|---|---|
| Sep 2026 | 3.7% | +0.6% | +0.34 pp |
| Aug 2026 | 3.4% | +0.4% | +0.03 pp |
| Jul 2026 | 3.4% | +0.1% | -0.17 pp |
| Jun 2026 | 3.5% | -0.4% | -0.72 pp |
| May 2026 | 4.2% | +0.5% | +0.44 pp |
| Apr 2026 | 3.8% | +0.6% | +0.55 pp |
| Mar 2026 | 3.3% | +0.9% | +0.84 pp |
| Feb 2026 | 2.4% | +0.3% | +0.03 pp |
| Jan 2026 | 2.4% | +0.2% | -0.29 pp |
| Dec 2025 | 2.7% | +0.3% | -0.06 pp |
| Nov 2025 | 2.7% | — | — |
| Oct 2025 | — | — | — |
Core Consumer Price Index
Consumer prices excluding food and energy. Core inflation helps show the underlying trend.
Inflation history
Latest 12 monthly readings · Year-over-year
Annual percentage change · Dashed line: 2% reference. The Fed’s target applies to headline PCE, not separately to each index. Missing observations remain gaps. Hover anywhere, tap or use arrow keys for an exact monthly reading.
Monthly inflation readings
Latest 12 months
| Month | Annual inflation | Monthly inflation · SA | Annual-rate change |
|---|---|---|---|
| Sep 2026 | 2.6% | +0.3% | +0.12 pp |
| Aug 2026 | 2.4% | +0.3% | -0.03 pp |
| Jul 2026 | 2.5% | +0.2% | -0.12 pp |
| Jun 2026 | 2.6% | 0.0% | -0.26 pp |
| May 2026 | 2.9% | +0.2% | +0.10 pp |
| Apr 2026 | 2.8% | +0.4% | +0.16 pp |
| Mar 2026 | 2.6% | +0.2% | +0.14 pp |
| Feb 2026 | 2.5% | +0.2% | -0.05 pp |
| Jan 2026 | 2.5% | +0.3% | -0.14 pp |
| Dec 2025 | 2.6% | +0.2% | +0.01 pp |
| Nov 2025 | 2.6% | — | — |
| Oct 2025 | — | — | — |
PCE Price Index
Prices of goods and services purchased by or on behalf of U.S. consumers. Headline PCE is the measure used for the Federal Reserve’s 2% longer-run inflation objective.
Inflation history
Latest 12 monthly readings · Year-over-year
Annual percentage change · Dashed line: 2% reference. The Fed’s target applies to headline PCE, not separately to each index. Missing observations remain gaps. Hover anywhere, tap or use arrow keys for an exact monthly reading.
Monthly inflation readings
Latest 12 months
| Month | Annual inflation | Monthly inflation · SA | Annual-rate change |
|---|---|---|---|
| Sep 2026 | 3.6% | +0.5% | +0.20 pp |
| Aug 2026 | 3.4% | +0.3% | +0.07 pp |
| Jul 2026 | 3.4% | +0.1% | -0.08 pp |
| Jun 2026 | 3.5% | -0.1% | -0.37 pp |
| May 2026 | 3.8% | +0.4% | +0.25 pp |
| Apr 2026 | 3.6% | +0.4% | +0.21 pp |
| Mar 2026 | 3.4% | +0.6% | +0.56 pp |
| Feb 2026 | 2.8% | +0.3% | +0.07 pp |
| Jan 2026 | 2.7% | +0.3% | -0.05 pp |
| Dec 2025 | 2.8% | +0.3% | +0.07 pp |
| Nov 2025 | 2.7% | +0.2% | +0.05 pp |
| Oct 2025 | 2.7% | +0.1% | -0.13 pp |
Core PCE Price Index
PCE prices excluding food and energy. This measure helps assess the underlying inflation trend.
Inflation history
Latest 12 monthly readings · Year-over-year
Annual percentage change · Dashed line: 2% reference. The Fed’s target applies to headline PCE, not separately to each index. Missing observations remain gaps. Hover anywhere, tap or use arrow keys for an exact monthly reading.
Monthly inflation readings
Latest 12 months
| Month | Annual inflation | Monthly inflation · SA | Annual-rate change |
|---|---|---|---|
| Sep 2026 | 3.1% | +0.3% | +0.09 pp |
| Aug 2026 | 3.0% | +0.3% | +0.04 pp |
| Jul 2026 | 3.0% | +0.1% | -0.05 pp |
| Jun 2026 | 3.0% | +0.1% | -0.12 pp |
| May 2026 | 3.2% | +0.3% | +0.08 pp |
| Apr 2026 | 3.1% | +0.3% | -0.02 pp |
| Mar 2026 | 3.1% | +0.3% | +0.15 pp |
| Feb 2026 | 3.0% | +0.3% | +0.02 pp |
| Jan 2026 | 2.9% | +0.4% | +0.07 pp |
| Dec 2025 | 2.9% | +0.3% | +0.15 pp |
| Nov 2025 | 2.7% | +0.2% | +0.02 pp |
| Oct 2025 | 2.7% | +0.2% | -0.11 pp |
Sources: BLS — CPI · BEA — PCE · Calculations: Silver Dominion · Checked twice daily
Methodology & data notes
Annual inflation = (price index / price index twelve calendar months earlier − 1) × 100. Monthly inflation = (seasonally adjusted index / previous calendar month’s seasonally adjusted index − 1) × 100. Monthly rates are not annualized. Changes in the annual rate are in percentage points (pp), not percent.
CPI and Core CPI annual rates use non-seasonally adjusted CPI-U indexes; their monthly changes use seasonally adjusted indexes. PCE and Core PCE use monthly seasonally adjusted chain-type price indexes. Core measures exclude food and energy. Different coverage and weighting mean CPI and PCE need not match.
All chart views show actual monthly year-over-year readings. The 1-year view shows the latest twelve readings; 5 years shows sixty readings; 10 years shows 120 readings; All shows the complete stored history for the selected index. All periods use line charts. There is no averaging or interpolation between source months. Positive signed changes are green, negative changes red and rounded zero changes neutral. Colours indicate direction, not whether inflation is desirable. Year-over-year rate levels retain their series colour. Missing indexes remain unavailable; rates needing a missing comparison month are not calculated (including the CPI gap in October 2025). Negative inflation appears below zero. The 2% line is a comparison reference; the Federal Reserve’s longer-run target is defined for headline PCE.
The observation month, the latest confirmed release date and the last successful source check are different dates. CPI and PCE may refer to different months. The publication date is shown only when the official release’s observation month matches the displayed reading; otherwise it remains unconfirmed. Rates are calculated from published index levels and can differ slightly from directly published percentage changes because of rounding. Official revisions replace previously stored values on the next successful check.
Index data are retrieved directly from BLS public time-series text files and the BEA downloadable NIPA Section 2 workbook, monthly Table 2.8.4. CPI uses CUUR0000SA0 and CUSR0000SA0; Core CPI uses CUUR0000SA0L1E and CUSR0000SA0L1E. PCE uses DPCERG and Core PCE uses DPCCRG. The stored series keys are retained for compatibility with existing Silver Dominion tools. Their histories start at different dates. Source checks run centrally twice daily; visitor views and the read-only site endpoint use stored data. WordPress scheduled tasks depend on traffic unless a server cron is configured. Failed data checks preserve the last verified snapshot. No API key or external chart library is required.
Independent Silver Dominion tool. Not affiliated with or endorsed by BLS, BEA or the Federal Reserve. These are measured inflation rates, distinct from breakeven inflation in the bond market.
U.S. Inflation Data: CPI, PCE and Core Measures
The U.S. Inflation Tracker brings together four widely followed measures of American inflation: CPI, Core CPI, PCE and Core PCE. Compare the latest annual readings, review monthly price changes and explore historical charts to see whether inflation is accelerating or slowing.
CPI measures changes in the prices consumers pay for goods and services, while PCE uses a broader measure of consumer spending. Core CPI and Core PCE exclude food and energy, helping reveal underlying price trends. The Federal Reserve’s 2% inflation target refers to headline PCE, although policymakers also closely monitor core inflation.
Inflation releases can change expectations for monetary policy. Our Fed Interest Rate & FOMC Tracker shows the current policy rate and upcoming meeting dates. To compare reported inflation with expectations reflected in bond prices, explore the U.S. Breakeven Inflation Tracker.
For gold and silver investors, inflation is one part of the wider picture. Changes in interest rates, the dollar and U.S. real yields can influence how precious metals respond. Higher inflation therefore does not automatically translate into higher gold or silver prices.
The tracker displays the observation month and publication date alongside each measure, helping distinguish the period covered by the data from the date it became available. Historical readings and the latest 12-month table provide context beyond a single release.
U.S. Inflation Tracker FAQ
What does the U.S. Inflation Tracker show?
The tracker displays CPI, Core CPI, PCE, and Core PCE inflation. You can compare annual inflation rates, explore historical charts, and review annual and monthly changes in the latest 12-month table.
What is the difference between CPI and PCE inflation?
CPI measures price changes for goods and services purchased directly by consumers. PCE covers a broader range of consumer spending, including certain expenses paid on behalf of households. Differences in coverage, weighting, and calculation mean the two measures can produce different inflation readings.
What do Core CPI and Core PCE measure?
Core CPI and Core PCE exclude food and energy prices, which can fluctuate sharply from month to month. These measures help identify underlying inflation trends, while headline CPI and PCE include food and energy.
Which inflation measure does the Federal Reserve target?
The Federal Reserve’s 2% longer-run inflation target refers to headline PCE inflation. Policymakers also monitor Core PCE and other indicators when assessing price pressures. Our Fed Interest Rate & FOMC Tracker shows the current policy rate and upcoming meeting dates.
What is the difference between annual and monthly inflation?
Annual inflation compares prices with the same month one year earlier. Monthly inflation compares prices with the previous month. In this tracker, monthly changes use seasonally adjusted data. Annual CPI readings use unadjusted data, while annual PCE readings use seasonally adjusted data.
Where does the inflation data come from, and how often is it updated?
CPI data originate from the U.S. Bureau of Labor Statistics, while PCE data originate from the Bureau of Economic Analysis. The tracker retrieves these official index series through FRED and checks for updates twice daily. Both measures are normally published monthly. The observation month identifies the period measured; the publication date shows when the figures were released.
Why does U.S. inflation matter for gold and silver?
Inflation can affect purchasing power, interest-rate expectations, and demand for precious metals. Gold and silver also respond to the dollar, investor flows, and U.S. real yields, so higher inflation does not automatically mean higher metal prices. The U.S. Breakeven Inflation Tracker provides a separate view of inflation compensation reflected in Treasury bond prices.