The Sticky Price Consumer Price Index (CPI) is calculated from a subset of goods and services included in the CPI that change price relatively infrequently. Because these goods and services change price relatively infrequently, they are thought to incorporate expectations about future inflation to a greater degree than prices that change on a more frequent basis. One possible explanation for sticky prices could be the costs firms incur when changing price. To obtain more information about this release see: Michael F. Bryan, and Brent H. Meyer. “Are Some Prices in the CPI More Forward Looking Than Others? We Think So.” Economic Commentary (Federal Reserve Bank of Cleveland) (May 19, 2010): 1–6. https://doi.org/10.26509/frbc-ec-201002 (https://doi.org/10.26509/frbc-ec-201002).
The "Consumer Price Index for All Urban Consumers: All Items Less Food & Energy" is an aggregate of prices paid by urban consumers for a typical basket of goods, excluding food and energy. This measurement, known as "Core CPI," is widely used by economists because food and energy have very volatile prices. The Bureau of Labor Statistics defines and measures the official CPI, and more information can be found in the FAQ (https://www.bls.gov/cpi/questions-and-answers.htm) or in this article (https://www.bls.gov/opub/hom/pdf/cpihom.pdf).
View the average 10-year expectation for the inflation rate among market participants, based upon Treasury securities.
The breakeven inflation rate represents a measure of expected inflation derived from 5-Year Treasury Constant Maturity Securities (BC_5YEAR) and 5-Year Treasury Inflation-Indexed Constant Maturity Securities (TC_5YEAR). The latest value implies what market participants expect inflation to be in the next 5 years, on average. Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. International Monetary Fund, International Financial Statistics and data files.
View a measure of the average expected inflation over the five-year period that begins five years from the date data are reported.
View data of the CPI, or an inflation measure derived from tracking the changes in the weighted-average price of a basket of common goods and services.
BEA Account Code: DPCCRG The Personal Consumption Expenditures Price Index is a measure of the prices that people living in the United States, or those buying on their behalf, pay for goods and services. The change in the PCE price index is known for capturing inflation (or deflation) across a wide range of consumer expenses and reflecting changes in consumer behavior. For example, if car prices rise, car sales may decline while bicycle sales increase. The PCE Price Index is produced by the Bureau of Economic Analysis (BEA), which revises previously published PCE data to reflect updated information or new methodology, providing consistency across decades of data that's valuable for researchers. They also offer the series as a Chain-Type index and excluding food and energy products, as above. The PCE price index less food excluding food and energy is used primarily for macroeconomic analysis and forecasting future values of the PCE price index. The PCE Price Index is similar to the Bureau of Labor Statistics' consumer price index for urban consumers. The two indexes, which have their own purposes and uses, are constructed differently, resulting in different inflation rates. For more information on the PCE price index, see: U.S. Bureau of Economic Analysis, Guide to the National Income and Product Accounts of the United States (NIPA) (https://www.bea.gov/national/pdf/nipaguid.pdf) U.S. Bureau of Economic Analysis, Personal Consumption Expenditures Price Index (https://www.bea.gov/data/personal-consumption-expenditures-price-index) U.S. Bureau of Economic Analysis, Prices & Inflation (https://www.bea.gov/resources/learning-center/what-to-know-prices-inflation) U.S. Bureau of Labor Statistics, Differences between the Consumer Price Index and the Personal Consumption Expenditure Price Index (https://www.bls.gov/opub/btn/archive/differences-between-the-consumer-price-index-and-the-personal-consumption-expenditures-price-index.pdf)
Median expected price change next 12 months, Surveys of Consumers. The most recent value is not shown due to an agreement with the source. This data should be cited as follows: "Surveys of Consumers, University of Michigan, University of Michigan: Inflation Expectation© [MICH], retrieved from FRED, Federal Reserve Bank of St. Louis https://fred.stlouisfed.org/series/MICH/, (Accessed on date)" Copyright, 2016, Surveys of Consumers, University of Michigan. Reprinted with permission.
The Federal Reserve Bank of Cleveland estimates the expected rate of inflation over the next 30 years along with the inflation risk premium, the real risk premium, and the real interest rate. Their estimates are calculated with a model that uses Treasury yields, inflation data, inflation swaps, and survey-based measures of inflation expectations. For more information, please visit the <a href="https://www.clevelandfed.org/indicators-and-data/inflation-expectations#background">Federal Reserve Bank of Cleveland<a/>.
The Sticky Price Consumer Price Index (CPI) is calculated from a subset of goods and services included in the CPI that change price relatively infrequently. Because these goods and services change price relatively infrequently, they are thought to incorporate expectations about future inflation to a greater degree than prices that change on a more frequent basis. One possible explanation for sticky prices could be the costs firms incur when changing price. To obtain more information about this release see: Michael F. Bryan, and Brent H. Meyer. “Are Some Prices in the CPI More Forward Looking Than Others? We Think So.” Economic Commentary (Federal Reserve Bank of Cleveland) (May 19, 2010): 1–6. https://doi.org/10.26509/frbc-ec-201002 (https://doi.org/10.26509/frbc-ec-201002).
BEA Account Code: DPCCRV For more information about this series, please see http://www.bea.gov/national/.
The Federal Reserve Bank of Cleveland estimates the expected rate of inflation over the next 30 years along with the inflation risk premium, the real risk premium, and the real interest rate. Their estimates are calculated with a model that uses Treasury yields, inflation data, inflation swaps, and survey-based measures of inflation expectations. For more information, please visit the <a href="https://www.clevelandfed.org/indicators-and-data/inflation-expectations#background">Federal Reserve Bank of Cleveland<a/>.
The Federal Reserve Bank of Cleveland estimates the expected rate of inflation over the next 30 years along with the inflation risk premium, the real risk premium, and the real interest rate. Their estimates are calculated with a model that uses Treasury yields, inflation data, inflation swaps, and survey-based measures of inflation expectations. For more information, please visit the <a href="https://www.clevelandfed.org/indicators-and-data/inflation-expectations#background">Federal Reserve Bank of Cleveland<a/>.
The Trimmed Mean PCE inflation rate produced by the Federal Reserve Bank of Dallas is an alternative measure of core inflation in the price index for personal consumption expenditures (PCE). The data series is calculated by the Dallas Fed, using data from the Bureau of Economic Analysis (BEA). Calculating the trimmed mean PCE inflation rate for a given month involves looking at the price changes for each of the individual components of personal consumption expenditures. The individual price changes are sorted in ascending order from “fell the most” to “rose the most,” and a certain fraction of the most extreme observations at both ends of the spectrum are thrown out or trimmed. The inflation rate is then calculated as a weighted average of the remaining components. The trimmed mean inflation rate is a proxy for true core PCE inflation rate. The resulting inflation measure has been shown to outperform the more conventional “excluding food and energy” measure as a gauge of core inflation.
The Federal Reserve Bank of Cleveland estimates the expected rate of inflation over the next 30 years along with the inflation risk premium, the real risk premium, and the real interest rate. Their estimates are calculated with a model that uses Treasury yields, inflation data, inflation swaps, and survey-based measures of inflation expectations. For more information, please visit the <a href="https://www.clevelandfed.org/indicators-and-data/inflation-expectations#background">Federal Reserve Bank of Cleveland<a/>.
The breakeven inflation rate represents a measure of expected inflation derived from 30-Year Treasury Constant Maturity Securities (BC_30YEAR) and 30-Year Treasury Inflation-Indexed Constant Maturity Securities (TC_30YEAR). The latest value implies what market participants expect inflation to be in the next 30 years, on average. Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).
Handbook of Methods - (https://www.bls.gov/opub/hom/pdf/cpihom.pdf) Understanding the CPI: Frequently Asked Questions - (http://stats.bls.gov:80/cpi/cpifaq.htm)
The Federal Reserve Bank of Cleveland estimates the expected rate of inflation over the next 30 years along with the inflation risk premium, the real risk premium, and the real interest rate. Their estimates are calculated with a model that uses Treasury yields, inflation data, inflation swaps, and survey-based measures of inflation expectations. For more information, please visit the <a href="https://www.clevelandfed.org/indicators-and-data/inflation-expectations#background">Federal Reserve Bank of Cleveland<a/>.
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. International Monetary Fund, International Financial Statistics and data files.
Handbook of Methods - (https://www.bls.gov/opub/hom/pdf/cpihom.pdf) Understanding the CPI: Frequently Asked Questions - (http://stats.bls.gov:80/cpi/cpifaq.htm)
The breakeven inflation rate represents a measure of expected inflation derived from 20-Year Treasury Constant Maturity Securities (BC_20YEARM) and 20-Year Treasury Inflation-Indexed Constant Maturity Securities (TC_20YEARM). The latest value implies what market participants expect inflation to be in the next 20 years, on average. Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).
BEA Account Code: DPCCRG For more information about this series, please see http://www.bea.gov/national/.
The Federal Reserve Bank of Cleveland estimates the expected rate of inflation over the next 30 years along with the inflation risk premium, the real risk premium, and the real interest rate. Their estimates are calculated with a model that uses Treasury yields, inflation data, inflation swaps, and survey-based measures of inflation expectations. For more information, please visit the <a href="https://www.clevelandfed.org/indicators-and-data/inflation-expectations#background">Federal Reserve Bank of Cleveland<a/>.
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. International Monetary Fund, International Financial Statistics and data files.
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. International Monetary Fund, International Financial Statistics and data files.
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. International Monetary Fund, International Financial Statistics and data files.
BEA Account Code: DPCCRC For more information about this series, please see http://www.bea.gov/national/.
OECD descriptor ID: CPHPLA01 OECD unit ID: GP OECD country ID: EA19All OECD data should be cited as follows: OECD,"Main Economic Indicators - complete database"Main Economic Indicators(database)http://dx.doi.org/10.1787/data-00052-en(Accessed on date)Copyright, 2016, OECD. Reprinted with permission.
The breakeven inflation rate represents a measure of expected inflation derived from 7-Year Treasury Constant Maturity Securities (BC_7YEARM) and 7-Year Treasury Inflation-Indexed Constant Maturity Securities (TC_7YEARM). The latest value implies what market participants expect inflation to be in the next 7 years, on average. Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).
View data of the CPI, or an inflation measure derived from tracking the changes in the weighted-average price of a basket of common goods and services.
The Flexible Price Consumer Price Index (CPI) is calculated from a subset of goods and services included in the CPI that change price relatively frequently. Because flexible prices are quick to change, it assumes that when these prices are set, they incorporate less of an expectation about future inflation. Evidence suggests that this flexible price measure is more responsive to changes in the current economic environment or the level of economic slack. To obtain more information about this release see: Michael F. Bryan, and Brent H. Meyer. “Are Some Prices in the CPI More Forward Looking Than Others? We Think So.” Economic Commentary (Federal Reserve Bank of Cleveland) (May 19, 2010): 1–6. https://doi.org/10.26509/frbc-ec-201002 (https://doi.org/10.26509/frbc-ec-201002).
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. International Monetary Fund, International Financial Statistics and data files.
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. International Monetary Fund, International Financial Statistics and data files.
The Federal Reserve Bank of Cleveland estimates the expected rate of inflation over the next 30 years along with the inflation risk premium, the real risk premium, and the real interest rate. Their estimates are calculated with a model that uses Treasury yields, inflation data, inflation swaps, and survey-based measures of inflation expectations. For more information, please visit the <a href="https://www.clevelandfed.org/indicators-and-data/inflation-expectations#background">Federal Reserve Bank of Cleveland<a/>.
BEA Account Code: DPCCRV For more information about this series, please see http://www.bea.gov/national/.
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. International Monetary Fund, International Financial Statistics and data files.