Risk and sentiment
US CPI
US consumer price index for all urban consumers.
At a glance
US CPI: latest value and prior change
As of 2026-06-01, US CPI is 332.6 idx. It is 1.41 idx lower than 334.0 idx on 2026-05-01.
Across 120 available observations from 2016-06-01 to 2026-06-01, the latest value is at the tie-adjusted 99th percentile.
- Observed on
- Default comparison window
- 2016-06-01–2026-06-01
- Observations · observed cadence
- 120 · Monthly
- Data source
- FRED
A high or low percentile does not by itself make the indicator positive, negative, or a buy or sell signal.
Time-series chart
US CPI
2016-06-01–2026-06-01
Long-history series are stored as real provider observations. Index, FX, VIX, and ratio charts use historical backfill where providers expose it; Korean investor flow and margin-credit feeds expand as stable historical endpoints become available.
Interpretation guide
Reading the US CPI level as a cumulative price gauge
The US Consumer Price Index is published monthly by the Bureau of Labor Statistics and tracks the price level facing urban consumers. Because this series is the index level rather than a growth rate, it shows how much inflation has accumulated, not how fast prices are currently rising. Even when headlines celebrate cooling inflation, this level keeps climbing.
What a level series actually tells you
The index sets the 1982-84 average at 100 and compounds the cost of an urban consumer basket from there. A rising level means each dollar buys less over time — a direct read on eroding real purchasing power. Most ‘inflation is falling’ stories describe a slower rate of increase, not a falling level.
- Outright declines in the level (deflation) are rare in US history and are a major event on their own when they occur.
- A flattening slope signals disinflation; a steepening slope signals re-accelerating price pressure.
- Dividing today’s index by the level a decade ago gives a rough measure of the dollar’s cumulative loss of purchasing power.
Slope and momentum over single prints
With a level series, the trajectory matters more than any single month. Annualizing the pace of increase over the last three or six months often reveals turning points earlier than the year-over-year figure does.
- When recent annualized momentum runs below the year-over-year rate, the YoY number is likely to drift lower ahead.
- Several months of a nearly flat level marks strong disinflation and typically feeds debate about a Fed policy pivot.
- Comparing the level’s slope with wage growth shows whether real household income is actually improving.
Use for Korean investors and common mistakes
For long-horizon dollar-asset investors, real returns require subtracting this level’s climb from nominal gains. Markets trade the rate of change rather than the level, so release-day tactics belong with the US CPI YoY guide.
- The absolute index value (say 310) is an artifact of the base year, so never compare it directly with other countries’ index values.
- Pair it with US CPI YoY and US Core PCE YoY to separate the accumulated price burden from the current pace.
- Treat ‘prices fell’ headlines with care — they usually mean slower increases, so check the level itself for the true cost burden.