09/13/2019

Annual Inflation Stays Below 2%

The latest Consumer Price Index (CPI) report from the Bureau of Labor Statistics (BLS) shows very little estimated inflation  - just 0.1 percent in August.  Over the past year, the CPI increased just 1.76 percent, in line with recent history of 2% or less.  

Inflation0819

But remember that the CPI is an aggregate statistic and includes prices of typical U.S. consumers. When the inflation rate is 2%, many prices rise faster than 2% and many prices even fall.  The table below shows the change in selected prices over the past year in the United States. 

CPI Table 0819

College tuition and fees increased just 2.5% and textbook prices were actually flat.  Gasoline prices fell over the course of the year and gasoline spending takes up about 4% of the typical consumer budget.  

Become a Fan

October 2019

Sun Mon Tue Wed Thu Fri Sat
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31    

Norton Economics Books

Principles of Macroeconomics

Learn More

Principles of Economics

Learn More

Principles of Microeconomics

Learn More

The Ultimate Guide to Teaching Macroeconomics

Learn More

The Ultimate Guide to Teaching Microeconomics

Learn More

« Not All Jobs Are Created Equal | Main | Inflation Almost Nonexistent in September »