The Inflation rate is calculated from the Consumer Price Index (CPI-U) which is compiled by the U.S. Bureau of Labor Statistics and is based upon a 1982-84 Base of 100. The original inflation numbers were as follows: May 2016: 1.022%, June 2016: 1.006%, July 2016: 0.835%, August 2016: 1.065%.
Correspondingly, what is the inflation rate for 2020?
According to different agencies, US CPI inflation will be within the range from 2.1 to 2.3 percent in 2020 and average at around 2.2 percent in 2021. All agencies are consistent that CPI inflation will increase in 2020 from an average of 1.8 in 2019.
Furthermore, what is inflation rate for last 10 years?
Current Inflation Rate
|Inflation rate in December 2019: (month over month, MOM)||-0.09%|
|Inflation rate in 2018:||1.91%|
|Last 12 months inflation rate: (year over year, YOY)||2.28%|
|Last 60 months inflation rate (5 years):||9.44%|
|Last 120 months inflation rate (10 years):||19.00%|
What are 3 types of inflation?
There are three main types of inflation: demand-pull, cost-push, and built-in inflation. Demand-pull inflation occurs when the overall demand for goods or services increases faster than the production capacity of the economy. Cost-push inflation happens as a result of an increase in the cost of production.
Is inflation good or bad?
When inflation is too high of course, it is not good for the economy or individuals. Inflation will always reduce the value of money, unless interest rates are higher than inflation. And the higher inflation gets, the less chance there is that savers will see any real return on their money.