Inflation 2024. On a monthly basis, cpih rose by 0.6% in october 2024, up from. The annual inflation rate in the us likely accelerated to 2.6% in october 2024, up from 2.4% in september which was the lowest rate since february 2021, marking the first increase in inflation in seven months.

Overall pce inflation was 2.3% year over year as of august 2024, with core pce inflation at 2.7%. Inflation is projected to increase in the fourth quarter of this year before returning to target by the end of 2025 as cost pressures ease and the impact of past monetary policy decisions gradually feeds through to consumer prices.