Consumer prices settled 0.4% lower in April after declining 0.2% in March. The turnaround has been abrupt given the sharp 0.7% jump in February which went down in the books as the biggest increase since June 2009.

"As was the case in March, a sharp decrease in the gasoline index was the primary cause of the decline," the Bureau of Labor Statistics said its monthly Consumer Price Index (CPI) report.

Prices at the pump tumbled 8.1% in April after falling 4.4% in March. Right before then, gas prices hit American consumers in the stomach when they soared 9.1%. With the reversal, prices have now fallen 8.3% from a year ago.

On the other hand, it is costing more to eat every day. Overall food prices, the government confirmed today, went up 0.2% last month after they had flattened in March. And they are 1.5% higher than last year this time. In breaking down some of the costs, the BLS reports:

"The index for food at home turned up in April, increasing 0.1 percent after declining 0.1 percent the prior month. Four of the six major grocery store food group indexes increased in April. The largest increase was for the cereals and bakery products index, which rose 0.6 percent. The indexes for meats, poultry, fish, and eggs, and for other food at home both increased 0.4 percent, while the nonalcoholic beverages index rose 0.3 percent

In contrast, the index for fruits and vegetables fell 1.4 percent in April as the indexes for fresh fruits and fresh vegetables both declined for the second straight month. The index for dairy and related products was unchanged in April after declining in February and March."

Stripping volatile food and energy prices gives the core US Inflation rate, as described by economists. That gauge climbed 0.1% in April to match the prior month’s level. Rising items tracked by the Bureau of Labor Statistics include:

• Used cars and trucks by 0.6%, a fourth monthly advance
• New vehicles by 0.3% after increasing 0.1% in March
• Medical care commodities by 0.1%, matching the prior month
• Shelter by 0.2% for a fourth straight month
• Tobacco by 0.6%, the first increase in three months

Medical care costs were unchanged in April, the first time they have not climbed since July 2010. A few items that fell in price include:

• Clothing by 0.3% for a third consecutive monthly drop
• Airfares by 0.7%, reversing from their increase of 0.6% in March
• Household furnishing by 0.1%, their fourth decline in the last five months
• Recreation by 0.1%

US inflation on a 12-month basis advanced 1.1%, easing from the prior increase of 1.5% in the 12 months ended March. The latest level marks the lowest inflation rate since November 2010.

Core US inflation gained 1.7% year-over-year through April. The core 12-month inflation rate was reported at 1.9% in April, 2.0% in the February and 1.9% in the three months before then. The core rate of inflation is closely watched by the Federal Reserve as it helps decide where the central bank sets its key interest rate. 1.7% is below the Fed’s 2% inflation target.

"We’ve seen very aggressive declines in gasoline prices, and that has some pass-through into other goods and services," Laura Rosner, a U.S. economist at BNP Paribas in New York, said before the report, according to Bloomberg.

"The Fed is watching the weakness in core inflation. It’s not their baseline assumption that the weakness will continue or worsen, but if it did, that would be a serious concern and would make them think about a response."

With recent decreases in consumer prices, the word "deflation" appeared in several media reports on Thursday. Deflation is a decrease in general prices, which is the exact opposite of inflation. Lower prices may seem like positive news for American consumers, but only to a certain extent. If prices mark sustained deflationary levels that come in below the cost to produce goods and services, turmoil can ensue with production cuts, payroll reductions and deeper unemployment.

The following table offers major US inflation data categories from October through April and over the past 12 months:

October 2012 – April 2013 Consumer Prices – Gains & Losses in Percent

The US Bureau of Labor Statistics (BLS) notes a release date of June 18, 2013 at 8:30 AM ET for the next round of Consumer Price Index data. This batch of inflation information will provide the change in consumer prices through to the month of May 2013. Along with all the published information, the CPI is the data used in this site’s Inflation Calculator.

Cheaper gasoline and clothing brought some relief to American consumers, keeping inflation mostly in check. Prices at the pump dropped 4.4% last month compared to the 9.1% increase in the prior month. Clothing costs declined 1.0%, the biggest decline since April 2001.

Overall, US consumer prices fell 0.2% in March after jumping 0.7% in February for the largest increase since mid-2009.

Then, regular unleaded gasoline peaked to $3.79 a gallon, according to AAA. The association reported prices dropped to an average of $3.64 in March. The declining trend continues with the national average falling for 12 straight days to $3.53 on Monday.

"Anyone who has filled their car with gasoline knows that energy prices have fallen over the last month, which was the single largest factor in keeping price increases contained," CNN Money quoted Steve Cunningham, director of education and research at the American Institute for Economic Research.

Also easing inflation’s bite, food prices flattened after edging 0.1% higher in February.

Excluding volatile food and energy costs, the so-called core US Inflation rate in March was 0.1% as compared to the 0.2% increase in February. Rising items tracked by the Bureau of Labor Statistics in its monthly Consumer Price Index (CPI) report included:

• 1.2% jump in used cars and trucks
• 0.6% rise in airline fares
• 0.3% advance in medical care
• 0.2% pick-up in shelter
• 0.1% increase in new vehicles

In addition to the drop in clothing prices noted earlier, cheaper items last month included furniture by 0.3%, tobacco by 0.2% and recreation by 0.1%.

US inflation rose 1.5% over the past 12 months compared to the 2.0% increase in the 12 months ending January. The increase was the smallest since the 12 months ending July 2012. (See inflation rates since 2003.)

"On balance, this reflects the soft demand environment out there. There is not a lot of price pressure. That’s good for the Fed to maintain its accommodative policy," Reuters quoted Sam Bullard, a senior economist at Wells Fargo in Charlotte, North Carolina.

Core US inflation gained 1.9% year-over-year through March. The core 12-month inflation reading was reported at 2.0% in the February and 1.9% in the previous three months before then. This core US inflation rate is closely watched by the Federal Reserve as it helps decide where the central bank sets its key interest rate. The level is a touch below the Fed’s 2% inflation target.

US inflation data from September through March and over the past 12 months follows.

September 2012 – March 2013 Consumer Prices – Gains in Percent

The US Bureau of Labor Statistics (BLS) has a scheduled release date of May 16, 2013 at 8:30 AM ET for the next round of Consumer Price Index data. This inflation information will offer consumer prices during the month of April 2013. The CPI is the core data used in this site’s Inflation Calculator.

Soaring gasoline prices, as expected, led increases. Consumers paid 9.1% more at the pump last month and that accounted for almost 75% of the gain in the Consumer Price Index (CPI), the government’s key measure of US Inflation.

US consumer prices jumped 0.7% in February for the largest increase since June 2009 and the first monthly advance since October. Consumer prices were flat during each of the two previous months, held down by cheaper energy.

In addition to costlier gasoline, American consumers paid 3.1% more for fuel oil, 1.2% more for natural gas and 0.3% more for electricity. Combined, the energy index went up 5.4% to contrast sharply from the 1.7% decline in the previous month.

On a positive note for Americans, gas prices for March have eased a bit. The average for regular gasoline hit a four-month high of $3.79 a gallon on February 26, reports AAA. The national average is now down almost a dime to $3.695. If the trend continues, next month’s CPI report is likely to show a decline in inflation.

Food prices also climbed last month, up 0.1% overall after being flat in January. The Bureau of Labor Statistics on Friday reported the following on food costs in its monthly Consumer Price Index (CPI) report:

"Among major grocery store food group indexes, the fruits and vegetables index rose 1.4 percent, with both the fresh fruits and fresh vegetables indexes increasing 1.8 percent. The index for meats, poultry, fish, and eggs also rose in February, increasing 0.5 percent. The index for nonalcoholic beverages was unchanged in February, while the remaining major grocery store food group indexes declined. The index for other food at home fell 0.6 percent as the indexes for sugars and sweets and for fats and oils declined. The index for dairy and related products declined 0.4 percent and the cereals and bakery products index fell 0.2 percent; both indexes rose in January."

Stripping out the more volatile food and energy categories, the so-called core US Inflation rate in February was 0.2%. That compares to the 0.3% increase in January which was the biggest advance since May 2011.

Among costlier core items were used cars and trucks (+0.8%), shelter (+0.2%), recreation (+0.3%), medical care (0.2%) and transportation (+0.1%). Falling items included tobacco (-0.2%), clothing (-0.1%), airfares (-0.3%) and new vehicles (-0.3%) — the largest drop since January 2010.

US inflation gained 2.0% over the past 12 months compared to the increase of 1.6% in the 12 months ending January. (See US inflation rates since 2003).

Core US inflation also advanced 2.0% year-over-year through February. The 12-month reading was 1.9% in each of the previous three months. The core US inflation rate is watched closely by the Federal Reserve as it helps decide where the central bank sets its benchmark interest rate. The level is right at the Fed’s 2% inflation target.

"The increase will jangle some nerves at the Fed, but policymakers will remain focused on ensuring the economic upturn looks sustainable and robust before worrying too much about inflation," CNNMoney quoted Chris Williamson, Markit chief economist.

US inflation data from August through February and over the past 12 months follow.

August 2012 – February 2013 Consumer Prices – Gains in Percent

The US Bureau of Labor Statistics (BLS) will release the next round of Consumer Price Index data on April 16, 2013 at 8:30 AM ET. This inflation information will show consumer prices in March 2013. The CPI is the core data used in this site’s US Inflation Calculator.

Costlier housing, vehicles, clothing and airline fares were offset by lower energy prices, a situation likely to reverse itself in February with gasoline surging in recent weeks.

Consumer prices were unchanged in January for the second month in a row, the Bureau of Labor Statistics reported.

Food prices were notably flat after rising 0.2% for three straight months. Overall energy prices fell 1.7%, led by a 3% drop in prices at the pump.

Excluding volatile food and energy, the so-called core US Inflation rate in January climbed 0.3%, the biggest increase since May 2011 and after rising 0.1% in December.

Ticking higher was clothing by 0.8%, new vehicles by 0.1%, used vehicles by 0.2%, transportation by 0.5%, airline fares by 1.1% and shelter by 0.2%.

US inflation advanced 1.6% over the past 12 months, the smallest gain since July. By comparison, US inflation rose 1.7% in 2012. That was down significantly from the 3% level in 2011.

"The 12-month change has been slowing since its recent peak of 2.2 percent in October," the Bureau of Labor Statistics said in its monthly Consumer Price Index (CPI) report which is the government’s key measure of US inflation.

"The index for all items less food and energy rose 1.9 percent over the last 12 months, the same figure as the last two months. The food index has risen 1.6 percent over the last 12 months while the energy index has declined 1.0 percent."

Once again, core US inflation rose 1.9% year-over-year through January. That matches same reading increases in each of the previous two months. This 12-month rate is monitored closely by the Federal Reserve as it helps decide where the central bank sets its benchmark interest rate. The level is a below the Fed’s 2% inflation target.

"This does give them [the Fed] a little bit more leeway," Bloomberg quoted Ira Jersey, an interest-rate strategist at Credit Suisse Group AG in New York, one of 21 primary dealers that trade with the Fed.

"It tells them the policies they have in place seem to be working when you have a modest uptick in inflation, but not a crazy uptick."

US inflation data from July through January and over the past 12 months follow.

July 2012 – January 2013 Consumer Prices – Gains in Percent

The US Labor Department will release February’s round of Consumer Price Index data at 8:30 AM ET on March 15, 2013. The CPI is the core data used in this site’s Inflation Calculator.

US inflation climbed 1.7% in 2012. That is nearly half of the 3.0% level logged in the previous year and the third lowest rate in the last 10 years.

For the year, American consumers paid 1.7% more for gasoline compared to the 9.9% jump in 2011. Food prices went up 1.8%, but again, that was much tamer than the 4.7% increase in 2011.

Stripping out volatile food and energy prices, the so-called core US Inflation rate in 2012 advanced 1.9%. This is the key reading watched closely by the Federal Reserve as it helps decide where the central bank sets its benchmark interest rate. The level is a tad below the Fed’s 2% inflation target.

"All things considered, inflation remains well in check, providing a bit of relief for consumers, while providing ample leeway for the Federal Reserve to keep its foot to the floor on monetary policy," CNNMoney quoted Jim Baird, partner and chief investment strategist for Plante Moran Financial Advisors.

Consumer prices were flat in December after falling 0.3 percent in November. Increases in areas like food, rent and transportation balanced out with prices at the pump down 2.3%. It was the third monthly decline in a row for gasoline after prices soared 9% in August and 7% in September.

"The gasoline index declined again in December, but other indexes, notably food and shelter, increased, resulting in the seasonally adjusted all items index being unchanged," the US Labor Department indicated Thursday, Jan. 16, 2013 in its monthly Consumer Price Index (CPI) report.

"Gasoline was the only major energy index to decline; the indexes for natural gas and electricity both increased. Within the food category, five of the six major grocery store food groups increased as the food at home index rose for the third consecutive month."

Core US inflation picked up 0.1 percent in December, matching increases in five of the last six months.

US Labor Department monthly inflation data from June through December and for 2012 follow.

June – December 2012 Consumer Prices – Gains in Percent

The US Labor Department’s next release of Consumer Price Index data for January 2013 happens on February 21, 2013 at 8:30 AM ET. The CPI is the core data used for this site’s Inflation Calculator.

Consumer prices fell 0.3 percent in November after rising 0.1 percent in the previous month. Economists expected an easing but pegged the likely number at minus 0.2 percent. The first decline since May was mostly attributed to a 7.4 percent drop in prices at the pump, the US Labor Department indicated Friday, December 14, 2012 in its monthly Consumer Price Index (CPI) report.

Cheaper gasoline offset higher prices in other categories such as food, which rose 0.2 percent for a second straight month.

Stripping out volatile food and energy prices, the so-called core US inflation rate rose 0.1 percent in November after advancing 0.2 percent in October.

Other US government-tracked pricing categories to rise last month included:

• 0.2 percent increases for new vehicles, shelter and transportation
• 0.3 percent advance in medical care services
• 1.4 percent rise in airline fares
• 0.3 percent increase for cereals and bakery products
• 0.2 percent advance for fruits and vegetables

Items retreating in price included 0.5 percent for used cars and 0.6 percent for clothing. Additionally, the US Labor Department noted:

"The index for meat, poultry, fish, and eggs was the only major grocery store food group to decline, falling 0.1 percent in November after rising 0.8 percent in October."

Over the past 12 months, US inflation advanced 1.8 percent compared to the increase of 2.2 percent in October.

Core US inflation rose 1.9 percent year-over-year through November versus the prior 2.0 percent. This is the US inflation rate watched closely by the Federal Reserve as it helps decide where the central bank sets its key interest rate.

"The inflationary backdrop remains very benign, providing the Fed with considerable breathing room to keep monetary policy accommodative," Reuters quoted Millan Mulraine, senior economist at TD Securities in New York.

The Federal Reserve’s target inflation rate is 2.0 percent. Sating that, the Fed said Wednesday, December 12, 2012 that it intends to keep its key short-term interest rate near zero until the US unemployment rate is 6.5 percent or lower.

"The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored."

Monthly US Labor Department inflation data from May through November and year-over-year is listed within the following table.

May – November 2012 Consumer Prices – Gains in Percent

The US Labor Department will release Consumer Price Index data for December 2012 on January 16, 2013 at 8:30 AM ET. The CPI is used as the core data for this site’s US Inflation Calculator.

Consumer prices edged up 0.1 percent in October after sharper gains of 0.6 percent during each of the prior two months. The increase was in line with many analysts’ expectations.

Shelter prices shot up 0.3 percent for the largest monthly increase since March 2008, the US Labor Department said Thursday, November 15, 2012, in its monthly published summary about the Consumer Price Index (CPI). They were up 0.2% in previously.

Food prices rose 0.2 percent in October compared to 0.1 percent in September. In specific government-watched categories that advanced, meats, poultry, fish, and eggs climbed 0.8 percent while fruits and vegetable prices added 0.6 percent, and cereals and bakery products increased 0.4 percent. Each of these categories declined in September. Food prices overall have surged 1.7 percent over the past 12 months.

Helping to keep costs lower for Americans was a 0.2 percent decline in energy prices following increases of 4.5 percent in September and 5.6 percent in August. Declines were led by a 0.6 percent reduction in the cost of gasoline. Still, prices at the pump are up 9.1 percent from a year ago with overall energy prices 4.0% higher.

When excluding volatile food and energy prices, the so-called core US inflation rate rose 0.2 percent in October after three straight monthly increases of 0.1 percent.

"The message of the CPI report is that overall inflation remains quite subdued," CNNMoney quoted Sal Guatieri, senior economist at BMO Capital Markets.

"Gasoline prices have eased off and food prices are not rising as quickly as we would have thought in response to the Midwest drought."

US inflation advanced 2.2 percent over the past 12 months compared to increases of 2.0 percent in September and 1.7 percent in August.

Core US inflation rose 2.0 percent year-over-year through October, which was the same as the 12 months through September. This US inflation rate is watched closely by the Federal Reserve as it helps determine where the central bank sets its key interest rate. The level is right at the Fed’s 2.0% target.

Monthly US Labor Department inflation data from April through October and year-over-year are listed within the following table.

April – October 2012 Consumer Prices – Gains in Percent

Consumer Price Index for November 2012 will be available from the US Labor Department on December 14, 2012 at 8:30 AM ET. The CPI information is used as the core data for this site’s Inflation Calculator.

Consumer prices climbed 0.6 percent in September, matching the level in August that had registered as the biggest advance since mid-2009. Gains were led by higher fuel with the month’s sharpest increase of 7% tagged to gasoline prices. They are 6.8% higher than a year ago.

"For the second month in a row, the substantial increase in the all items index was mostly the result of an increase in the gasoline index, which rose 7.0 percent in September after increasing 9.0 percent in August. The other major energy indexes increased in September as well," the US Labor Department reported Tuesday, October 16, in its monthly Consumer Price Index (CPI) report.

Food prices continued higher by 0.1%, but the rate was slower than the previous month’s 0.2% pick-up. While dairy and beverage prices went up in September, meats, poultry, fish, and eggs fell 0.6% compared to the prior month when they went up 0.4%. After surging 1.9% in August, the cost of fresh fruits dropped 0.9%. Still, food prices over the past year have jumped 1.6%.

Higher food and gas prices take money from American consumers that would normally get spent elsewhere. When excluding these volatile categories that can deflate the economy, core US inflation rose 0.1 percent in September for a third month in a row.

"There isn’t any meaningful risk of short-term core inflation," Bloomberg quoted Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia, who correctly forecast the gain in core prices. "When it comes to everyday goods and services, the lack of demand just isn’t going to push prices higher."

In addition to more expensive food and gasoline, US consumers paid 2.0% more for shelter in September, a repeat of the August increase. Other advancing items included medical care (+0.3%), hospital services (+0.6%), airline fares (+1.4%) clothing (+0.3%) and tobacco (+0.2%). Major items to fall were new cars (-0.1%) and used cars (-1.4%) — the latter tumbling the most since February 2009 as dealers discounted to move newer models.

US inflation jumped 2.0 percent over the past 12 months, up from 1.7 percent in August.

Core US inflation also advanced 2.0 percent for the year through September compared with 1.9% for the year through August. The core US inflation rate is closely watched by the Federal Reserve as it helps determine where the central bank sets its key interest rate. The level is right at the Fed’s target of 2.0%.

"Core inflation was low and unthreatening (in September), but in truth neither matters to a Fed monetary policy committed to lowering unemployment," Reuters quoted Joseph Trevisani, a market strategist at Worldwide Markets in Woodcliff Lake, New Jersey.

Within the grid below is monthly US Labor Department inflation data from March through September and the 12-month period.

March – September 2012 Consumer Prices – Gains in Percent

The Consumer Price Index for October 2012 will be available from the US Labor Department on November 15, 2012 at 8:30 AM ET. CPI information is used as the core data for this site’s US Inflation Calculator.

Led by surging prices at the pump, consumer prices jumped 0.6 percent in August after being flat in the previous two months. The increase was the sharpest since mid-2009.

"The seasonally adjusted increase in the all items index was the largest since June 2009. About 80 percent of the increase was accounted for by the gasoline index, which rose 9.0 percent and was the major factor in the energy index rising sharply in August after declining in each of the four previous months," the US Labor Department said in its monthly Consumer Price Index (CPI) report.

Energy prices overall were up 5.6 percent. Overall food costs were 0.2 percent higher. Fresh fruit prices, in particular, jumped 1.9 percent. Meats, poultry, fish, and eggs rose 0.4 percent. Restaurant and fast food prices climbed 0.3 percent.

Stripping out the more volatile food and energy categories, core US inflation rose 0.1 percent in August — the same increase as in July. If Americans actually lived without such costs, inflation could be considered tame.

"I think inflation will remain benign for some time," Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, said before the report, according to Bloomberg. "The consumer’s still very, very price-sensitive, and rightfully so because the unemployment rate’s high, wage growth is barely keeping up with inflation."

In addition to higher energy and food bills, US consumers paid 0.2 percent more for shelter, electricity, new vehicles and medical care service. Government watched items that fell included clothing by 0.5 percent, used car prices by 0.9 percent and airline fares by 1.3 percent.

US inflation advanced 1.7 percent over the past year compared to 1.4 percent in July.

Core US inflation advanced 1.9 percent over the past 12 months, which was down from the 2.1 percent increase in July. The core US inflation rate is watched closely by the Federal Reserve as it helps determine where the central bank sets its key interest rate. The level is near the Fed’s 2.0 percent target area.

"Inflation has been subdued, although the prices of some key commodities have increased recently. Longer-term inflation expectations have remained stable," the Fed’s FOMC said in its monetary policy statement on Thursday.

"The Committee also anticipates that inflation over the medium term likely would run at or below its 2 percent objective."

The following grid offers US Labor Department inflation data ranging from February to August and over the past 12 months.

February – August 2012 Consumer Prices – Gains (percent)

Consumer Price Index figures for September 2012 get released by the US Labor Department on October 16, 2012 at 8:30 AM ET. CPI information is used as the core data for this site’s Inflation Calculator.

Consumer prices were flat in July for a second straight month and the third time in four months, the US Labor Department reported Wednesday in Washington. Most economists were expecting at least a slight pick-up due to rising food prices.

"Lower prices are good because they leave more money in consumers’ pockets," CNNMoney quoted James Marple, senior economist with TD Economics. "On the other hand, it does represent a relatively weak economy."

Food costs were up 0.1 percent last month, down from the 0.2% increase in June, and energy prices were 0.3 percent lower in July versus the prior 1.4 percent decrease.

"Inflation is on a clear downward trajectory. With an unemployment rate at 8.3 percent, weak economic growth, both domestically and globally, and a rising U.S. dollar, inflation is likely to drift lower over the coming months," the Washington Post further quoted Marple.

Over the past year, food prices gained 2.3 percent while energy prices fell 5.0 percent. That could change in next month’s inflation report with gasoline prices up sharply in August.

Stripping out the more volatile food and energy categories, core US inflation rose 0.1 percent in July after four straight monthly increases of 0.2 percent. The US Labor Department in its monthly Consumer Price Index (CPI) report noted the following about core prices it tracks:

"The index for shelter rose 0.1 percent, the same increase as in June. The rent index increased 0.3 percent and the index for owners’ equivalent rent rose 0.2 percent, but the index for lodging away from home fell 2.3 percent. The medical care index, which rose 0.6 percent in June, increased 0.4 percent in July, with the indexes for physicians’ services and hospital services also rising 0.4 percent. The tobacco index rose sharply in July, increasing 1.1 percent, and the index for household furnishings and operations repeated its June increase of 0.2 percent. The apparel index rose 0.2 percent, its fifth consecutive increase, and the personal care index also increased 0.2 percent. In contrast, the index for airline fares declined sharply for the second consecutive month, falling 2.7 percent. The index for used cars and trucks fell 0.5 percent and the indexes for new vehicles and for recreation both fell 0.1 percent."

US inflation climbed 1.4 percent over the past 12 months compared to matching 1.7% advances in each of the two previous months. It was the smallest 12-month change since November 2010.

Core US inflation advanced 2.1 percent over the past year, down from the 2.2 percent increase in June. It was the smallest gain since October 2011.

The core US inflation rate is closely watched by the Federal Reserve as it helps determine where the central bank sets its key interest rate. The level remains above the Fed’s 2.0 percent target area, but it is not a major concern given the current US unemployment rate of 8.3 percent.

"Inflation has declined since earlier this year, mainly reflecting lower prices of crude oil and gasoline, and longer-term inflation expectations have remained stable," state FOMC meeting notes released August 1, 2012.

"The Committee anticipates that inflation over the medium term will run at or below the rate that it judges most consistent with its dual mandate."

The following table offers US Labor Department inflation data ranging from January to July and over the past 12 months.

January – July 2012 Consumer Prices – Gains (percent)

Consumer Price Index figures for August get released by the US Labor Department on September 14, 2012 at 8:30 AM ET. CPI information is used as the core data for this site’s US Inflation Calculator.