US inflation
What US year-on-year inflation is, how core inflation is developing and when new figures are due.
Data as of September 2026
Inflation is 1.7 percentage points above the Fed's target (2%). Core inflation is 2.6% and core PCE, which the Fed watches most, is 3.0%.
The next inflation figure is due on 10 Nov 2026 (8:30 am New York time). An upside surprise is usually bad news for stocks and cryptocurrencies, a downside surprise good news.
Year-on-year inflation over 10 years
CPI and core CPI in percent. The 2% line is the Fed's target.
Monthly change in CPI
Seasonally adjusted, in percent, since 2022.
Frequently asked questions
What is CPI?
The Consumer Price Index measures how the prices of a basket of goods and services bought by US households change. The year-on-year change is what is usually quoted as inflation. It is published by the US Bureau of Labor Statistics around the 10th to 15th of the month.
What is core inflation?
Inflation excluding food and energy prices, which swing strongly. It shows more persistent price pressure, which is why the Fed watches it more closely than the headline number.
Why does inflation matter for crypto and stocks?
High inflation forces the Fed to keep rates high or raise them, which weighs on the valuation of stocks and cryptocurrencies. Surprisingly low inflation, on the other hand, raises hopes of rate cuts and markets typically rise.
What is the inflation target?
The Fed targets 2% average inflation as measured by the PCE index. Headline CPI tends to run slightly higher than PCE.
Sources: BLS via FRED (CPI), BEA via FRED (PCE). The year-on-year change is from the non-seasonally adjusted index and the monthly change from the adjusted one, as in the BLS report. For information only, not investment advice.