Rate Of Inflation 2024 Usa Today. Inflation rate for 2020 was 1.23% , a 0.58% decline from 2019. Private sector experts expect inflation to drop below 2.5% in 2024, according to the federal reserve bank of st louis.
Inflation is down from the june 2022 peak of 9.06%, but even moderate inflation can rapidly erode purchasing power and creates uncertainty as businesses have more difficulty estimating future costs. The us inflation rate is the percentage in which a chosen basket of goods and services purchased in the us increases in price over a year.