What Happened With Inflation?

Every summary we've sent on Inflation since January 1, 2025, newest first, each linked to its source. Each brief goes up here 14 days after our readers get it by text the morning it happens. Get today's brief here.

The Latest on Inflation

Thursday, September 17, 2026

Full Brief
  1. 2

    Fed Reserve votes (12-0) to raise US benchmark interest rate (1st time in 3yrs) by 0.25 percentage points to 3.75%-4%, citing efforts to bring elevated inflation back to 2% target

Every Summary on Inflation

September 20262 Summaries

  1. Thursday, September 17, 2026Full Brief
    1. 2

      Fed Reserve votes (12-0) to raise US benchmark interest rate (1st time in 3yrs) by 0.25 percentage points to 3.75%-4%, citing efforts to bring elevated inflation back to 2% target

  2. Friday, September 11, 2026Full Brief
    1. 4

      US wholesale inflation measure (Producer Price Index) rises +0.4% in Aug, up 5.4% annually (vs 4.8% in Jul); Goods prices rise +1.1%, driven by energy (+4.2%), led by diesel (+24%)

August 20264 Summaries

  1. Thursday, August 27, 2026Full Brief
    1. 5

      Fed-preferred inflation gauge (Personal Consumption Expenditures price index) flat at 3.7% in Jul; Personal savings rate (income after taxes & expenses) rises to 3% in Jul (vs 2.7% in Jun) as personal income grows +0.4% & spending +0.2%

  2. Wednesday, August 26, 2026Full Brief
    1. 4

      Gold price rises to 3mo high of $4.7K/oz in Aug (15% vs $4K at start of Aug) amid Iran war uncertainty, US inflation concerns & demand for "safe-haven" assets that historically hold value during market volatility

  3. Thursday, August 13, 2026Full Brief
    1. 2

      US Consumer Price Index (primary measure of inflation) falls -0.4% in Jun (largest monthly decline since Apr 2020) up +3.5% annually (vs +4.2% in May); Energy prices fall -5.7%, led by gasoline dropping -9.7%, driving overall CPI decline

  4. Monday, August 3, 2026Full Brief
    1. 4

      Fed's preferred inflation gauge (Personal Consumption Expenditures price index) falls to 3.7% in Jun (vs 4.1% in May); Consumer spending rises +0.3% as personal income rises +0.2% & saving rate falls to 2.7% (vs 2.8% in May)

July 20264 Summaries

  1. Thursday, July 30, 2026Full Brief
    1. 4

      Fed Reserve holds key interest rate at 3.5%-3.75%, citing elevated inflation partly driven by energy supply shocks, with solid economic growth & little changed unemployment rate

  2. Thursday, July 16, 2026Full Brief
    1. 4

      US wholesale inflation measure (Producer Price Index) falls -0.3% in Jun (+5.5% annually); Decline led by -6.4% drop in energy prices, with gasoline falling -12%

  3. Wednesday, July 15, 2026Full Brief
    1. 5

      US Consumer Price Index (primary measure of inflation) falls -0.4% in Jun, up +3.5% annually (lowest since Feb 2025) led by energy prices falling -5.7%; Core inflation (excludes food & energy) slows to 2.6% annually (vs 2.9% in May)

  4. Thursday, July 9, 2026Full Brief
    1. 5

      International Monetary Fund: Global consumer price inflation rises to 4.7% in 2026 (vs 4.1% in 2025) stalling disinflation (slowdown in price growth) trend that began early 2024 as higher energy & food prices fuel inflation

June 20265 Summaries

  1. Friday, June 26, 2026Full Brief
    1. 1

      Fed-preferred inflation gauge (Personal Consumption Expenditures price index) rises to 4.1% in May (vs 3.8% in Apr) highest since Apr 2023; Consumer spending & personal income both rise 0.7%

  2. Thursday, June 18, 2026Full Brief
    1. 1

      Fed Reserve holds key interest rates at 3.5%-3.75% in unanimous vote (12-0) citing "solid economic growth & elevated inflation amid Middle East-driven energy supply shocks"

  3. Friday, June 12, 2026Full Brief
    1. 5

      US wholesale inflation measure (Producer Price Index) rises 1.1% in May (+6.5% annually, largest increase since 2022); Increase led by +10.7% jump in energy prices as gasoline surges +23.4%

    2. 6

      European Central Bank raises interest rates for 1st time since 2023, increasing deposit rate to 2.25% (vs 2% previously) citing "inflation pressures from Middle East war"

  4. Thursday, June 11, 2026Full Brief
    1. 4

      US Consumer Price Index (primary measure of inflation) rises to 3yr high of 4.2% annually (vs 3.8% Apr) driven by energy prices jumping 23.5%; Core inflation (excluding food & energy) rises 2.9% annually

May 20265 Summaries

  1. Friday, May 29, 2026Full Brief
    1. 4

      Fed-preferred inflation gauge (Personal Consumption Expenditures price index) rises to 3.8% in Apr (vs 3.5% in Mar); Personal savings rate (income after taxes & expenses) falls to 2.6% in Apr (vs 3.6% in Mar) lowest since Jun 2022

  2. Thursday, May 14, 2026Full Brief
    1. 2

      US Senate confirms (54-45) Trump pick Kevin Warsh as Fed Reserve chair ahead of Jerome Powell's term ending Fri; Warsh will begin 4yr term leading world's most powerful central bank amid rising inflation & pressure to lower interest rates

    2. 4

      US wholesale inflation measure (Producer Price Index) rises +1.4% in Apr (largest increase since Mar 2022); Increase driven by +7.8% jump in energy prices & gas rising +15.6%

  3. Wednesday, May 13, 2026Full Brief
    1. 1

      US Consumer Price Index (primary measure of inflation) rises +0.6% in Apr, up +3.8% annually (highest since May 2023), led by energy prices jumping +18%; Core inflation (excludes food & energy) rises +0.4% monthly

  4. Tuesday, May 12, 2026Full Brief
    1. 3

      US consumer confidence in insurance firms (record-low), Fed Reserve & commercial banks fall in 2026 with 55% "less confident" amid inflation concerns, rising insurance costs & Fed independence threats

April 20263 Summaries

  1. Thursday, April 30, 2026Full Brief
    1. 1

      Fed Reserve holds key interest rates at 3.5%-3.75%, citing "solid economic activity, stable unemployment & elevated inflation amid Middle East-driven uncertainty"

  2. Thursday, April 16, 2026Full Brief
    1. 3

      US wholesale inflation measure (Producer Price Index) rises +0.5% in Mar, up +4% annually (fastest since Feb 2023); Increase driven by +1.6% jump in goods prices (energy +8.5%, gasoline +15.7%)

  3. Monday, April 13, 2026Full Brief
    1. 4

      US Consumer Price Index (primary measure of inflation) rises +0.9% monthly in Mar (vs +0.3% in Feb) up +3.3% annually, led by energy rising +11% (largest since 2005) & gasoline +21% (largest since 1967); Core inflation (excludes food & energy) rises +0.2% monthly

March 20264 Summaries

  1. Thursday, March 19, 2026Full Brief
    1. 1

      Fed Reserve holds key interest rates at 3.5%-3.75%, citing "solid economic growth, steady unemployment & elevated inflation amid elevated uncertain outlook"

    2. 5

      US wholesale inflation measure (Producer Price Index) rises +0.7% in Feb (vs +0.3% forecast), up +3.4% annually; Increase driven by surge in goods prices (food, energy) & higher service costs

  2. Thursday, March 12, 2026Full Brief
    1. 3

      US Consumer Price Index (primary measure of inflation) rises +0.3% monthly in Feb (vs +0.2% in Jan) up +2.4% annually, led by shelter costs rising +0.2%; Core inflation (excludes food & energy) rises +0.2% monthly

  3. Friday, March 6, 2026Full Brief
    1. 5

      China sets 2026 economy growth (measured by GDP) target at 4.5-5%, lowest since 1991; Beijing also targets 5.5% urban unemployment, 12M+ new jobs & 2% inflation

February 20263 Summaries

  1. Wednesday, February 25, 2026Full Brief
    1. 1

      US consumer confidence rises to 91.2 in Feb (vs 89 in Jan) as outlook improves despite persistent pessimism over prices, inflation, tariffs & politics

  2. Monday, February 16, 2026Full Brief
    1. 1

      US Consumer Price Index (primary measure of inflation) slows to +2.4% annually in Jan (vs +2.7% Dec), led by shelter rising +0.2%; Core inflation (excludes food & energy) rises +0.3% monthly with energy prices falling -1.5%

  3. Friday, February 13, 2026Full Brief
    1. 3

      US falls to record-low ranking (29th of 182) in Transparency International's global corruption index, hitting lowest-ever Corruption Perceptions Index (CPI) score of 64 (vs 76 in 2015) & extending decade-long decline; Denmark tops index (89), S Sudan & Somalia (9) rank lowest

January 20264 Summaries

  1. Thursday, January 29, 2026Full Brief
    1. 1

      Fed Reserve holds key interest rates at 3.5%-3.75%, citing "solid economic activity, low job gains, stabilizing unemployment & inflation that remains above target amid elevated uncertainty"

  2. Wednesday, January 28, 2026Full Brief
    1. 3

      US consumer confidence falls to 84.5 in Jan (lowest since 2014, surpassing 85.7 pandemic depths in 2020) as inflation, prices, politics, tariffs, labor worries weigh on outlook

  3. Wednesday, January 14, 2026Full Brief
    1. 3

      US Consumer Price Index (primary measure of inflation) rises +0.3% in Dec, up +2.7% annually (unchanged vs Nov), led by shelter costs jumping +3.2%; Core inflation (excludes food & energy) rises +0.2%

  4. Wednesday, January 7, 2026Full Brief
    1. 1

      Minimum wage hikes take effect across 19 US states, lifting pay for ~8M workers via inflation adjustments, new laws & ballot measures, with several states raising to $15/hr+ & Washington setting highest state rate at $17.13

December 20255 Summaries

  1. Wednesday, December 24, 2025Full Brief
    1. 2

      US consumer confidence falls to 89.1 in Dec (5th straight monthly decline, lowest since 85.7 tariff rollout-driven low in Apr) as inflation, tariffs & job worries weigh on outlook

  2. Tuesday, December 23, 2025Full Brief
    1. 5

      Bank of Japan raises key interest rates by quarter-point to 0.75% (highest in ~30yrs) citing sustained wage growth & progress toward 2% inflation target

  3. Friday, December 19, 2025Full Brief
    1. 1

      US Consumer Price Index (primary measure of inflation) rises +0.2% over Sep-Nov, up +2.7% annually (lowest since Jul); Core inflation (excludes food & energy) up +0.2%, with energy prices rising +4.2% year-over-year

  4. Thursday, December 11, 2025Full Brief
    1. 1

      Fed Reserve cuts key interest rates by 0.25% to 3.5-3.75% (3rd cut in 2025) citing balanced risks with moderating inflation, slowed job gains & rising unemployment

  5. Tuesday, December 9, 2025Full Brief
    1. 1

      Trump unveils $12B farm aid package, including $11B in payments to row-crop farmers & $1B for specialty crops to "help offset low prices, inflation & reduced exports to China"

November 20251 Summary

  1. Monday, November 17, 2025Full Brief
    1. 1

      White House excludes 200+ agricultural products including coffee, beef, fruits & nuts from "reciprocal tariffs" list amid inflation concerns

October 20254 Summaries

  1. Tuesday, October 28, 2025Full Brief
    1. 2

      Social Security announces +2.8% benefit increase for 2026 (avg $57/mo) for 71M beneficiaries starting Jan to keep pace with inflation

  2. Monday, October 27, 2025Full Brief
    1. 1

      US Consumer Price Index (primary measure of inflation) rises +0.3% in Sep, up +3% annually (highest since Jan), led by gas prices jumping +4%; Core inflation (excludes food & energy) rises +0.2%

  3. Tuesday, October 21, 2025Full Brief
    1. 5

      Bolivia elects centrist senator Rodrigo Paz as president, ending nearly 20yrs of leftist rule; New president faces 40yr high inflation, fuel shortages & plummeting gas exports

  4. Friday, October 10, 2025Full Brief
    1. 2

      IRS raises 2026 federal tax brackets & standard deductions to offset inflation; Highest 37% income tax rate now applies to incomes of $641K+/yr for individuals (vs previous $626K) & $769K for couples (vs $752K); Standard deduction rises to $32K for joint filers (vs $30K) & $16K for single (vs $15K)

September 20255 Summaries

  1. Thursday, September 18, 2025Full Brief
    1. 1

      Fed Reserve cuts key interest rates by quarter-point to 4.1% (1st cut this year) as weakening labor market outweighs inflation concerns

  2. Friday, September 12, 2025Full Brief
    1. 2

      US Consumer Price Index (primary measure of inflation) rises 0.4% in Aug (biggest in 7 months), up +2.9% annually, led by higher housing & food costs; Core inflation (excludes food & energy) up +0.3%

    2. 6

      European Central Bank holds key interest rates steady at 2% for 2nd consecutive time amid US tariff uncertainty; Cites inflation hovering around 2% target but notes trade policy volatility creates "more uncertain" outlook

  3. Thursday, September 11, 2025Full Brief
    1. 1

      US wholesale inflation measure (Producer Price Index) falls -0.1% in Aug (vs +0.3% forecast), up +2.6% annually; Decline driven by falling service-sector margins as businesses absorb tariff costs

  4. Tuesday, September 2, 2025Full Brief
    1. 1

      Fed preferred inflation gauge (Personal Consumption Expenditures price index) holds at 2.6% in Jul as tariffs weigh; Core inflation (excluding food & energy) rises to 2.9% (highest since Feb); Consumer spending up +0.5% (biggest since Mar) as incomes rise +0.4%

August 20254 Summaries

  1. Friday, August 15, 2025Full Brief
    1. 4

      US wholesale inflation measure (Producer Price Index) surges 0.9% in Jul (vs 0.2% estimate) in biggest monthly jump in 3yrs, driven by services prices rising; PPI up 3.3% annually

  2. Thursday, August 14, 2025Full Brief
    1. 6

      Australian central bank cuts key interest rates to 3.6% (3rd cut this year) as core inflation hits 3yr low of 2.7% (vs 1.9% in 2022) & unemployment rises to 4.3% (vs 4.2% in 2022)

  3. Wednesday, August 13, 2025Full Brief
    1. 2

      Primary inflation gauge (Consumer Price Index) rises 2.7% annually in Jul (unchanged vs Jun) & 0.2% monthly as gas prices fall 2.2%; Core inflation (excludes food & energy) rises to 3.1% (vs 2.9% Jun) driven by rise in airline fares, healthcare, dental costs, & tariff-hit goods

  4. Monday, August 11, 2025Full Brief
    1. 4

      Bank of England cuts key interest rates from 4.25% to 4% (5th cut since Aug 2024) in historic split requiring 2nd vote (1st time since 1997) amid high inflation, rising unemployment & declining economy

July 20251 Summary

  1. Wednesday, July 16, 2025Full Brief
    1. 4

      Primary measure of inflation (Consumer Price Index) rises to 2.7% annually in Jun (vs 2.4% May) as Trump's tariffs impact prices; Yale Budget Lab: Americans face 19% avg tariff rate (highest since 1933) including 30% on China, 50% on steel/aluminum, 25% on auto/parts & 10% universal tariff

June 20255 Summaries

  1. Thursday, June 19, 2025Full Brief
    1. 7

      Fed Reserve holds interest rates steady (4.25-4.5%) to wait before corrective action; Chair Powell "beginning to see effects of tariffs" on inflation

  2. Thursday, June 12, 2025Full Brief
    1. 4

      Primary inflation gauge (Consumer Price Index) rises +2.4% annually in May, slightly below expectations

  3. Friday, June 6, 2025Full Brief
    1. 5

      European Central Bank cuts interest rates from 2.25% to 2% in 8th 0.25 percentage point cut this year to reduce borrowing cost for the 20-member currency bloc targeted by Trump's trade war; Eurozone inflation fell to 1.9% in May for 1st time since Sep 2024

  4. Thursday, June 5, 2025Full Brief
    1. 2

      EU approves Bulgaria to become 21st country to adopt euro in 2026 after failing to meet inflation criteria in 2024; Pro-Russian populist opposition challenges euro's adoption in favor of Bulgaria's lev currency

  5. Monday, June 2, 2025Full Brief
    1. 3

      Fed's preferred Personal Consumption Expenditures index shows Apr inflation rising 0.1% monthly & 2.1% annually, below expectations

May 20252 Summaries

  1. Friday, May 16, 2025Full Brief
    1. 2

      Wholesale inflation measure (Producer Price Index) drops -0.5% in Apr (vs +0.2% estimate) in biggest monthly drop in 5yrs, driven by decline in services prices; Indicates that businesses absorbed early tariff costs; PPI up 2.4% annually

  2. Thursday, May 8, 2025Full Brief
    1. 5

      Fed Reserve holds interest rates steady (4.25-4.5% target range) in dual concern of inflation & slowing economic growth arising from trade war; Despite Fed independence, Trump repeatedly called for lower interest rates

April 20252 Summaries

  1. Friday, April 11, 2025Full Brief
    1. 3

      Wholesale inflation (Producer Price Index) falls -0.4% in Mar vs +0.2% forecast, up 2.7% annually; Favorable decline is driven by 11% drop in gas prices

  2. Thursday, April 10, 2025Full Brief
    1. 4

      Primary inflation gauge (Consumer Price Index) slows more than expected, rising 2.4% annually in Mar below 2.6% forecast & 2.8% in Feb; Core inflation (excludes food & energy) hits 2.8%, lowest since Mar 2021

March 20255 Summaries

  1. Monday, March 31, 2025Full Brief
    1. 5

      Fed's preferred inflation gauge (core PCE price index) rises 2.8% in Feb vs last year, above 2.7% expectations

  2. Thursday, March 20, 2025Full Brief
    1. 2

      Fed Reserve keeps interest rate range at current 4.25-4.5% yet signals 2 possible 2025 cuts, citing "economic uncertainty"; Annual economic growth forecast lowered to 1.7% (vs 2.1%) & inflation raised to 2.8% (vs 2.5%)

  3. Thursday, March 13, 2025Full Brief
    1. 3

      Primary measure of inflation (Consumer Price Index) slows 1st time since Sep, rising 2.8% annually in Feb below 2.9% forecast & 3% in Jan

  4. Monday, March 10, 2025Full Brief
    1. 7

      China's consumer price index turns negative for 1st time in 13mo, signaling deflation amid domestic consumption struggles; Parliament since set lowest inflation target in 2+ decades (~2% vs 3%+ in prior years)

  5. Friday, March 7, 2025Full Brief
    1. 4

      European Central Bank cuts interest rate by 0.25 percentage points to 2.5% as inflation eases but economic growth remains weak

January 20254 Summaries

  1. Thursday, January 30, 2025Full Brief
    1. 6

      European Central Bank cuts interest rates by 0.25 percentage points to 2.75% as concerns over zero economic growth in 2024 surpass concerns of inflation

  2. Wednesday, January 15, 2025Full Brief
    1. 2

      Primary measure of inflation Consumer Price Index rose 2.9% in 2024 per expectations driven by gas price gains, decrease vs. 3.4% rise in 2023

  3. Tuesday, January 14, 2025Full Brief
    1. 4

      2024 Producer Price Index marking wholesale level price inflation rose 3.3% on annual basis, far ahead of its 1.1% rise in 2023

  4. Tuesday, January 7, 2025Full Brief
    1. 1

      Canadian PM Justin Trudeau resigns as PM & Liberal leader amid party discontent; 53yo Trudeau led Liberal Party for 11yrs & as PM for 9yrs; His 65% approval in 2015 decreased to 20% now amid inflation, housing crisis & immigration criticisms; Liberal Party seeks replacement

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