Inflation Update: The Components of the Consumer Price Index
August 11, 2014
Overall U.S. inflation over the past year (as of 5/31/14) has been a moderate 2.1%, below the long-term average, of 3.0%. This is a national average, and it will feel very different depending on your buying habits as well as the region you are in.
In general, though, if you are paying for a college education, hospital services, or eating a lot of protein (meat/fish/eggs), you have probably noticed the higher prices. On the other hand, if you are in the market for a new TV, computer, or toys, you are likely to find a lower price this year.
This graphic provides a look under the hood at the breakdown of price changes on goods and services in the U.S. over the past year.