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Inflation Update: The Components of the Consumer Price Index

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.

Graphic displaying breakdown of price changes on goods and services in the U.S. over the past year (2014)

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  • Inflation Update: The Components of the Consumer Price Index