In May 2024, the inflation rate of the consumer price index increased by 3.3 percent when compared to May 2023. Inflation continues to trend downward. Core inflation has held more steady, decreasing only slightly from the year prior.
Monthly inflation rate and core inflation rate in the United States from May 2020 to May 2024
(not seasonally adjusted)
Characteristic
Inflation
Core inflation
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Core inflation measured by the BLS uses the modified Laspeyres formula which differs from the personal consumption expenditures price index which uses the Fisher-Ideal formula. PCE measures spending by and on behalf of the personal sector, which includes both households and nonprofit institutions serving households; the CPI measures out-of-pocket spending by households.
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Bureau of Labor Statistics. (June 12, 2024). Monthly inflation rate and core inflation rate in the United States from May 2020 to May 2024 (not seasonally adjusted) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1394307/monthly-inflation-vs-core-inflation-us/
Bureau of Labor Statistics. "Monthly inflation rate and core inflation rate in the United States from May 2020 to May 2024 (not seasonally adjusted)." Chart. June 12, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1394307/monthly-inflation-vs-core-inflation-us/
Bureau of Labor Statistics. (2024). Monthly inflation rate and core inflation rate in the United States from May 2020 to May 2024 (not seasonally adjusted). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1394307/monthly-inflation-vs-core-inflation-us/
Bureau of Labor Statistics. "Monthly Inflation Rate and Core Inflation Rate in The United States from May 2020 to May 2024 (Not Seasonally Adjusted)." Statista, Statista Inc., 12 Jun 2024, https://www.statista.com/statistics/1394307/monthly-inflation-vs-core-inflation-us/
Bureau of Labor Statistics, Monthly inflation rate and core inflation rate in the United States from May 2020 to May 2024 (not seasonally adjusted) Statista, https://www.statista.com/statistics/1394307/monthly-inflation-vs-core-inflation-us/ (last visited July 22, 2024)
Monthly inflation rate and core inflation rate in the United States from May 2020 to May 2024 (not seasonally adjusted) [Graph], Bureau of Labor Statistics, June 12, 2024. [Online]. Available: https://www.statista.com/statistics/1394307/monthly-inflation-vs-core-inflation-us/