The misery index is an economic indicator that combines the unemployment rate and the inflation rate. Although it is rare for both unemployment and inflation to be high at the same time, there have been instances of this occurring, such as during episodes of stagflation in the 1970s. Due to high levels of inflation since late 2021, the misery index in March 2023 is at a relatively high rate of 8.49 percent.
Annual rate of change of the misery index (unemployment rate plus consumer price index) in the United States from January 1960 to September 2022
Characteristic
Annual rate of change
Mar 23
8.49%
Feb 23
9.59%
Jan 23
9.75%
Dec 22
9.94%
Nov 22
10.74%
Oct 22
11.46%
Sep 22
11.72%
Aug 22
11.95%
Jul 22
11.99%
Jun 22
12.6%
May 22
12.12%
Apr 22
11.82%
Mar 22
12.16%
Feb 22
11.71%
Jan 22
11.53%
Dec 21
11%
Nov 21
11.03%
Oct 21
10.84%
Sep 21
10.09%
Aug 21
10.41%
Jul 21
10.68%
Jun 21
11.24%
May 21
10.74%
Apr 21
10.15%
Mar 21
8.66%
Feb 21
7.88%
Jan 21
7.76%
Dec 20
7.98%
Nov 20
7.84%
Oct 20
8.08%
Sep 20
9.3%
Aug 20
9.73%
Jul 20
11.23%
Jun 20
11.73%
May 20
13.44%
Apr 20
15.06%
Mar 20
5.93%
Feb 20
5.82%
Jan 20
5.96%
Dec 19
5.86%
Nov 19
5.63%
Oct 19
5.36%
Sep 19
5.23%
Aug 19
5.46%
Jul 19
5.52%
Jun 19
5.29%
May 19
5.41%
Apr 19
5.61%
Mar 19
5.68%
Feb 19
5.28%
Jan 19
5.5%
Dec 18
5.82%
Nov 18
5.97%
Oct 18
6.33%
Sep 18
6.06%
Aug 18
6.48%
Jul 18
6.7%
Jun 18
6.85%
May 18
6.58%
Apr 18
6.44%
Mar 18
6.33%
Feb 18
6.33%
Jan 18
6.1%
Dec 17
6.23%
Nov 17
6.37%
Oct 17
6.22%
Sep 17
6.48%
Aug 17
6.33%
Jul 17
6.03%
Jun 17
5.94%
May 17
6.26%
Apr 17
6.58%
Mar 17
6.84%
Feb 17
7.41%
Jan 17
7.21%
Dec 16
6.75%
Nov 16
6.38%
Oct 16
6.59%
Sep 16
6.55%
Aug 16
5.96%
Jul 16
5.67%
Jun 16
5.98%
May 16
5.88%
Apr 16
6.27%
Mar 16
5.89%
Feb 16
5.75%
Jan 16
6.04%
Dec 15
5.64%
Nov 15
5.54%
Oct 15
5.13%
Sep 15
5.01%
Aug 15
5.34%
Jul 15
5.43%
Jun 15
5.48%
May 15
5.64%
Apr 15
5.3%
Mar 15
5.38%
Feb 15
5.41%
Jan 15
5.47%
Dec 14
6.25%
Nov 14
7.03%
Oct 14
7.31%
Sep 14
7.58%
Aug 14
7.82%
Jul 14
8.17%
Jun 14
8.16%
May 14
8.47%
Apr 14
8.22%
Mar 14
8.31%
Feb 14
7.82%
Jan 14
8.16%
Dec 13
8.21%
Nov 13
8.13%
Oct 13
8.08%
Sep 13
8.29%
Aug 13
8.74%
Jul 13
9.19%
Jun 13
9.22%
May 13
8.89%
Apr 13
8.74%
Mar 13
9.02%
Feb 13
9.72%
Jan 13
9.68%
Dec 12
9.66%
Nov 12
9.5%
Oct 12
9.96%
Sep 12
9.75%
Aug 12
9.79%
Jul 12
9.62%
Jun 12
9.85%
May 12
9.94%
Apr 12
10.47%
Mar 12
10.78%
Feb 12
11.2%
Jan 12
11.31%
Dec 11
11.56%
Nov 11
12.05%
Oct 11
12.32%
Sep 11
12.81%
Aug 11
12.76%
Jul 11
12.58%
Jun 11
12.6%
May 11
12.46%
Apr 11
12.18%
Mar 11
11.62%
Feb 11
11.12%
Jan 11
10.8%
Dec 10
10.74%
Nov 10
10.88%
Oct 10
10.57%
Sep 10
10.62%
Aug 10
10.65%
Jul 10
10.74%
Jun 10
10.52%
May 10
11.6%
Apr 10
12.11%
Mar 10
12.19%
Feb 10
11.95%
Jan 10
12.42%
Dec 09
12.71%
Nov 09
11.81%
Oct 09
9.78%
Sep 09
8.42%
Aug 09
8.12%
Jul 09
7.54%
Jun 09
8.27%
May 09
8.38%
Apr 09
8.42%
Mar 09
8.25%
Feb 09
8.31%
Jan 09
7.69%
Dec 08
7.28%
Nov 08
7.9%
Oct 08
10.23%
Sep 08
11.05%
Aug 08
11.41%
Jul 08
11.3%
Jun 08
10.54%
May 08
9.49%
Apr 08
8.9%
Mar 08
9.07%
Feb 08
9.04%
Jan 08
9.29%
Dec 07
9.11%
Nov 07
9.07%
Oct 07
8.31%
Sep 07
7.53%
Aug 07
6.5%
Jul 07
7.02%
Jun 07
7.29%
May 07
7.11%
Apr 07
7.09%
Mar 07
7.2%
Feb 07
6.92%
Jan 07
6.68%
Dec 06
6.92%
Nov 06
6.47%
Oct 06
5.81%
Sep 06
6.51%
Aug 06
8.63%
Jul 06
8.8%
Jun 06
8.78%
May 06
8.58%
Apr 06
8.31%
Mar 06
8.12%
Feb 06
8.44%
Jan 06
8.72%
Dec 05
8.24%
Nov 05
8.34%
Oct 05
9.35%
Sep 05
9.74%
Aug 05
8.55%
Jul 05
8.07%
Jun 05
7.54%
May 05
7.97%
Apr 05
8.56%
Mar 05
8.41%
Feb 05
8.45%
Jan 05
8.14%
Dec 04
8.74%
Nov 04
9.02%
Oct 04
8.69%
Sep 04
7.94%
Aug 04
7.95%
Jul 04
8.44%
Jun 04
8.77%
May 04
8.5%
Apr 04
7.89%
Mar 04
7.54%
Feb 04
7.29%
Jan 04
7.73%
Dec 03
7.74%
Nov 03
7.73%
Oct 03
8.04%
Sep 03
8.48%
Aug 03
8.32%
Jul 03
8.26%
Jun 03
8.25%
May 03
7.99%
Apr 03
8.18%
Mar 03
8.93%
Feb 03
9.05%
Jan 03
8.56%
Dec 02
8.48%
Nov 02
8.15%
Oct 02
7.73%
Sep 02
7.22%
Aug 02
7.45%
Jul 02
7.27%
Jun 02
6.87%
May 02
7.04%
Apr 02
7.54%
Mar 02
7.06%
Feb 02
6.84%
Jan 02
6.9%
Dec 01
7.3%
Nov 01
7.39%
Oct 01
7.43%
Sep 01
7.59%
Aug 01
7.62%
Jul 01
7.32%
Jun 01
7.69%
May 01
7.86%
Apr 01
7.62%
Mar 01
7.28%
Feb 01
7.73%
Jan 01
7.92%
Dec 00
7.34%
Nov 00
7.34%
Oct 00
7.35%
Sep 00
7.36%
Aug 00
7.45%
Jul 00
7.6%
Jun 00
7.73%
May 00
7.13%
Apr 00
6.81%
Mar 00
7.76%
Feb 00
7.32%
Jan 00
6.79%
Dec 99
6.68%
Nov 99
6.72%
Oct 99
6.66%
Sep 99
6.83%
Aug 99
6.46%
Jul 99
6.44%
Jun 99
6.27%
May 99
6.29%
Apr 99
6.58%
Mar 99
5.93%
Feb 99
6.07%
Jan 99
5.97%
Dec 98
6.01%
Nov 98
5.88%
Oct 98
5.99%
Sep 98
6.03%
Aug 98
6.12%
Jul 98
6.25%
Jun 98
6.12%
May 98
6.09%
Apr 98
5.74%
Mar 98
6.08%
Feb 98
6.04%
Jan 98
6.23%
Dec 97
6.4%
Nov 97
6.49%
Oct 97
6.79%
Sep 97
7.12%
Aug 97
7.09%
Jul 97
7.07%
Jun 97
7.23%
May 97
7.14%
Apr 97
7.53%
Mar 97
7.97%
Feb 97
8.23%
Jan 97
8.34%
Dec 96
8.78%
Nov 96
8.65%
Oct 96
8.26%
Sep 96
8.2%
Aug 96
7.91%
Jul 96
8.38%
Jun 96
8.12%
May 96
8.43%
Apr 96
8.43%
Mar 96
8.34%
Feb 96
8.22%
Jan 96
8.39%
Dec 95
8.13%
Nov 95
8.2%
Oct 95
8.24%
Sep 95
8.15%
Aug 95
8.32%
Jul 95
8.53%
Jun 95
8.64%
May 95
8.72%
Apr 95
8.93%
Mar 95
8.19%
Feb 95
8.26%
Jan 95
8.47%
Dec 94
8.1%
Nov 94
8.2%
Oct 94
8.41%
Sep 94
8.87%
Aug 94
8.9%
Jul 94
8.8%
Jun 94
8.59%
May 94
8.39%
Apr 94
8.76%
Mar 94
9.15%
Feb 94
9.12%
Jan 94
9.05%
Dec 93
9.31%
Nov 93
9.34%
Oct 93
9.55%
Sep 93
9.46%
Aug 93
9.64%
Jul 93
9.75%
Jun 93
10%
May 93
10.32%
Apr 93
10.26%
Mar 93
10.02%
Feb 93
10.35%
Jan 93
10.55%
Dec 92
10.37%
Nov 92
10.52%
Oct 92
10.58%
Sep 92
10.59%
Aug 92
10.67%
Jul 92
10.86%
Jun 92
10.81%
May 92
10.62%
Apr 92
10.58%
Mar 92
10.59%
Feb 92
10.22%
Jan 92
9.97%
Dec 91
10.28%
Nov 91
10.07%
Oct 91
9.85%
Sep 91
10.3%
Aug 91
10.7%
Jul 91
11.17%
Jun 91
11.6%
May 91
11.93%
Apr 91
11.51%
Mar 91
11.62%
Feb 91
11.91%
Jan 91
12.05%
Dec 90
12.55%
Nov 90
12.4%
Oct 90
12.28%
Sep 90
12.07%
Aug 90
11.4%
Jul 90
10.32%
Jun 90
9.87%
May 90
9.77%
Apr 90
10.11%
Mar 90
10.44%
Feb 90
10.56%
Jan 90
10.6%
Dec 89
10.04%
Nov 89
10.06%
Oct 89
9.89%
Sep 89
9.74%
Aug 89
9.82%
Jul 89
10.26%
Jun 89
10.47%
May 89
10.48%
Apr 89
10.23%
Mar 89
9.89%
Feb 89
9.85%
Jan 89
9.88%
Dec 88
9.71%
Nov 88
9.55%
Oct 88
9.66%
Sep 88
9.58%
Aug 88
9.71%
Jul 88
9.53%
Jun 88
9.36%
May 88
9.58%
Apr 88
9.39%
Mar 88
9.53%
Feb 88
9.64%
Jan 88
9.83%
Dec 87
10.03%
Nov 87
10.33%
Oct 87
10.36%
Sep 87
10.17%
Aug 87
10.29%
Jul 87
10.03%
Jun 87
9.95%
May 87
9.97%
Apr 87
9.98%
Mar 87
9.44%
Feb 87
8.51%
Jan 87
7.96%
Dec 86
7.79%
Nov 86
8.18%
Oct 86
8.57%
Sep 86
8.76%
Aug 86
8.48%
Jul 86
8.67%
Jun 86
8.97%
May 86
8.88%
Apr 86
8.69%
Mar 86
9.35%
Feb 86
10.4%
Jan 86
10.67%
Dec 85
10.79%
Nov 85
10.51%
Oct 85
10.34%
Sep 85
10.35%
Aug 85
10.45%
Jul 85
10.86%
Jun 85
11.06%
May 85
10.77%
Apr 85
10.88%
Mar 85
10.99%
Feb 85
10.81%
Jan 85
10.83%
Dec 84
11.34%
Nov 84
11.35%
Oct 84
11.67%
Sep 84
11.58%
Aug 84
11.8%
Jul 84
11.81%
Jun 84
11.53%
May 84
11.73%
Apr 84
12.25%
Mar 84
12.69%
Feb 84
12.49%
Jan 84
12.29%
Dec 83
12.09%
Nov 83
11.66%
Oct 83
11.55%
Sep 83
11.96%
Aug 83
11.96%
Jul 83
11.76%
Jun 83
12.57%
May 83
13.54%
Apr 83
14.2%
Mar 83
13.89%
Feb 83
13.88%
Jan 83
14.11%
Dec 82
14.63%
Nov 82
15.28%
Oct 82
15.43%
Sep 82
15.04%
Aug 82
15.77%
Jul 82
16.36%
Jun 82
16.78%
May 82
16.31%
Apr 82
15.92%
Mar 82
15.88%
Feb 82
16.51%
Jan 82
16.86%
Dec 81
17.41%
Nov 81
17.88%
Oct 81
18.17%
Sep 81
18.57%
Aug 81
18.22%
Jul 81
17.97%
Jun 81
17.2%
May 81
17.29%
Apr 81
17.34%
Mar 81
18.01%
Feb 81
18.79%
Jan 81
19.29%
Dec 80
19.55%
Nov 80
20.13%
Oct 80
20.13%
Sep 80
20.27%
Aug 80
20.59%
Jul 80
20.95%
Jun 80
21.87%
May 80
21.93%
Apr 80
21.49%
Mar 80
20.89%
Feb 80
20.46%
Jan 80
20.17%
Dec 79
19.25%
Nov 79
18.49%
Oct 79
18.07%
Sep 79
17.78%
Aug 79
17.84%
Jul 79
17.15%
Jun 79
16.78%
May 79
16.3%
Apr 79
16.29%
Mar 79
16.05%
Feb 79
15.74%
Jan 79
15.15%
Dec 78
14.99%
Nov 78
14.77%
Oct 78
14.73%
Sep 78
14.48%
Aug 78
13.76%
Jul 78
13.93%
Jun 78
13.34%
May 78
13.14%
Apr 78
12.6%
Mar 78
12.68%
Feb 78
12.54%
Jan 78
13.21%
Dec 77
13.08%
Nov 77
13.51%
Oct 77
13.19%
Sep 77
13.22%
Aug 77
13.63%
Jul 77
13.57%
Jun 77
13.9%
May 77
13.74%
Apr 77
14.15%
Mar 77
13.83%
Feb 77
13.68%
Jan 77
12.7%
Dec 76
12.84%
Nov 76
12.86%
Oct 76
13.16%
Sep 76
13.09%
Aug 76
13.52%
Jul 76
13.36%
Jun 76
13.58%
May 76
13.61%
Apr 76
13.55%
Mar 76
13.66%
Feb 76
13.97%
Jan 76
14.59%
Dec 75
15.33%
Nov 75
15.68%
Oct 75
16.05%
Sep 75
16.31%
Aug 75
17.02%
Jul 75
18.13%
Jun 75
17.98%
May 75
18.26%
Apr 75
18.99%
Mar 75
19.06%
Feb 75
19.31%
Jan 75
19.85%
Dec 74
19.3%
Nov 74
18.8%
Oct 74
17.84%
Sep 74
17.85%
Aug 74
16.39%
Jul 74
17.04%
Jun 74
16.26%
May 74
15.81%
Apr 74
15.17%
Mar 74
15.24%
Feb 74
15.2%
Jan 74
14.7%
Dec 73
13.84%
Nov 73
13.05%
Oct 73
12.66%
Sep 73
12.16%
Aug 73
12.2%
Jul 73
10.54%
Jun 73
10.9%
May 73
10.43%
Apr 73
10.3%
Mar 73
9.73%
Feb 73
8.86%
Jan 73
8.54%
Dec 72
8.61%
Nov 72
8.71%
Oct 72
8.78%
Sep 72
8.69%
Aug 72
8.55%
Jul 72
8.56%
Jun 72
8.66%
May 72
8.93%
Apr 72
9.19%
Mar 72
9.3%
Feb 72
9.46%
Jan 72
9.06%
Dec 71
9.27%
Nov 71
9.54%
Oct 71
9.61%
Sep 71
10.08%
Aug 71
10.46%
Jul 71
10.37%
Jun 71
10.28%
May 71
10.3%
Apr 71
10.06%
Mar 71
10.44%
Feb 71
10.62%
Jan 71
11.18%
Dec 70
11.67%
Nov 70
11.5%
Oct 70
11.13%
Sep 70
11.06%
Aug 70
10.79%
Jul 70
10.71%
Jun 70
10.91%
May 70
10.84%
Apr 70
10.66%
Mar 70
10.49%
Feb 70
10.62%
Jan 70
10.06%
Dec 69
9.4%
Nov 69
9.43%
Oct 69
9.37%
Sep 69
9.4%
Aug 69
8.93%
Jul 69
8.94%
Jun 69
8.98%
May 69
8.91%
Apr 69
8.92%
Mar 69
8.65%
Feb 69
8.08%
Jan 69
8.09%
Dec 68
8.11%
Nov 68
7.82%
Oct 68
8.15%
Sep 68
7.86%
Aug 68
7.98%
Jul 68
8.19%
Jun 68
7.9%
May 68
7.73%
Apr 68
7.43%
Mar 68
7.64%
Feb 68
7.44%
Jan 68
7.35%
Dec 67
7.08%
Nov 67
7%
Oct 67
6.59%
Sep 67
6.4%
Aug 67
6.4%
Jul 67
6.73%
Jun 67
6.74%
May 67
6.12%
Apr 67
6.34%
Mar 67
6.35%
Feb 67
6.67%
Jan 67
7.1%
Dec 66
7.16%
Nov 66
7.16%
Oct 66
7.49%
Sep 66
7.27%
Aug 66
7.29%
Jul 66
6.55%
Jun 66
6.24%
May 66
6.66%
Apr 66
6.67%
Mar 66
6.58%
Feb 66
6.36%
Jan 66
5.92%
Dec 65
5.92%
Nov 65
5.83%
Oct 65
5.9%
Sep 65
6.04%
Aug 65
6.01%
Jul 65
6.21%
Jun 65
6.53%
May 65
6.21%
Apr 65
6.19%
Mar 65
5.9%
Feb 65
6.3%
Jan 65
6%
Dec 64
6.2%
Nov 64
6.2%
Oct 64
6.3%
Sep 64
6.27%
Aug 64
5.98%
Jul 64
5.98%
Jun 64
6.51%
May 64
6.64%
Apr 64
6.84%
Mar 64
6.81%
Feb 64
6.81%
Jan 64
7.24%
Dec 63
7.15%
Nov 63
7.02%
Oct 63
6.72%
Sep 63
6.49%
Aug 63
6.95%
Jul 63
7.16%
Jun 63
6.92%
May 63
6.79%
Apr 63
6.59%
Mar 63
6.83%
Feb 63
7.13%
Jan 63
7.03%
Dec 62
6.73%
Nov 62
7.03%
Oct 62
6.73%
Sep 62
7.07%
Aug 62
6.84%
Jul 62
6.4%
Jun 62
6.74%
May 62
6.84%
Apr 62
6.94%
Mar 62
6.71%
Feb 62
6.4%
Jan 62
6.47%
Dec 61
6.67%
Nov 61
6.77%
Oct 61
7.27%
Sep 61
7.95%
Aug 61
7.71%
Jul 61
8.25%
Jun 61
7.68%
May 61
8.01%
Apr 61
7.91%
Mar 61
8.36%
Feb 61
8.36%
Jan 61
8.2%
Dec 60
7.96%
Nov 60
7.57%
Oct 60
7.46%
Sep 60
6.73%
Aug 60
7.07%
Jul 60
6.87%
Jun 60
7.12%
May 60
6.93%
Apr 60
7.13%
Mar 60
6.92%
Feb 60
6.21%
Jan 60
6.44%
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St. Louis Fed. (May 1, 2023). Annual rate of change of the misery index (unemployment rate plus consumer price index) in the United States from January 1960 to September 2022 [Graph]. In Statista. Retrieved December 31, 2024, from https://www.statista.com/statistics/1324607/us-misery-index/
St. Louis Fed. "Annual rate of change of the misery index (unemployment rate plus consumer price index) in the United States from January 1960 to September 2022." Chart. May 1, 2023. Statista. Accessed December 31, 2024. https://www.statista.com/statistics/1324607/us-misery-index/
St. Louis Fed. (2023). Annual rate of change of the misery index (unemployment rate plus consumer price index) in the United States from January 1960 to September 2022. Statista. Statista Inc.. Accessed: December 31, 2024. https://www.statista.com/statistics/1324607/us-misery-index/
St. Louis Fed. "Annual Rate of Change of The Misery Index (Unemployment Rate plus Consumer Price Index) in The United States from January 1960 to September 2022." Statista, Statista Inc., 1 May 2023, https://www.statista.com/statistics/1324607/us-misery-index/
St. Louis Fed, Annual rate of change of the misery index (unemployment rate plus consumer price index) in the United States from January 1960 to September 2022 Statista, https://www.statista.com/statistics/1324607/us-misery-index/ (last visited December 31, 2024)
Annual rate of change of the misery index (unemployment rate plus consumer price index) in the United States from January 1960 to September 2022 [Graph], St. Louis Fed, May 1, 2023. [Online]. Available: https://www.statista.com/statistics/1324607/us-misery-index/
