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C2 · PRICES

CPI inflation, year over year

3.95
CALM ROBUST z 0.34 DRS 87 monthly as of 2026-04-01

Where it sits: higher than ~77% of its last decade.

The full history

1948 high 14.59 · low -2.87 · now 3.95 · 12 recessions shaded 2026

How it is read

What it measures
prices
Where it sits
higher than ~77% of its last decade — at the 77th percentile of its last decade.
z vs. its window
0.34 (strain side: both). 117 observations in the window.
State rule
z < 1 CALM · 1 ≤ z < 2 WATCH · z ≥ 2 EXTREME, measured only toward the declared strain side.
Confidence
ROBUST — a primary official series, mechanically reported.
Reliability (DRS)
DRS 87 — Reliability adjusted (small reduction). The producing agency (BLS) has operated without a Senate-confirmed commissioner since August 2025, when the prior commissioner was removed following routine data revisions, and has curtailed CPI and PPI collection in some areas, citing resources. An independent Department of Labor Inspector General review is underway. No data manipulation has been demonstrated, and the agency continues to publish unfavorable readings. This adjustment reflects elevated uncertainty and reduced sampling precision, not evidence of false data, and it lifts when leadership is confirmed and collection is restored. Sources: DOL OIG audit announcement (Sept 2025); BLS CPI collection-reduction notices (2025). Computed: 100 × (CPIAUCSL(t) / CPIAUCSL(t−12m) − 1). BLS-produced input.

Where it comes from

DERIVED ↗ Every number on this site is reproducible from this primary source.

What it read at past stress points

Lehman, Sep 2008 4.95 ▲ EXTREME
Q4-2018 selloff 2.00 · CALM
Curve inversion, Aug 2019 1.74 · CALM
COVID crash, Mar 2020 1.49 · CALM

Questions it helps answer

  • Prices — Are prices behaving — and believed?