PlanetaryInsights

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    U.S. headline CPI inflation

    Projected change in the all-items consumer price index.

    United States / Global · %86 extracted figures9 institutions5 comparable groups

    Revisions on this metric

    30 on record
    2026-09-17Cleveland Fed 2026 Q3 · Quarterly annualized1.35→1.44
    2026-09-12Cleveland Fed 2026 Q3 · Quarterly annualized1.24→1.35
    2026-09-11Cleveland Fed 2026 Q3 · Quarterly annualized1.30→1.24
    2026-09-11Fannie Mae 2026 Q4 · Quarterly year-over-year3.3%→3.4
    2026-09-10Cleveland Fed 2026 Q3 · Quarterly annualized1.29→1.30
    2026-09-09Cleveland Fed 2026 Q3 · Quarterly annualized1.27→1.29
    2026-09-05Cleveland Fed 2026 Q3 · Quarterly annualized1.26→1.27
    2026-09-04Cleveland Fed 2026 Q3 · Quarterly annualized1.25→1.26
    2026-09-03Cleveland Fed 2026 Q3 · Quarterly annualized1.10→1.25
    2026-09-02Cleveland Fed 2026 Q3 · Quarterly annualized1.05→1.10
    2026-09-01Cleveland Fed 2026 Q3 · Quarterly annualized1.07→1.05
    2026-08-29Cleveland Fed 2026 Q3 · Quarterly annualized1.01→1.07
    2026-08-28Cleveland Fed 2026 Q3 · Quarterly annualized1.03→1.01
    2026-08-26Cleveland Fed 2026 Q3 · Quarterly annualized1.48%→1.03
    2026-02-01CBO 2025 full year · Annual growth2.827→2.767
    2026-02-01CBO 2026 full year · Annual growth2.744→2.924
    2026-02-01CBO 2027 full year · Annual growth2.249→2.547
    2026-02-01CBO 2028 full year · Annual growth2.213→2.361
    2025-09-01CBO 2025 full year · Annual growth2.235→2.827
    2025-09-01CBO 2026 full year · Annual growth2.441→2.744
    2025-09-01CBO 2027 full year · Annual growth2.315→2.249
    2025-09-01CBO 2028 full year · Annual growth2.257→2.213
    2025-01-01CBO 2024 full year · Annual growth3.193→2.923
    2025-01-01CBO 2025 full year · Annual growth2.43→2.235
    2025-01-01CBO 2026 full year · Annual growth2.232→2.441
    2025-01-01CBO 2027 full year · Annual growth2.155→2.315
    2024-06-01CBO 2024 full year · Annual growth2.597→3.193
    2024-06-01CBO 2025 full year · Annual growth2.515→2.43
    2024-06-01CBO 2026 full year · Annual growth2.325→2.232
    2024-06-01CBO 2027 full year · Annual growth2.188→2.155

    2027 full year · Annual growth

    3 institutions
    Forecasts by report dateUnited States
    1.70%2.12%2.55%CONSENSUSFEB 24MAY 25SEPT 26Fannie Mae · 1.7 · 2026-09-11IMF · 2.1 · 2026-04-08CBO · 2.547 · 2026-02-01CBO · 2.249 · 2025-09-01CBO · 2.315 · 2025-01-01CBO · 2.155 · 2024-06-01CBO · 2.188 · 2024-02-01CBO 2.188

    EmphasisedOther institutionsConsensus

    InstitutionPeriodReportedForecast
    Fannie Mae2027 full year“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 3.4 | 3.4 | 2.9 | 1.8 | 1.8 | 1.7 | 2.7 | 3.4 | 1.7 |” — Table, Consumer Price Index row, 2027 annual column · source ↗2026-09-111.7
    IMF2027 full year“{"indicator":"PCPIPCH","area":"USA","year":"2027","value":2.1}” — DataMapper PCPIPCH/USA · source ↗2026-04-082.1
    CBO2027 full year“2027,cpiu_pct_change,2.547,projected” — economic_projections/calendar_2026-02.csv, cpiu_pct_change · source ↗2026-02-012.547
    CBO2027 full year“2027,cpiu_pct_change,2.249,projected” — economic_projections/calendar_2025-09.csv, cpiu_pct_change · source ↗2025-09-012.249
    CBO2027 full year“2027,cpiu_pct_change,2.315,projected” — economic_projections/calendar_2025-01.csv, cpiu_pct_change · source ↗2025-01-012.315
    CBO2027 full year“2027,cpiu_pct_change,2.155,projected” — economic_projections/calendar_2024-06.csv, cpiu_pct_change · source ↗2024-06-012.155
    CBO2027 full year“2027,cpiu_pct_change,2.188,projected” — economic_projections/calendar_2024-02.csv, cpiu_pct_change · source ↗2024-02-012.188
    Readout
    Consensus
    2.12%
    Spread
    +0.85%
    Low
    1.70%
    High
    2.55%
    Reporting
    3
    Basis
    Annual growth

    2026 Q4 · Quarterly year-over-year

    3 institutions
    Forecasts by report dateUnited States
    2.80%3.10%3.40%CONSENSUSJUL 26AUG 26SEPT 26Fannie Mae · 3.4 · 2026-09-11Wells Fargo · 3.1% · 2026-07-30RBC · 2.8% · 2026-07-13Fannie Mae · 3.3% · 2026-07-10Fannie Mae 3.3%

    EmphasisedOther institutionsConsensus

    InstitutionPeriodReportedForecast
    Fannie Mae2026 Q4“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 3.4 | 3.4 | 2.9 | 1.8 | 1.8 | 1.7 | 2.7 | 3.4 | 1.7 |” — Table, Consumer Price Index row, 2026 Q4 column · source ↗2026-09-113.4
    Wells Fargo2026 Q4“Consumer Price Index | 2026 4Q | 3.1” — U.S. Economic Forecast table · 2026 Q4 · source ↗2026-07-303.1%
    RBC2026 Q4“Headline CPI (y/y%) | 2026 Q4 | 2.8” — U.S. Forecast Detail · 2026 Q4 · source ↗2026-07-132.8%
    Fannie Mae2026 Q4“Consumer Price Index | 26.4 | 3.3” — Economic Forecast table · 2026 Q4 · source ↗2026-07-103.3%
    Readout
    Consensus
    3.10%
    Spread
    +0.60%
    Low
    2.80%
    High
    3.40%
    Reporting
    3
    Basis
    Quarterly year-over-year

    2026 full year · Annual growth

    3 institutions
    Forecasts by report dateUnited States
    2.23%3.17%3.40%CONSENSUSFEB 24MAY 25SEPT 26Fannie Mae · 3.4 · 2026-09-11IMF · 3.2 · 2026-04-08CBO · 2.924 · 2026-02-01CBO · 2.744 · 2025-09-01CBO · 2.441 · 2025-01-01CBO · 2.232 · 2024-06-01CBO · 2.325 · 2024-02-01CBO 2.325

    EmphasisedOther institutionsConsensus

    InstitutionPeriodReportedForecast
    Fannie Mae2026 full year“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 3.4 | 3.4 | 2.9 | 1.8 | 1.8 | 1.7 | 2.7 | 3.4 | 1.7 |” — Table, Consumer Price Index row, 2026 annual column · source ↗2026-09-113.4
    IMF2026 full year“{"indicator":"PCPIPCH","area":"USA","year":"2026","value":3.2}” — DataMapper PCPIPCH/USA · source ↗2026-04-083.2
    CBO2026 full year“2026,cpiu_pct_change,2.924,projected” — economic_projections/calendar_2026-02.csv, cpiu_pct_change · source ↗2026-02-012.924
    CBO2026 full year“2026,cpiu_pct_change,2.744,projected” — economic_projections/calendar_2025-09.csv, cpiu_pct_change · source ↗2025-09-012.744
    CBO2026 full year“2026,cpiu_pct_change,2.441,projected” — economic_projections/calendar_2025-01.csv, cpiu_pct_change · source ↗2025-01-012.441
    CBO2026 full year“2026,cpiu_pct_change,2.232,projected” — economic_projections/calendar_2024-06.csv, cpiu_pct_change · source ↗2024-06-012.232
    CBO2026 full year“2026,cpiu_pct_change,2.325,projected” — economic_projections/calendar_2024-02.csv, cpiu_pct_change · source ↗2024-02-012.325
    Readout
    Consensus
    3.17%
    Spread
    +0.48%
    Low
    2.92%
    High
    3.40%
    Reporting
    3
    Basis
    Annual growth

    2028 full year · Annual growth

    2 institutions
    Forecasts by report dateUnited States
    2.20%2.28%2.36%CONSENSUSJAN 25AUG 25APR 26IMF · 2.2 · 2026-04-08CBO · 2.361 · 2026-02-01CBO · 2.213 · 2025-09-01CBO · 2.257 · 2025-01-01CBO 2.257

    EmphasisedOther institutionsConsensus

    InstitutionPeriodReportedForecast
    IMF2028 full year“{"indicator":"PCPIPCH","area":"USA","year":"2028","value":2.2}” — DataMapper PCPIPCH/USA · source ↗2026-04-082.2
    CBO2028 full year“2028,cpiu_pct_change,2.361,projected” — economic_projections/calendar_2026-02.csv, cpiu_pct_change · source ↗2026-02-012.361
    CBO2028 full year“2028,cpiu_pct_change,2.213,projected” — economic_projections/calendar_2025-09.csv, cpiu_pct_change · source ↗2025-09-012.213
    CBO2028 full year“2028,cpiu_pct_change,2.257,projected” — economic_projections/calendar_2025-01.csv, cpiu_pct_change · source ↗2025-01-012.257
    Readout
    Consensus
    2.28%
    Spread
    +0.16%
    Low
    2.20%
    High
    2.36%
    Reporting
    2
    Basis
    Annual growth

    2029 full year · Annual growth

    2 institutions
    Forecasts by report dateUnited States
    2.20%2.24%2.29%CONSENSUSFEB 26MAR 26APR 26IMF · 2.2 · 2026-04-08CBO · 2.288 · 2026-02-01CBO 2.288

    EmphasisedOther institutionsConsensus

    InstitutionPeriodReportedForecast
    IMF2029 full year“{"indicator":"PCPIPCH","area":"USA","year":"2029","value":2.2}” — DataMapper PCPIPCH/USA · source ↗2026-04-082.2
    CBO2029 full year“2029,cpiu_pct_change,2.288,projected” — economic_projections/calendar_2026-02.csv, cpiu_pct_change · source ↗2026-02-012.288
    Readout
    Consensus
    2.24%
    Spread
    +0.09%
    Low
    2.20%
    High
    2.29%
    Reporting
    2
    Basis
    Annual growth

    2025 full year · Annual average

    1 institution
    Single reported figureGlobal
    InstitutionPeriodReportedForecast
    Morgan Stanley2025 full year“Inflation is likely to continue losing steam globally except for the U.S., slowing to 2.1% in 2025 and 2% in 2026, from 2.4% in 2024.” — Central Banks and Fiscal Policy section · source ↗2025-05-282.1%
    Readout
    Low
    2.10%
    High
    2.10%
    Reporting
    1
    Basis
    Annual average

    One institution reporting — no consensus is claimed.

    2025 full year · Annual growth

    1 institution
    Single reported figureGlobal
    InstitutionPeriodReportedForecast
    Morgan Stanley2025 full year“Inflation is likely to continue losing steam globally except for the U.S., slowing to 2.1% in 2025 and 2% in 2026, from 2.4% in 2024.” — Central Banks and Fiscal Policy, paragraph beginning “Inflation is likely” · source ↗2025-05-282.1% in 2025
    Readout
    Low
    2.10%
    High
    2.10%
    Reporting
    1
    Basis
    Annual growth

    One institution reporting — no consensus is claimed.

    2026 full year · Annual average

    1 institution
    Single reported figureGlobal
    InstitutionPeriodReportedForecast
    Morgan Stanley2026 full year“Inflation is likely to continue losing steam globally except for the U.S., slowing to 2.1% in 2025 and 2% in 2026, from 2.4% in 2024.” — Central Banks and Fiscal Policy section · source ↗2025-05-282%
    Readout
    Low
    2.00%
    High
    2.00%
    Reporting
    1
    Basis
    Annual average

    One institution reporting — no consensus is claimed.

    2026 full year · Annual growth

    1 institution
    Single reported figureGlobal
    InstitutionPeriodReportedForecast
    Morgan Stanley2026 full year“Inflation is likely to continue losing steam globally except for the U.S., slowing to 2.1% in 2025 and 2% in 2026, from 2.4% in 2024.” — Central Banks and Fiscal Policy, paragraph beginning “Inflation is likely” · source ↗2025-05-282% in 2026
    Readout
    Low
    2.00%
    High
    2.00%
    Reporting
    1
    Basis
    Annual growth

    One institution reporting — no consensus is claimed.

    1 year ahead · Median household expectation

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    New York Fed1 year ahead“Median inflation expectations decreased by 0.1 percentage point (ppt) to 3.6 percent at the one-year-ahead horizon in July, while remaining unchanged at the three- and five-year-ahead horizons at 3.3 percent and 3.0 percent, respectively.” — July Survey summary, first bullet · source ↗2026-08-303.6 percent
    Readout
    Low
    3.60%
    High
    3.60%
    Reporting
    1
    Basis
    Median household expectation

    One institution reporting — no consensus is claimed.

    2023 full year · Annual growth

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    CBO2023 full year“2023,cpiu_pct_change,4.12,projected” — economic_projections/calendar_2024-02.csv, cpiu_pct_change · source ↗2024-02-014.12
    Readout
    Low
    4.12%
    High
    4.12%
    Reporting
    1
    Basis
    Annual growth

    One institution reporting — no consensus is claimed.

    2024 full year · Annual growth

    1 institution
    Forecasts by report dateUnited States
    2.60%2.92%3.19%CONSENSUSFEB 24JUL 24JAN 25CBO · 2.923 · 2025-01-01CBO · 3.193 · 2024-06-01CBO · 2.597 · 2024-02-01CBO 2.597

    EmphasisedOther institutionsConsensus

    InstitutionPeriodReportedForecast
    CBO2024 full year“2024,cpiu_pct_change,2.923,projected” — economic_projections/calendar_2025-01.csv, cpiu_pct_change · source ↗2025-01-012.923
    CBO2024 full year“2024,cpiu_pct_change,3.193,projected” — economic_projections/calendar_2024-06.csv, cpiu_pct_change · source ↗2024-06-013.193
    CBO2024 full year“2024,cpiu_pct_change,2.597,projected” — economic_projections/calendar_2024-02.csv, cpiu_pct_change · source ↗2024-02-012.597
    Readout
    Low
    2.92%
    High
    2.92%
    Reporting
    1
    Basis
    Annual growth

    One institution reporting — no consensus is claimed.

    2025 full year · Annual growth

    1 institution
    Forecasts by report dateUnited States
    2.23%2.77%2.83%CONSENSUSFEB 24JAN 25FEB 26CBO · 2.767 · 2026-02-01CBO · 2.827 · 2025-09-01CBO · 2.235 · 2025-01-01CBO · 2.43 · 2024-06-01CBO · 2.515 · 2024-02-01CBO 2.515

    EmphasisedOther institutionsConsensus

    InstitutionPeriodReportedForecast
    CBO2025 full year“2025,cpiu_pct_change,2.767,projected” — economic_projections/calendar_2026-02.csv, cpiu_pct_change · source ↗2026-02-012.767
    CBO2025 full year“2025,cpiu_pct_change,2.827,projected” — economic_projections/calendar_2025-09.csv, cpiu_pct_change · source ↗2025-09-012.827
    CBO2025 full year“2025,cpiu_pct_change,2.235,projected” — economic_projections/calendar_2025-01.csv, cpiu_pct_change · source ↗2025-01-012.235
    CBO2025 full year“2025,cpiu_pct_change,2.43,projected” — economic_projections/calendar_2024-06.csv, cpiu_pct_change · source ↗2024-06-012.43
    CBO2025 full year“2025,cpiu_pct_change,2.515,projected” — economic_projections/calendar_2024-02.csv, cpiu_pct_change · source ↗2024-02-012.515
    Readout
    Low
    2.77%
    High
    2.77%
    Reporting
    1
    Basis
    Annual growth

    One institution reporting — no consensus is claimed.

    2026 Q3 · Quarterly annualized

    1 institution
    Forecasts by report dateUnited States
    1.01%1.44%1.48%CONSENSUSJUL 26AUG 26SEPT 26Cleveland Fed · 1.44 · 2026-09-22Cleveland Fed · 1.44 · 2026-09-21Cleveland Fed · 1.44 · 2026-09-20Cleveland Fed · 1.44 · 2026-09-19Cleveland Fed · 1.44 · 2026-09-18Cleveland Fed · 1.44 · 2026-09-17Cleveland Fed · 1.35 · 2026-09-16Cleveland Fed · 1.35 · 2026-09-15Cleveland Fed · 1.35 · 2026-09-14Cleveland Fed · 1.35 · 2026-09-13Cleveland Fed · 1.35 · 2026-09-12Cleveland Fed · 1.24 · 2026-09-11Cleveland Fed · 1.30 · 2026-09-10Cleveland Fed · 1.29 · 2026-09-09Cleveland Fed · 1.27 · 2026-09-08Cleveland Fed · 1.27 · 2026-09-07Cleveland Fed · 1.27 · 2026-09-06Cleveland Fed · 1.27 · 2026-09-05Cleveland Fed · 1.26 · 2026-09-04Cleveland Fed · 1.25 · 2026-09-03Cleveland Fed · 1.10 · 2026-09-02Cleveland Fed · 1.05 · 2026-09-01Cleveland Fed · 1.07 · 2026-08-31Cleveland Fed · 1.07 · 2026-08-30Cleveland Fed · 1.07 · 2026-08-29Cleveland Fed · 1.01 · 2026-08-28Cleveland Fed · 1.03 · 2026-08-27Cleveland Fed · 1.03 · 2026-08-26Cleveland Fed · 1.48% · 2026-07-27Cleveland Fed 1.48%

    EmphasisedOther institutionsConsensus

    InstitutionPeriodReportedForecast
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.44 | 2.16 | 2.50 | 3.00 | 09/21 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-221.44
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.44 | 2.16 | 2.50 | 3.00 | 09/18 |” — Inflation, quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-211.44
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.44 | 2.16 | 2.50 | 3.00 | 09/18 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-201.44
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.44 | 2.16 | 2.50 | 3.00 | 09/18 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-191.44
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.44 | 2.16 | 2.50 | 3.00 | 09/17 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-181.44
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.44 | 2.16 | 2.50 | 3.00 | 09/16 |” — Inflation, quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-171.44
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.35 | 2.16 | 2.44 | 3.00 | 09/15 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-161.35
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.35 | 2.16 | 2.44 | 3.00 | 09/14 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-151.35
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.35 | 2.16 | 2.44 | 3.00 | 09/11 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-141.35
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.35 | 2.16 | 2.44 | 3.00 | 09/11 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-131.35
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.35 | 2.16 | 2.44 | 3.00 | 09/11 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-121.35
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.24 | 1.91 | 2.47 | 3.00 | 09/10 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-111.24
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.30 | 1.91 | 2.51 | 3.00 | 09/09 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-101.30
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.29 | 1.91 | 2.50 | 3.00 | 09/08 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-091.29
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.27 | 1.91 | 2.49 | 3.00 | 09/04 |” — Inflation, quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-081.27
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.27 | 1.91 | 2.49 | 3.00 | 09/04 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-071.27
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.27 | 1.91 | 2.49 | 3.00 | 09/04 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-061.27
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.27 | 1.91 | 2.49 | 3.00 | 09/04 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-051.27
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.26 | 1.91 | 2.49 | 3.00 | 09/03 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-041.26
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.25 | 1.91 | 2.48 | 3.00 | 09/02 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-031.25
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.10 | 1.91 | 2.39 | 3.00 | 09/01 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-021.10
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.05 | 1.91 | 2.36 | 3.00 | 08/31 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-09-011.05
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.07 | 1.91 | 2.37 | 3.00 | 08/28 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-08-311.07
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.07 | 1.91 | 2.37 | 3.00 | 08/28 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-08-301.07
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.07 | 1.91 | 2.37 | 3.00 | 08/28 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-08-291.07
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.01 | 1.91 | 2.34 | 3.00 | 08/27 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-08-281.01
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.03 | 1.91 | 2.35 | 3.00 | 08/26 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-08-271.03
    Cleveland Fed2026 Q3“| 2026:Q3 | 1.03 | 1.91 | 2.35 | 3.00 | 08/26 |” — Quarterly annualized percent change table, 2026:Q3 row, CPI column · source ↗2026-08-261.03
    Cleveland Fed2026 Q3“CPI Inflation · 07/27 · 1.48366639538164” — Historical JSON · 2026:Q3 · CPI Inflation · July 27 · source ↗2026-07-271.48%
    Readout
    Low
    1.44%
    High
    1.44%
    Reporting
    1
    Basis
    Quarterly annualized

    One institution reporting — no consensus is claimed.

    2026 Q3 · Quarterly annualized

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Philadelphia Fed2026 Q3“The forecasters expect current-quarter headline CPI inflation will average 2.3 percent at an annual rate, down from their prediction of 3.0 percent in the previous survey.” — Inflation outlook paragraph · source ↗2026-08-142.3 percent
    Readout
    Low
    2.30%
    High
    2.30%
    Reporting
    1
    Basis
    Quarterly annualized

    One institution reporting — no consensus is claimed.

    2026 Q3 · Quarterly year-over-year

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Fannie Mae2026 Q3“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 3.4 | 3.4 | 2.9 | 1.8 | 1.8 | 1.7 | 2.7 | 3.4 | 1.7 |” — Table, Consumer Price Index row, 2026 Q3 column · source ↗2026-09-113.4
    Readout
    Low
    3.40%
    High
    3.40%
    Reporting
    1
    Basis
    Quarterly year-over-year

    One institution reporting — no consensus is claimed.

    2026 Q4 · Q4/Q4

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Fannie Mae2026 Q4“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 2.9 | 3.1 | 2.7 | 1.7 | 2.3 | 2.0 | 2.7 | 3.1 | 2.0 |” — Forecast table, Consumer Price Index, 2026 annual column · source ↗2026-08-133.1
    Readout
    Low
    3.10%
    High
    3.10%
    Reporting
    1
    Basis
    Q4/Q4

    One institution reporting — no consensus is claimed.

    2026 Q4 · Q4/Q4

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Philadelphia Fed2026 Q4“Measured on a fourth-quarter over fourth-quarter basis, headline CPI and core CPI inflation in 2026 are expected to average 3.6 percent and 2.8 percent, respectively, little changed from the previous estimates.” — Inflation outlook paragraph · source ↗2026-08-143.6 percent
    Readout
    Low
    3.60%
    High
    3.60%
    Reporting
    1
    Basis
    Q4/Q4

    One institution reporting — no consensus is claimed.

    2026 Q4 · Quarterly annualized

    1 institution
    Forecasts by report dateUnited States
    2.50%CONSENSUSMAY 26JUN 26AUG 26Philadelphia Fed · 2.5 · 2026-08-14Philadelphia Fed · 2.5% · 2026-05-15Philadelphia Fed 2.5%

    EmphasisedOther institutionsConsensus

    InstitutionPeriodReportedForecast
    Philadelphia Fed2026 Q4“| 2026:Q4 | 2.5 | 2.5 | 2.7 | 2.8 | 2.4 | 2.6 | 2.6 | 2.6 |” — Inflation table, 2026:Q4 row, Current Headline CPI column · source ↗2026-08-142.5
    Philadelphia Fed2026 Q4“2026:Q4 | Headline CPI | Current 2.5” — Median Short-Run Projections for Inflation · Quarterly · source ↗2026-05-152.5%
    Readout
    Low
    2.50%
    High
    2.50%
    Reporting
    1
    Basis
    Quarterly annualized

    One institution reporting — no consensus is claimed.

    2026 full year · Annual average

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Philadelphia Fed2026 full year“Over the next 10 years, 2026 to 2035, the forecasters predict headline CPI inflation will be at an annual-average rate of 2.30 percent.” — Long-run inflation paragraph · source ↗2026-08-142.30 percent
    Readout
    Low
    2.30%
    High
    2.30%
    Reporting
    1
    Basis
    Annual average

    One institution reporting — no consensus is claimed.

    2026 full year · Annual growth

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Philadelphia Fed2026 full year“Year-over-year CPI inflation is now expected to be 3.6 percent in 2026, up from the previous forecast of 2.8 percent in the December 2025 survey.” — Page 1, CPI paragraph · source ↗2026-06-243.6 percent
    Readout
    Low
    3.60%
    High
    3.60%
    Reporting
    1
    Basis
    Annual growth

    One institution reporting — no consensus is claimed.

    2027 Q1 · Quarterly annualized

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Philadelphia Fed2027 Q1“| 2027:Q1 | 2.5 | 2.5 | 2.7 | 2.8 | 2.5 | 2.5 | 2.6 | 2.6 |” — Inflation table, 2027:Q1 row, Current Headline CPI column · source ↗2026-08-142.5
    Readout
    Low
    2.50%
    High
    2.50%
    Reporting
    1
    Basis
    Quarterly annualized

    One institution reporting — no consensus is claimed.

    2027 Q1 · Quarterly year-over-year

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Fannie Mae2027 Q1“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 3.4 | 3.4 | 2.9 | 1.8 | 1.8 | 1.7 | 2.7 | 3.4 | 1.7 |” — Table, Consumer Price Index row, 2027 Q1 column · source ↗2026-09-112.9
    Readout
    Low
    2.90%
    High
    2.90%
    Reporting
    1
    Basis
    Quarterly year-over-year

    One institution reporting — no consensus is claimed.

    2027 Q2 · Quarterly annualized

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Philadelphia Fed2027 Q2“| 2027:Q2 | 2.4 | 2.3 | 2.5 | 2.5 | 2.3 | 2.3 | 2.4 | 2.4 |” — Inflation table, 2027:Q2 row, Current Headline CPI column · source ↗2026-08-142.3
    Readout
    Low
    2.30%
    High
    2.30%
    Reporting
    1
    Basis
    Quarterly annualized

    One institution reporting — no consensus is claimed.

    2027 Q2 · Quarterly year-over-year

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Fannie Mae2027 Q2“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 3.4 | 3.4 | 2.9 | 1.8 | 1.8 | 1.7 | 2.7 | 3.4 | 1.7 |” — Table, Consumer Price Index row, 2027 Q2 column · source ↗2026-09-111.8
    Readout
    Low
    1.80%
    High
    1.80%
    Reporting
    1
    Basis
    Quarterly year-over-year

    One institution reporting — no consensus is claimed.

    2027 Q3 · Quarterly annualized

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Philadelphia Fed2027 Q3“| 2027:Q3 | N.A. | 2.4 | N.A. | 2.5 | N.A. | 2.3 | N.A. | 2.3 |” — Inflation table, 2027:Q3 row, Current Headline CPI column · source ↗2026-08-142.4
    Readout
    Low
    2.40%
    High
    2.40%
    Reporting
    1
    Basis
    Quarterly annualized

    One institution reporting — no consensus is claimed.

    2027 Q3 · Quarterly year-over-year

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Fannie Mae2027 Q3“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 3.4 | 3.4 | 2.9 | 1.8 | 1.8 | 1.7 | 2.7 | 3.4 | 1.7 |” — Table, Consumer Price Index row, 2027 Q3 column · source ↗2026-09-111.8
    Readout
    Low
    1.80%
    High
    1.80%
    Reporting
    1
    Basis
    Quarterly year-over-year

    One institution reporting — no consensus is claimed.

    2027 Q4 · Q4/Q4

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Fannie Mae2027 Q4“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 2.9 | 3.1 | 2.7 | 1.7 | 2.3 | 2.0 | 2.7 | 3.1 | 2.0 |” — Forecast table, Consumer Price Index, 2027 annual column · source ↗2026-08-132.0
    Readout
    Low
    2.00%
    High
    2.00%
    Reporting
    1
    Basis
    Q4/Q4

    One institution reporting — no consensus is claimed.

    2027 Q4 · Q4/Q4

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Philadelphia Fed2027 Q4“| 2027 | 2.5 | 2.3 | 2.6 | 2.6 | 2.3 | 2.3 | 2.4 | 2.4 |” — Inflation table, 2027 Q4/Q4 row, Current Headline CPI column · source ↗2026-08-142.3
    Readout
    Low
    2.30%
    High
    2.30%
    Reporting
    1
    Basis
    Q4/Q4

    One institution reporting — no consensus is claimed.

    2027 Q4 · Quarterly year-over-year

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Fannie Mae2027 Q4“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 3.4 | 3.4 | 2.9 | 1.8 | 1.8 | 1.7 | 2.7 | 3.4 | 1.7 |” — Table, Consumer Price Index row, 2027 Q4 column · source ↗2026-09-111.7
    Readout
    Low
    1.70%
    High
    1.70%
    Reporting
    1
    Basis
    Quarterly year-over-year

    One institution reporting — no consensus is claimed.

    2027 full year · Annual growth

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Philadelphia Fed2027 full year“The forecasters predict CPI inflation will then fall to 2.5 percent in 2027.” — Page 1, CPI paragraph · source ↗2026-06-242.5 percent
    Readout
    Low
    2.50%
    High
    2.50%
    Reporting
    1
    Basis
    Annual growth

    One institution reporting — no consensus is claimed.

    2028 Q4 · Q4/Q4

    1 institution
    Single reported figureUnited States
    InstitutionPeriodReportedForecast
    Philadelphia Fed2028 Q4“| 2028 | 2.4 | 2.3 | 2.4 | 2.4 | 2.2 | 2.1 | 2.1 | 2.2 |” — Inflation table, 2028 Q4/Q4 row, Current Headline CPI column · source ↗2026-08-142.3
    Readout
    Low
    2.30%
    High
    2.30%
    Reporting
    1
    Basis
    Q4/Q4

    One institution reporting — no consensus is claimed.