Inflation United States 2023
Average inflation: 4.1%
Current Inflation
Inflation is high at 4.1%, well above the ECB target.
Peak and Trough
The highest inflation was in January at 6.4%. The lowest inflation was in June at 3.0%.
- Highest month
- January: 6.4%
- Lowest month
- June: 3.0%
- Difference
- 3.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Housing, water, electricity, gas and other fuels with an average of 7.0%. The lowest price increase was in Transport with an average of -2.3%.
- Highest increase
- Housing, water, electricity, gas and other fuels: 7.0%
- Lowest increase
- Transport: -2.3%
Historical Context
Current inflation is around the 5-year average of 4.0%.
- 5-year average
- 4%
- 10-year average
- 2.7%
- All-time high (2022)
- 8%
- All-time low (2009)
- -0.3%
Trend
Inflation has remained relatively stable. Compared to 2022, the difference is minimal (-3.9 percentage point).
- Change vs. previous year
- -3.9 percentage points
- Largest monthly swing
- June: -6.1 percentage points
ECB Target
Inflation is 2.1% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €104.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 6.4% | -1.1 |
| February | 6.0% | -1.9 |
| March | 5.0% | -3.5 |
| April | 4.9% | -3.4 |
| May | 4.0% | -4.6 |
| June | 3.0% | -6.1 |
| July | 3.2% | -5.3 |
| August | 3.7% | -4.6 |
| September | 3.7% | -4.5 |
| October | 3.2% | -4.5 |
| November | 3.1% | -4.0 |
| December | 3.4% | -3.1 |
| Average | 4.1% |
Data source
Data from OECD. Last updated: 11/01/2026.