Inflation, consumer prices in North America
North America: Inflation, consumer prices was 2.7% in 2024. ◆ Volatile
Inflation, consumer prices in North America, 1960–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in annual %.
Analysis
In 2024, inflation, consumer prices in North America stood at 2.7%.
Compared with earlier readings it is down 33.3% on the previous year and up 51.1% over ten years.
Over the whole period, inflation, consumer prices in North America peaked at 11.8% in 1980 and was at its lowest, -0.0%, in 2009.
North America ranks 30th of 45 groups on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Inflation, consumer prices in North America, year by year
| Year | annual % | Change |
|---|---|---|
| 1960 | 1.4% | — |
| 1961 | 1.0% | -25.8% |
| 1962 | 1.1% | +8.2% |
| 1963 | 1.4% | +26.9% |
| 1964 | 1.6% | +11.3% |
| 1965 | 2.0% | +22.8% |
| 1966 | 3.4% | +74.4% |
| 1967 | 3.2% | -7.0% |
| 1968 | 4.2% | +31.1% |
| 1969 | 5.0% | +20.4% |
| 1970 | 4.6% | -8.4% |
| 1971 | 3.5% | -23.8% |
| 1972 | 4.1% | +18.0% |
| 1973 | 6.8% | +65.4% |
| 1974 | 11.0% | +61.4% |
| 1975 | 9.9% | -10.1% |
| 1976 | 6.6% | -32.9% |
| 1977 | 7.2% | +9.0% |
| 1978 | 8.3% | +14.7% |
| 1979 | 10.2% | +22.9% |
| 1980 | 11.8% | +16.1% |
| 1981 | 11.4% | -3.7% |
| 1982 | 8.5% | -25.9% |
| 1983 | 4.5% | -46.3% |
| 1984 | 4.3% | -5.2% |
| 1985 | 3.8% | -12.8% |
| 1986 | 3.0% | -18.8% |
| 1987 | 4.0% | +31.6% |
| 1988 | 4.1% | +1.1% |
| 1989 | 4.9% | +21.0% |
| 1990 | 5.1% | +3.7% |
| 1991 | 4.9% | -3.1% |
| 1992 | 2.3% | -54.2% |
| 1993 | 2.4% | +6.6% |
| 1994 | 1.4% | -42.4% |
| 1995 | 2.5% | +78.7% |
| 1996 | 2.3% | -9.1% |
| 1997 | 2.0% | -12.1% |
| 1998 | 1.3% | -35.6% |
| 1999 | 2.0% | +53.9% |
| 2000 | 3.0% | +55.4% |
| 2001 | 2.7% | -12.2% |
| 2002 | 1.9% | -28.2% |
| 2003 | 2.5% | +30.8% |
| 2004 | 2.3% | -9.8% |
| 2005 | 2.8% | +23.6% |
| 2006 | 2.6% | -6.7% |
| 2007 | 2.5% | -4.5% |
| 2008 | 3.1% | +24.4% |
| 2009 | -0.0% | -100.9% |
| 2010 | 1.7% | -6193.0% |
| 2011 | 3.0% | +77.6% |
| 2012 | 1.8% | -40.9% |
| 2013 | 1.2% | -33.0% |
| 2014 | 1.8% | +46.8% |
| 2015 | 0.6% | -64.8% |
| 2016 | 1.3% | +116.3% |
| 2017 | 1.9% | +38.5% |
| 2018 | 2.4% | +26.4% |
| 2019 | 1.9% | -20.2% |
| 2020 | 1.0% | -48.1% |
| 2021 | 4.0% | +314.9% |
| 2022 | 7.4% | +82.9% |
| 2023 | 4.0% | -46.0% |
| 2024 | 2.7% | -33.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 2.4% | 1.0% | 5.0% | 10 |
| 1970s | 7.2% | 3.5% | 11.0% | 10 |
| 1980s | 6.0% | 3.0% | 11.8% | 10 |
| 1990s | 2.6% | 1.3% | 5.1% | 10 |
| 2000s | 2.3% | -0.0% | 3.1% | 10 |
| 2010s | 1.8% | 0.6% | 3.0% | 10 |
| 2020s | 3.8% | 1.0% | 7.4% | 5 |
Countries ranked near North America
- 27 Uzbekistan 8.8% compare
- 28 Bangladesh 8.8% compare
- 29 Russian Federation 8.7% compare
- 30 Mongolia 8.6% compare
- 31 Liberia 8.3% compare
- 32 Kyrgyzstan 8.2% compare
- 33 Yemen 8.1% compare
More economy & growth data for North America
- Industry (including construction), value added 4.69 trillion current US$ (2021)
- Imports of goods and services 5.0% (2024)
- Imports of goods and services 15.4% (2024)
- External balance on goods and services -2.8% (2024)
- Trade 28.5% (2024)
- Manufacturing, value added 2.69 trillion current US$ (2021)
- Trade in services 7.5% (2025)
- Gross value added at basic prices (GVA) 24.38 trillion current US$ (2021)
- Inflation, GDP deflator 2.7% (2025)
- Services, value added 75.5% (2021)
Frequently asked questions
- What is inflation, consumer prices in North America?
- Inflation, consumer prices in North America was 2.7% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest inflation, consumer prices recorded in North America?
- The highest recorded value was 11.8% in 1980.
- What is the lowest inflation, consumer prices recorded in North America?
- The lowest recorded value was -0.0% in 2009.
- How does North America rank for inflation, consumer prices?
- North America ranks 30th out of 45 groups with data for 2024.
- Is inflation, consumer prices rising or falling in North America?
- Over the last ten years it is up 51.1%. The long-run trend across the full record is volatile.
- Where does this North America data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Inflation, consumer prices (annual %). Statizoid updates them automatically from the source API.
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About this data
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly.