Monthly US Inflation Rate 1913 to Present

The monthly inflation rate for July 2025 was 0.15%

A year earlier, in July 2024, monthly inflation was a low (for July) 0.12%. So, annual inflation rose slightly because July 2025 was slightly higher than July 2024.

Typically, when we talk about inflation, we are talking about the change in prices (price inflation) on a yearly or annual basis, i.e., how much prices have changed since last year. Generally, this is because the monthly changes are small and tend to fluctuate in both directions, but usually add up to measurable inflation on an annual basis. The annual inflation rate is made up of a combination of monthly rates. But often, the monthly rates presented by the Bureau of Labor Statistics are “Seasonally Adjusted,” so you can’t just add those up to get the Annual Unadjusted Inflation Rate.

The following table presents the unadjusted monthly inflation rate, i.e., the rate of increase (or decrease) in the basket of goods and services tracked by the U.S. Bureau of Labor Statistics over the last month.

Although these are the components of the Annual inflation rate, since inflation compounds, the annual inflation rate is not just adding the monthly inflation rates. But looking at the monthly rates can give you some perspective on how the Annual rate is going. And if we remove one month (from a year ago) and replace it with the most recent month, we don’t need to worry about compounding. So, if the most recent month is 0.1% larger than the month that was removed, Annual inflation will increase by 0.1%.

Often, you will have the occasional month that is negative (deflationary) that chips away at the overall annual inflation, but it is much rarer to have enough monthly deflation to actually result in annual deflation. Deflation (lower prices) on a monthly basis, but not resulting in annual deflation, is called “Disinflation“.

Monthly Inflation Chart 2020-2025

Typically, monthly inflation is highest from January through May, often in the 0.30% to 0.50% range. However, 2022 started out with much higher than average monthly inflation… 0.84% (January), 0.91% (February), and 1.34% (March). this is high even for the first quarter of a year when monthly inflation is already at its highest.

May 2022’s 1.10% was extremely high even for the high months, so being replaced by the relatively low 0.25% of May 2023 knocked annual inflation way down. The same thing happened in June. Typically, in June, inflation moderates into a lower range, but in 2022, monthly inflation in June was also high, i.e., 1.37%. So, the two-month inflation for May and June alone was 2.49%. Since June 2023 was only 0.32%, we saw a significant drop in annual inflation.

But then comes July 2022, which had negative monthly inflation (i.e., disinflationary), although it was virtually zero. So, any inflation at all in July 2023 would bump the annual inflation rate up again. Looking at the following chart, we can see that January 2024 was lower than January 2023, so annual inflation fell. But then February 2024 was slightly higher than February 2023 so annual inflation rose.

In January 2025, 0.65% replaced 2024’s 0.54%, so once again, Annual Inflation increased. In February 2025, 0.44% replaced 0.62%, causing an annual inflation decline. In March, we saw a large decline as 0.22% replaced 0.65%. But the April decline was very small, as 0.13% replaced 0.39%. Then, in June, a whopping 0.34% replaced a minuscule 0.03% increasing annual inflation from 2.35% to 2.67%.

In the complete table below, you may notice things like the fact that the last quarter of the year is more likely to have deflation while the first quarter is more likely to be highly inflationary. Notice the red is primarily on the right side of the table. In the chart above, see how tall the bars are from January through June and how short they are from September through December. (except in 2021 when inflation was out of control).

See How Do I Calculate the Inflation Rate? for more information on calculating inflation.
See: annual inflation rates for what is normally considered “the Inflation Rate“.

This data is based on the historical CPI-U data from the Bureau of Labor Statistics. Typically, monthly inflation is a fraction of a percent, although when inflation is particularly bad it can be a whole percentage point or more. During Hyperinflation it can be 10% or even hundreds of percent. But hyperinflationary rates are not sustainable in the long run and usually result in massive chaos.

For historical annual inflation rates , historical Consumer Price Indexes

Monthly Inflation Rate Table

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2025	0.65%	0.44%	0.22%	0.31%	0.21%	0.34%	0.15%
2024	0.54%	0.62%	0.65%	0.39%	0.17%	0.03%	0.12%	0.08%	0.16%	0.12%	-0.05%	0.04%
2023	0.81%	0.56%	0.33%	0.51%	0.25%	0.32%	0.19%	0.44%	0.25%	-0.04%	-0.20%	-0.10%
2022	0.84%	0.91%	1.34%	0.56%	1.10%	1.37%	-0.01%	-0.04%	0.22%	0.41%	-0.10%	-0.31%
2021	0.43%	0.55%	0.71%	0.82%	0.80%	0.93%	0.48%	0.21%	0.27%	0.83%	0.49%	0.31%
2020	0.39%	0.27%	-0.22%	-0.67%	0.00%	0.55%	0.51%	0.32%	0.14%	0.04%	-0.06%	0.09%
2019	0.19%	0.42%	0.56%	0.53%	0.21%	0.02%	0.17%	-0.01%	0.08%	0.23%	-0.05%	-0.09%
2018	0.54%	0.45%	0.23%	0.40%	0.42%	0.16%	0.01%	0.06%	0.12%	0.18%	-0.33%	-0.32%
2017	0.58%	0.31%	0.08%	0.30%	0.09%	0.09%	-0.07%	0.30%	0.53%	-0.06%	0.00%	-0.06%
2016	0.17%	0.08%	0.43%	0.47%	0.41%	0.33%	-0.16%	0.09%	0.24%	0.12%	-0.16%	0.03%
2015	-0.47%	0.43%	0.60%	0.20%	0.51%	0.35%	0.01%	-0.14%	-0.16%	-0.04%	-0.21%	-0.34%
2014	0.37%	0.37%	0.64%	0.33%	0.35%	0.19%	-0.04%	-0.17%	0.08%	-0.25%	-0.54%	-0.57%
2013	0.30%	0.82%	0.26%	-0.10%	0.18%	0.24%	0.04%	0.12%	0.12%	-0.26%	-0.20%	-0.01%
2012	0.44%	0.44%	0.76%	0.30%	-0.12%	-0.15%	-0.16%	0.56%	0.45%	-0.04%	-0.47%	-0.27%
2011	0.48%	0.49%	0.98%	0.64%	0.47%	-0.11%	0.09%	0.28%	0.15%	-0.21%	-0.08%	-0.25%
2010	0.34%	0.02%	0.41%	0.17%	0.08%	-0.10%	0.02%	0.14%	0.06%	0.12%	0.04%	0.17%
2009	0.44%	0.50%	0.24%	0.25%	0.29%	0.86%	-0.16%	0.22%	0.06%	0.10%	0.07%	-0.18%
2008	0.50%	0.29%	0.87%	0.61%	0.84%	1.01%	0.53%	-0.40%	-0.14%	-1.01%	-1.92%	-1.03%
2007	0.31%	0.54%	0.91%	0.65%	0.61%	0.19%	-0.03%	-0.18%	0.28%	0.21%	0.59%	-0.07%
2006	0.76%	0.20%	0.55%	0.85%	0.50%	0.20%	0.30%	0.20%	-0.49%	-0.54%	-0.15%	0.15%
2005	0.21%	0.58%	0.78%	0.67%	-0.10%	0.05%	0.46%	0.51%	1.22%	0.20%	-0.80%	-0.40%
2004	0.49%	0.54%	0.64%	0.32%	0.59%	0.32%	-0.16%	0.05%	0.21%	0.53%	0.05%	-0.37%
2003	0.44%	0.77%	0.60%	-0.22%	-0.16%	0.11%	0.11%	0.38%	0.33%	-0.11%	-0.27%	-0.11%
2002	0.23%	0.40%	0.56%	0.56%	0.00%	0.06%	0.11%	0.33%	0.17%	0.17%	0.00%	-0.22%
2001	0.63%	0.40%	0.23%	0.40%	0.45%	0.17%	-0.28%	0.00%	0.45%	-0.34%	-0.17%	-0.39%
2000	0.30%	0.59%	0.82%	0.06%	0.12%	0.52%	0.23%	0.00%	0.52%	0.17%	0.06%	-0.06%
1999	0.24%	0.12%	0.30%	0.73%	0.00%	0.00%	0.30%	0.24%	0.48%	0.18%	0.06%	0.00%
1998	0.19%	0.19%	0.19%	0.18%	0.18%	0.12%	0.12%	0.12%	0.12%	0.24%	0.00%	-0.06%
1997	0.32%	0.31%	0.25%	0.12%	-0.06%	0.12%	0.12%	0.19%	0.25%	0.25%	-0.06%	-0.12%
1996	0.59%	0.32%	0.52%	0.39%	0.19%	0.06%	0.19%	0.19%	0.32%	0.32%	0.19%	0.00%
1995	0.40%	0.40%	0.33%	0.33%	0.20%	0.20%	0.00%	0.26%	0.20%	0.33%	-0.07%	-0.07%
1994	0.27%	0.34%	0.34%	0.14%	0.07%	0.34%	0.27%	0.40%	0.27%	0.07%	0.13%	0.00%
1993	0.49%	0.35%	0.35%	0.28%	0.14%	0.14%	0.00%	0.28%	0.21%	0.41%	0.07%	0.00%
1992	0.15%	0.36%	0.51%	0.14%	0.14%	0.36%	0.21%	0.28%	0.28%	0.35%	0.14%	-0.07%
1991	0.60%	0.15%	0.15%	0.15%	0.30%	0.29%	0.15%	0.29%	0.44%	0.15%	0.29%	0.07%
1990	1.03%	0.47%	0.55%	0.16%	0.23%	0.54%	0.38%	0.92%	0.84%	0.60%	0.22%	0.00%
1989	0.50%	0.41%	0.58%	0.65%	0.57%	0.24%	0.24%	0.16%	0.32%	0.48%	0.24%	0.16%
1988	0.26%	0.26%	0.43%	0.52%	0.34%	0.43%	0.42%	0.42%	0.67%	0.33%	0.08%	0.17%
1987	0.63%	0.36%	0.45%	0.54%	0.35%	0.35%	0.26%	0.53%	0.52%	0.26%	0.09%	0.00%
1986	0.27%	-0.27%	-0.46%	-0.18%	0.28%	0.55%	0.00%	0.18%	0.46%	0.09%	0.09%	0.09%
1985	0.19%	0.47%	0.38%	0.47%	0.37%	0.28%	0.19%	0.19%	0.28%	0.37%	0.28%	0.28%
1984	0.59%	0.49%	0.20%	0.49%	0.29%	0.29%	0.39%	0.38%	0.48%	0.29%	0.00%	0.00%
1983	0.20%	0.10%	0.00%	0.72%	0.61%	0.30%	0.40%	0.30%	0.50%	0.30%	0.20%	0.10%
1982	0.32%	0.32%	-0.11%	0.42%	0.95%	1.25%	0.52%	0.21%	0.20%	0.31%	-0.20%	-0.41%
1981	0.81%	1.03%	0.68%	0.68%	0.79%	0.89%	1.10%	0.76%	0.98%	0.21%	0.32%	0.32%
1980	1.43%	1.41%	1.52%	1.12%	0.99%	1.10%	0.00%	0.73%	0.84%	0.95%	0.83%	0.94%
1979	0.89%	1.17%	1.01%	1.15%	1.27%	1.12%	1.11%	0.96%	1.08%	0.80%	0.93%	1.05%
1978	0.64%	0.64%	0.79%	0.79%	0.94%	1.09%	0.77%	0.46%	0.76%	0.90%	0.45%	0.45%
1977	0.52%	1.03%	0.68%	0.84%	0.50%	0.66%	0.49%	0.33%	0.33%	0.33%	0.49%	0.32%
1976	0.18%	0.36%	0.18%	0.36%	0.71%	0.53%	0.53%	0.53%	0.35%	0.52%	0.17%	0.34%
1975	0.39%	0.77%	0.38%	0.38%	0.57%	0.75%	1.12%	0.18%	0.55%	0.55%	0.73%	0.36%
1974	0.87%	1.29%	1.27%	0.42%	1.25%	0.82%	0.82%	1.21%	1.20%	0.99%	0.78%	0.78%
1973	0.24%	0.70%	0.93%	0.69%	0.69%	0.68%	0.23%	1.81%	0.22%	0.88%	0.66%	0.65%
1972	0.00%	0.49%	0.24%	0.24%	0.24%	0.24%	0.48%	0.24%	0.24%	0.48%	0.24%	0.24%
1971	0.00%	0.25%	0.25%	0.25%	0.50%	0.74%	0.25%	0.25%	0.00%	0.25%	0.00%	0.49%
1970	0.27%	0.53%	0.53%	0.79%	0.26%	0.52%	0.52%	0.00%	0.51%	0.51%	0.51%	0.51%
1969	0.28%	0.56%	0.84%	0.55%	0.28%	0.55%	0.55%	0.54%	0.27%	0.54%	0.54%	0.53%
1968	0.59%	0.29%	0.29%	0.29%	0.29%	0.58%	0.58%	0.29%	0.29%	0.57%	0.28%	0.28%
1967	0.00%	0.00%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%
1966	0.00%	0.63%	0.31%	0.62%	0.00%	0.31%	0.31%	0.62%	0.00%	0.61%	0.00%	0.00%
1965	0.00%	0.00%	0.32%	0.32%	0.00%	0.64%	0.00%	0.00%	0.00%	0.32%	0.00%	0.32%
1964	0.00%	0.00%	0.00%	0.00%	0.00%	0.32%	0.32%	-0.32%	0.32%	0.00%	0.32%	0.00%
1963	0.00%	0.00%	0.33%	0.00%	0.00%	0.33%	0.33%	0.00%	0.00%	0.33%	0.00%	0.32%
1962	0.00%	0.33%	0.00%	0.33%	0.00%	0.00%	0.33%	0.00%	0.33%	0.00%	0.00%	0.00%
1961	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.67%	-0.33%	0.33%	0.00%	0.00%	0.00%
1960	-0.34%	0.34%	0.00%	0.34%	0.00%	0.34%	0.00%	0.00%	0.00%	0.68%	0.00%	0.00%
1959	0.35%	-0.34%	0.00%	0.35%	0.00%	0.34%	0.34%	0.00%	0.34%	0.34%	0.00%	0.00%
1958	0.70%	0.00%	0.70%	0.35%	0.00%	0.00%	0.35%	-0.34%	0.00%	0.00%	0.35%	-0.34%
1957	0.00%	0.36%	0.36%	0.36%	0.36%	0.36%	0.71%	0.00%	0.00%	0.00%	0.35%	0.00%
1956	0.00%	0.00%	0.00%	0.37%	0.37%	0.74%	0.74%	-0.36%	0.37%	0.36%	0.00%	0.36%
1955	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.37%	0.00%	0.37%	0.00%	0.00%	-0.37%
1954	0.00%	0.00%	0.00%	-0.37%	0.37%	0.00%	0.00%	0.00%	-0.37%	0.00%	0.00%	-0.37%
1953	-0.37%	-0.38%	0.38%	0.00%	0.38%	0.37%	0.00%	0.37%	0.00%	0.37%	-0.37%	0.00%
1952	0.00%	-0.75%	0.00%	0.38%	0.00%	0.38%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%
1951	1.60%	1.18%	0.39%	0.00%	0.39%	0.00%	0.00%	0.00%	0.77%	0.38%	0.76%	0.38%
1950	-0.42%	0.00%	0.43%	0.00%	0.42%	0.42%	1.26%	0.83%	0.41%	0.82%	0.41%	1.21%
1949	-0.41%	-0.83%	0.00%	0.42%	-0.42%	0.42%	-0.84%	0.42%	0.42%	-0.84%	0.42%	-0.84%
1948	1.28%	-0.84%	-0.43%	1.71%	0.42%	0.84%	1.24%	0.41%	0.00%	-0.41%	-0.82%	-0.41%
1947	0.00%	0.00%	1.86%	0.00%	0.00%	0.46%	0.91%	1.35%	2.22%	0.00%	0.43%	1.30%
1946	0.00%	-0.55%	1.10%	0.55%	0.54%	1.08%	5.88%	2.02%	0.99%	1.96%	2.40%	0.94%
1945	0.00%	0.00%	0.00%	0.00%	0.56%	1.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.55%
1944	0.00%	0.00%	0.00%	0.57%	0.00%	0.57%	0.57%	0.00%	0.00%	0.00%	0.00%	0.56%
1943	0.00%	0.00%	1.78%	1.16%	0.57%	0.00%	-0.57%	-0.57%	0.58%	0.00%	0.00%	0.00%
1942	1.29%	0.64%	1.27%	0.63%	1.24%	0.00%	0.61%	0.61%	0.00%	1.21%	0.60%	0.60%
1941	0.00%	0.00%	0.71%	0.70%	0.70%	2.08%	0.00%	1.36%	1.34%	1.32%	0.65%	0.65%
1940	-0.71%	0.72%	0.00%	0.00%	0.00%	0.71%	-0.71%	0.00%	0.00%	0.00%	0.00%	0.71%
1939	0.00%	-0.71%	0.00%	-0.72%	0.00%	0.00%	0.00%	0.00%	2.17%	-0.71%	0.00%	0.00%
1938	-1.39%	-0.70%	0.00%	0.71%	-0.70%	0.00%	0.00%	0.00%	0.00%	-0.71%	0.00%	0.00%
1937	0.71%	0.00%	0.71%	0.70%	0.70%	0.00%	0.69%	0.00%	0.69%	0.00%	-0.68%	-0.69%
1936	0.00%	0.00%	-0.72%	0.00%	0.00%	0.73%	0.72%	0.72%	0.00%	0.00%	0.00%	0.00%
1935	1.49%	0.74%	0.00%	0.73%	0.00%	-0.72%	0.00%	0.00%	0.00%	0.00%	0.73%	0.00%
1934	0.00%	0.76%	0.00%	0.00%	0.00%	0.75%	0.00%	0.00%	1.49%	-0.74%	0.00%	-0.74%
1933	-1.53%	-1.55%	-0.79%	0.00%	0.00%	0.79%	3.15%	0.76%	0.00%	0.00%	0.00%	0.00%
1932	-2.05%	-1.40%	-0.71%	-0.71%	-1.44%	-0.73%	0.00%	-0.74%	-0.74%	-0.75%	-0.75%	-0.76%
1931	-1.24%	-1.26%	-0.64%	-0.64%	-1.29%	-1.31%	0.00%	0.00%	-0.66%	-0.67%	-1.34%	-0.68%
1930	-0.58%	-0.58%	-0.59%	0.59%	-0.59%	-0.59%	-1.19%	-0.60%	0.61%	-0.60%	-0.61%	-1.83%
1929	0.00%	0.00%	-0.58%	-0.59%	0.59%	0.59%	1.17%	0.00%	0.00%	0.00%	0.00%	-0.58%
1928	0.00%	-1.16%	0.00%	0.00%	0.58%	-0.58%	0.00%	0.00%	1.17%	-0.58%	0.00%	-0.58%
1927	-1.13%	-0.57%	-0.57%	0.00%	0.58%	1.15%	-1.70%	-0.58%	0.58%	0.58%	-0.57%	0.00%
1926	0.00%	0.00%	-0.56%	0.56%	-0.56%	-0.56%	-1.13%	-0.57%	0.57%	0.57%	0.57%	0.00%
1925	0.00%	-0.58%	0.58%	-0.58%	0.58%	1.16%	1.14%	0.00%	0.00%	0.00%	1.69%	-0.56%
1924	0.00%	-0.58%	-0.58%	-0.58%	0.00%	0.00%	0.59%	-0.58%	0.59%	0.58%	0.00%	0.58%
1923	-0.59%	0.00%	0.00%	0.60%	0.00%	0.59%	1.18%	-0.58%	0.58%	0.58%	0.00%	0.00%
1922	-2.31%	0.00%	-1.18%	0.00%	0.00%	0.00%	0.60%	-1.19%	0.00%	0.60%	0.60%	0.60%
1921	-2.06%	-3.16%	-0.54%	-1.09%	-2.21%	-0.56%	0.57%	0.00%	-1.13%	0.00%	-0.57%	-0.57%
1920	2.12%	1.04%	1.03%	3.05%	1.48%	1.46%	-0.48%	-2.40%	-1.48%	-0.50%	-0.50%	-2.02%
1919	0.00%	-1.82%	1.23%	1.83%	1.20%	0.00%	2.96%	1.72%	0.56%	1.69%	2.21%	2.16%
1918	2.19%	0.71%	-0.71%	1.43%	2.11%	1.38%	2.72%	1.99%	1.95%	1.91%	1.88%	1.23%
1917	0.86%	2.56%	0.00%	5.00%	1.59%	1.56%	-1.54%	1.56%	2.31%	1.50%	0.00%	1.48%
1916	0.97%	0.00%	0.96%	0.95%	0.94%	0.93%	0.00%	0.93%	1.83%	1.80%	1.77%	0.87%
1915	0.00%	-0.99%	-1.00%	1.01%	1.00%	0.00%	0.00%	0.00%	0.00%	0.99%	0.98%	0.00%
1914	0.00%	-1.00%	0.00%	-1.01%	1.02%	0.00%	1.01%	2.00%	0.00%	-0.98%	0.99%	-0.98%
1913	NA	0.00%	0.00%	0.00%	-1.02%	1.03%	1.02%	0.00%	1.01%	0.00%	1.00%	-0.99%
	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec

For more information, see:

Data Source: U.S. Bureau of Labor Statistics

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