Accessible Version
Is the Inflation Process in Advanced Economies Different After the Pandemic? Accessible Data
Figure 1: 12-month Inflation in Selected Advanced Economies
Left
Headline Inflation
12-month percent change
| Period | U.K. | U.S. | Euro area | Canada |
|---|---|---|---|---|
| 1/15/2014 | 1.956745623 | 1.578947368 | 0.761354686 | 1.483924155 |
| 2/15/2014 | 1.738241309 | 1.12634925 | 0.706251635 | 1.140994295 |
| 3/15/2014 | 1.630988787 | 1.512202876 | 0.465356774 | 1.545972335 |
| 4/15/2014 | 1.831129196 | 1.952857899 | 0.711605641 | 2.037489813 |
| 5/15/2014 | 1.52284264 | 2.12711155 | 0.504071345 | 2.276422764 |
| 6/15/2014 | 1.932858596 | 2.072341373 | 0.490575781 | 2.357723577 |
| 7/15/2014 | 1.627670397 | 1.992328636 | 0.37642783 | 2.112103981 |
| 8/15/2014 | 1.519756839 | 1.699611334 | 0.362976407 | 2.112103981 |
| 9/15/2014 | 1.210898083 | 1.657918676 | 0.322539027 | 2.02757502 |
| 10/15/2014 | 1.311806256 | 1.664340216 | 0.387496771 | 2.357723577 |
| 11/15/2014 | 0.907258065 | 1.322355182 | 0.284384695 | 1.951219512 |
| 12/15/2014 | 0.502008032 | 0.75649327 | -0.167461033 | 1.466992665 |
| 1/15/2015 | 0.303030303 | -0.089348313 | -0.599270453 | 0.974817222 |
| 2/15/2015 | 0 | -0.025129802 | -0.285714286 | 1.047542305 |
| 3/15/2015 | 0 | -0.073637391 | -0.064333505 | 1.201923077 |
| 4/15/2015 | -0.1998002 | -0.199517446 | 0.205549846 | 0.798722045 |
| 5/15/2015 | 0.1 | -0.039932745 | 0.591563786 | 0.874403816 |
| 6/15/2015 | 0 | 0.123771204 | 0.501027749 | 1.032565528 |
| 7/15/2015 | 0.1001001 | 0.16956978 | 0.556058451 | 1.272871917 |
| 8/15/2015 | 0.099800399 | 0.195079293 | 0.439163007 | 1.272871917 |
| 9/15/2015 | -0.099700897 | -0.036129748 | 0.205761317 | 1.033386328 |
| 10/15/2015 | -0.099601594 | 0.170574436 | 0.386001029 | 1.032565528 |
| 11/15/2015 | 0.1998002 | 0.501797579 | 0.128899201 | 1.355661882 |
| 12/15/2015 | 0.1998002 | 0.729519786 | 0.24516129 | 1.606425703 |
| 1/15/2016 | 0.201409869 | 1.373086814 | 0.327653997 | 2.011263073 |
| 2/15/2016 | 0.301507538 | 1.01779978 | -0.130242251 | 1.355661882 |
| 3/15/2016 | 0.501504514 | 0.852536221 | -0.038624952 | 1.26682502 |
| 4/15/2016 | 0.3003003 | 1.125110419 | -0.256410256 | 1.664025357 |
| 5/15/2016 | 0.2997003 | 1.019322554 | -0.115060087 | 1.497241923 |
| 6/15/2016 | 0.399201597 | 0.997326495 | 0.05113128 | 1.493710692 |
| 7/15/2016 | 0.6 | 0.82713887 | 0.16718107 | 1.256873527 |
| 8/15/2016 | 0.598205384 | 1.062874503 | 0.218621399 | 1.099764336 |
| 9/15/2016 | 0.898203593 | 1.463783647 | 0.397843943 | 1.337529504 |
| 10/15/2016 | 0.897308076 | 1.635987521 | 0.499871828 | 1.493710692 |
| 11/15/2016 | 1.09670987 | 1.692537163 | 0.579299691 | 1.180173092 |
| 12/15/2016 | 1.595214357 | 2.074622133 | 1.106963573 | 1.501976285 |
| 1/15/2017 | 1.909547739 | 2.500042209 | 1.724363161 | 2.129337539 |
| 2/15/2017 | 2.304609218 | 2.737958171 | 1.956181534 | 2.04563336 |
| 3/15/2017 | 2.295409182 | 2.380612433 | 1.532715095 | 1.563721658 |
| 4/15/2017 | 2.694610778 | 2.199689878 | 1.902313625 | 1.636788776 |
| 5/15/2017 | 2.888446215 | 1.874877721 | 1.382311532 | 1.319875776 |
| 6/15/2017 | 2.68389662 | 1.633487955 | 1.290405008 | 1.00697134 |
| 7/15/2017 | 2.584493042 | 1.727978456 | 1.335216331 | 1.163692785 |
| 8/15/2017 | 2.874132805 | 1.938974212 | 1.539843449 | 1.398601399 |
| 9/15/2017 | 2.96735905 | 2.232963865 | 1.559504027 | 1.552795031 |
| 10/15/2017 | 2.964426877 | 2.041128702 | 1.377375335 | 1.394268009 |
| 11/15/2017 | 3.15581854 | 2.202582939 | 1.535901702 | 2.099533437 |
| 12/15/2017 | 2.944062807 | 2.109082475 | 1.336728199 | 1.869158879 |
| 1/15/2018 | 2.958579882 | 2.07050762 | 1.297033517 | 1.698841699 |
| 2/15/2018 | 2.742409403 | 2.211795421 | 1.112816577 | 2.158828065 |
| 3/15/2018 | 2.43902439 | 2.359711404 | 1.39540784 | 2.309468822 |
| 4/15/2018 | 2.429543246 | 2.462743943 | 1.223511604 | 2.22392638 |
| 5/15/2018 | 2.420135528 | 2.801011715 | 1.956823633 | 2.222222222 |
| 6/15/2018 | 2.420135528 | 2.871547835 | 1.980322906 | 2.45398773 |
| 7/15/2018 | 2.519379845 | 2.949515087 | 2.191815533 | 2.990797546 |
| 8/15/2018 | 2.601156069 | 2.699180104 | 2.085176292 | 2.835249042 |
| 9/15/2018 | 2.401536984 | 2.276972194 | 2.076777848 | 2.217125382 |
| 10/15/2018 | 2.399232246 | 2.522469929 | 2.277015977 | 2.444614209 |
| 11/15/2018 | 2.294455067 | 2.176601032 | 1.916046893 | 1.675552171 |
| 12/15/2018 | 2.097235462 | 1.910158849 | 1.532663317 | 1.987767584 |
| 1/15/2019 | 1.819923372 | 1.551235138 | 1.394523327 | 1.442672741 |
| 2/15/2019 | 1.811248808 | 1.520135266 | 1.492726123 | 1.509433962 |
| 3/15/2019 | 1.904761905 | 1.862522741 | 1.401226073 | 1.881113619 |
| 4/15/2019 | 2.087286528 | 1.996439776 | 1.719626168 | 2.025506377 |
| 5/15/2019 | 1.984877127 | 1.790228469 | 1.213472016 | 2.3988006 |
| 6/15/2019 | 1.984877127 | 1.648484656 | 1.261595547 | 2.020958084 |
| 7/15/2019 | 1.984877127 | 1.811464806 | 1.029010662 | 2.010424423 |
| 8/15/2019 | 1.784037559 | 1.749779889 | 1.015102748 | 1.937406855 |
| 9/15/2019 | 1.782363977 | 1.711304513 | 0.838471023 | 1.869857891 |
| 10/15/2019 | 1.499531396 | 1.764042944 | 0.725707257 | 1.864280388 |
| 11/15/2019 | 1.401869159 | 2.051277982 | 0.964749536 | 2.172284644 |
| 12/15/2019 | 1.307189542 | 2.28512974 | 1.32392972 | 2.248875562 |
| 1/15/2020 | 1.787394167 | 2.486571955 | 1.36284071 | 2.395209581 |
| 2/15/2020 | 1.685393258 | 2.334873564 | 1.221488221 | 2.156133829 |
| 3/15/2020 | 1.495327103 | 1.539326992 | 0.740283775 | 0.886262925 |
| 4/15/2020 | 0.836431227 | 0.329096686 | 0.318510352 | -0.220588235 |
| 5/15/2020 | 0.556070436 | 0.11792637 | 0.085637387 | -0.366032211 |
| 6/15/2020 | 0.648748842 | 0.645733048 | 0.2687187 | 0.660308144 |
| 7/15/2020 | 1.112140871 | 0.986081825 | 0.380414775 | 0.145985401 |
| 8/15/2020 | 0.184501845 | 1.309645382 | -0.171568627 | 0.14619883 |
| 9/15/2020 | 0.552995392 | 1.371324861 | -0.317926143 | 0.513950073 |
| 10/15/2020 | 0.738688827 | 1.182066168 | -0.268653071 | 0.65885798 |
| 11/15/2020 | 0.368663594 | 1.174535784 | -0.281759157 | 0.953079179 |
| 12/15/2020 | 0.64516129 | 1.362005495 | -0.268653071 | 0.73313783 |
| 1/15/2021 | 0.739371534 | 1.399769742 | 0.900456396 | 1.023391813 |
| 2/15/2021 | 0.460405157 | 1.676215217 | 0.935845339 | 1.091703057 |
| 3/15/2021 | 0.73664825 | 2.619762509 | 1.33496632 | 2.196193265 |
| 4/15/2021 | 1.474654378 | 4.159694839 | 1.611918427 | 3.389830508 |
| 5/15/2021 | 2.119815668 | 4.992706538 | 1.98019802 | 3.600293902 |
| 6/15/2021 | 2.486187845 | 5.391451413 | 1.900353271 | 3.06122449 |
| 7/15/2021 | 2.016498625 | 5.365475239 | 2.17603912 | 3.717201166 |
| 8/15/2021 | 3.222836096 | 5.251271555 | 2.958507243 | 4.087591241 |
| 9/15/2021 | 3.024747938 | 5.390348855 | 3.361138371 | 4.38276114 |
| 10/15/2021 | 4.124656279 | 6.221868903 | 4.0528958 | 4.654545455 |
| 11/15/2021 | 5.142332415 | 6.80900284 | 4.864864865 | 4.720406681 |
| 12/15/2021 | 5.402930403 | 7.036402866 | 4.958981266 | 4.80349345 |
| 1/15/2022 | 5.412844037 | 7.479872468 | 5.11002445 | 5.13748191 |
| 2/15/2022 | 6.141154904 | 7.871063898 | 5.880200073 | 5.687544996 |
| 3/15/2022 | 7.038391225 | 8.542455555 | 7.44500846 | 6.661891117 |
| 4/15/2022 | 8.991825613 | 8.258629341 | 7.451027521 | 6.771204562 |
| 5/15/2022 | 9.025270758 | 8.581511544 | 8.054656598 | 7.730496454 |
| 6/15/2022 | 9.433962264 | 9.059757965 | 8.643156007 | 8.132956153 |
| 7/15/2022 | 10.06289308 | 8.524814746 | 8.853792773 | 7.589599438 |
| 8/15/2022 | 9.812667261 | 8.262692503 | 9.133182306 | 7.012622721 |
| 9/15/2022 | 10.14234875 | 8.201669644 | 9.933539046 | 6.857942617 |
| 10/15/2022 | 11.0915493 | 7.745427331 | 10.61426218 | 6.879777623 |
| 11/15/2022 | 10.65502183 | 7.110322794 | 10.05154639 | 6.796116505 |
| 12/15/2022 | 10.51259774 | 6.454401331 | 9.204386374 | 6.319444444 |
| 1/15/2023 | 10.00870322 | 6.410146969 | 8.641544545 | 5.918788713 |
| 2/15/2023 | 10.44905009 | 6.035613078 | 8.503283788 | 5.245231608 |
| 3/15/2023 | 10.07685739 | 4.984974122 | 6.884139483 | 4.298186702 |
| 4/15/2023 | 8.666666667 | 4.930320398 | 6.94553182 | 4.405874499 |
| 5/15/2023 | 8.69205298 | 4.047609273 | 6.100942873 | 3.357472021 |
| 6/15/2023 | 7.963875205 | 2.969177655 | 5.523767606 | 2.812295618 |
| 7/15/2023 | 6.857142857 | 3.177780178 | 5.30885909 | 3.265839321 |
| 8/15/2023 | 6.661251015 | 3.665112384 | 5.244182235 | 3.997378768 |
| 9/15/2023 | 6.62358643 | 3.699698121 | 4.329051063 | 3.798297315 |
| 10/15/2023 | 4.595879556 | 3.241144652 | 2.904255319 | 3.120936281 |
| 11/15/2023 | 3.946329913 | 3.137270709 | 2.395145838 | 3.116883117 |
| 12/15/2023 | 3.93081761 | 3.352122831 | 2.92703771 | 3.396472894 |
| 1/15/2024 | 4.034810127 | 3.090884781 | 2.772722407 | 2.85899935 |
| 2/15/2024 | 3.440187647 | 3.153171121 | 2.58043963 | 2.783171521 |
| 3/15/2024 | 3.180760279 | 3.47738507 | 2.431067144 | 2.897617514 |
| 4/15/2024 | 2.377300613 | 3.35736395 | 2.373980339 | 2.685421995 |
| 5/15/2024 | 1.98019802 | 3.269029057 | 2.56142185 | 2.866242038 |
| 6/15/2024 | 1.977186312 | 2.971397107 | 2.513034411 | 2.671755725 |
| 7/15/2024 | 2.215431627 | 2.894753198 | 2.58845632 | 2.530044276 |
| 8/15/2024 | 2.284843869 | 2.530730296 | 2.169625247 | 1.953371141 |
| 9/15/2024 | 1.666666667 | 2.440633031 | 1.748758278 | 1.640378549 |
| 10/15/2024 | 2.272727273 | 2.597904905 | 2.005582549 | 2.017654477 |
| 11/15/2024 | 2.581624905 | 2.749380396 | 2.245555671 | 1.889168766 |
| 12/15/2024 | 2.571860817 | 2.88805722 | 2.428645563 | 1.831964624 |
| 1/15/2025 | 2.965779468 | 3.000483112 | 2.520833333 | 1.895135818 |
| 2/15/2025 | 2.796674225 | 2.821548952 | 2.31884058 | 2.644836272 |
| 3/15/2025 | 2.631578947 | 2.390725254 | 2.178156786 | 2.315394243 |
| 4/15/2025 | 3.520599251 | 2.311288862 | 2.16569619 | 1.743462017 |
| 5/15/2025 | 3.360716953 | 2.354896535 | 1.896024465 | 1.73374613 |
| 6/15/2025 | 3.579418345 | 2.669213018 | 1.983521514 | 1.858736059 |
| 7/15/2025 | 3.886397608 | 2.704902397 | 2.034794994 | 1.727328809 |
| 8/15/2025 | 3.723008191 | 2.916174284 | 2.042267832 | 1.854140915 |
| 9/15/2025 | 3.800298063 | 3.012676776 | 2.227194142 | 2.358783364 |
| 10/15/2025 | 3.555555556 | 2.785063429 | 2.097902098 | 2.1631644 |
| 11/15/2025 | 3.25684678 | 2.735084455 | 2.135231317 | 2.224969098 |
| 12/15/2025 | 3.318584071 | 2.677080528 | 1.965751343 | 2.357320099 |
| 1/15/2026 | 3.028064993 | 2.386431245 | 1.656167446 | 2.293862368 |
Right
Core Inflation
12-month percent change
| Period | U.K. | U.S. | Euro area | Canada |
|---|---|---|---|---|
| 1/15/2014 | 1.564129301 | 1.621245877 | 0.822160385 | 1.207937877 |
| 2/15/2014 | 1.763485477 | 1.567340125 | 0.970873786 | 1.112061591 |
| 3/15/2014 | 1.547987616 | 1.656711807 | 0.718978555 | 1.194539249 |
| 4/15/2014 | 2.06185567 | 1.832049941 | 1.004464286 | 1.365187713 |
| 5/15/2014 | 1.540041068 | 1.956207006 | 0.668316832 | 1.534526854 |
| 6/15/2014 | 2.057613169 | 1.933316213 | 0.76704194 | 1.62116041 |
| 7/15/2014 | 1.855670103 | 1.858917328 | 0.786124283 | 1.537147737 |
| 8/15/2014 | 1.846153846 | 1.723740491 | 0.946686597 | 1.964133219 |
| 9/15/2014 | 1.532175689 | 1.728837816 | 0.766662545 | 1.872340426 |
| 10/15/2014 | 1.529051988 | 1.807690018 | 0.716845878 | 2.037351443 |
| 11/15/2014 | 1.221995927 | 1.702494867 | 0.667573248 | 1.957446809 |
| 12/15/2014 | 1.219512195 | 1.606382979 | 0.752065097 | 1.878736123 |
| 1/15/2015 | 1.437371663 | 1.648914249 | 0.627273868 | 1.875532822 |
| 2/15/2015 | 1.22324159 | 1.697765541 | 0.699300699 | 1.776649746 |
| 3/15/2015 | 1.117886179 | 1.753386264 | 0.64 | 2.023608769 |
| 4/15/2015 | 0.707070707 | 1.807510452 | 0.920810313 | 1.851851852 |
| 5/15/2015 | 1.011122346 | 1.718278025 | 1.278583723 | 1.847187238 |
| 6/15/2015 | 0.705645161 | 1.762282864 | 1.190914672 | 1.847187238 |
| 7/15/2015 | 1.113360324 | 1.804835851 | 1.411415129 | 2.018502944 |
| 8/15/2015 | 1.007049345 | 1.827559002 | 1.382033564 | 1.75879397 |
| 9/15/2015 | 1.006036217 | 1.891635021 | 1.300773101 | 1.837928154 |
| 10/15/2015 | 1.104417671 | 1.909670736 | 1.448030433 | 1.663893511 |
| 11/15/2015 | 1.307847082 | 2.017571725 | 0.8964755 | 1.752921536 |
| 12/15/2015 | 1.40562249 | 2.095696786 | 0.905531082 | 1.676445935 |
| 1/15/2016 | 1.214574899 | 2.206915 | 0.997381873 | 1.757322176 |
| 2/15/2016 | 1.10775428 | 2.3312771 | 0.868055556 | 1.662510391 |
| 3/15/2016 | 1.507537688 | 2.194825505 | 1.03950104 | 1.73553719 |
| 4/15/2016 | 1.203610832 | 2.146384232 | 0.729927007 | 1.900826446 |
| 5/15/2016 | 1.201201201 | 2.240633738 | 0.801165331 | 2.061005771 |
| 6/15/2016 | 1.401401401 | 2.244650387 | 0.800776511 | 2.143446002 |
| 7/15/2016 | 1.301301301 | 2.189443812 | 0.86680503 | 2.061005771 |
| 8/15/2016 | 1.296111665 | 2.318968395 | 0.791139241 | 1.893004115 |
| 9/15/2016 | 1.494023904 | 2.207438393 | 0.787401575 | 1.968826907 |
| 10/15/2016 | 1.191658391 | 2.144803984 | 0.749969759 | 1.882160393 |
| 11/15/2016 | 1.390268123 | 2.11082659 | 0.803310613 | 1.722723544 |
| 12/15/2016 | 1.584158416 | 2.196661731 | 0.848896435 | 1.813685078 |
| 1/15/2017 | 1.6 | 2.271723484 | 0.864090853 | 2.220394737 |
| 2/15/2017 | 1.992031873 | 2.223624227 | 0.823702975 | 2.04415372 |
| 3/15/2017 | 1.782178218 | 2.001964621 | 0.689905592 | 1.705930138 |
| 4/15/2017 | 2.477700694 | 1.88265207 | 1.256038647 | 1.540957015 |
| 5/15/2017 | 2.571711177 | 1.733429209 | 0.927263969 | 1.373182553 |
| 6/15/2017 | 2.467917078 | 1.703027515 | 1.191622532 | 1.372074253 |
| 7/15/2017 | 2.470355731 | 1.692069233 | 1.198257081 | 1.453957997 |
| 8/15/2017 | 2.657480315 | 1.684402162 | 1.231735298 | 1.453957997 |
| 9/15/2017 | 2.649656526 | 1.692591595 | 1.153846154 | 1.206757844 |
| 10/15/2017 | 2.649656526 | 1.773547657 | 0.876455757 | 1.365461847 |
| 11/15/2017 | 2.742409403 | 1.711291313 | 0.917652741 | 1.774193548 |
| 12/15/2017 | 2.53411306 | 1.775751202 | 0.925925926 | 1.700404858 |
| 1/15/2018 | 2.657480315 | 1.821395297 | 0.966833925 | 1.528559936 |
| 2/15/2018 | 2.44140625 | 1.847552988 | 0.987684429 | 1.842948718 |
| 3/15/2018 | 2.237354086 | 2.117075888 | 1.105902152 | 1.916932907 |
| 4/15/2018 | 2.030947776 | 2.139150062 | 0.715648855 | 1.837060703 |
| 5/15/2018 | 2.121504339 | 2.237179105 | 1.21703854 | 1.673306773 |
| 6/15/2018 | 1.83044316 | 2.255033451 | 0.951587962 | 1.751592357 |
| 7/15/2018 | 1.832208293 | 2.354169313 | 1.136227724 | 2.308917197 |
| 8/15/2018 | 2.109300096 | 2.199160263 | 1.025885721 | 2.308917197 |
| 9/15/2018 | 1.816443595 | 2.169675932 | 0.938688213 | 1.828298887 |
| 10/15/2018 | 1.816443595 | 2.13887509 | 1.166388955 | 2.06022187 |
| 11/15/2018 | 1.811248808 | 2.214271062 | 0.921273032 | 1.743264659 |
| 12/15/2018 | 1.901140684 | 2.178988634 | 0.917431193 | 2.308917197 |
| 1/15/2019 | 1.917545542 | 2.153645567 | 1.115151515 | 1.901743265 |
| 2/15/2019 | 1.906577693 | 2.08418855 | 1.002173388 | 1.966955153 |
| 3/15/2019 | 1.902949572 | 2.036553525 | 0.760908334 | 1.880877743 |
| 4/15/2019 | 1.800947867 | 2.064779691 | 1.290857414 | 2.039215686 |
| 5/15/2019 | 1.699716714 | 1.988977314 | 0.778026642 | 2.429467085 |
| 6/15/2019 | 1.797540208 | 2.126528442 | 1.11935902 | 2.34741784 |
| 7/15/2019 | 1.988636364 | 2.21005402 | 0.863292337 | 2.178988327 |
| 8/15/2019 | 1.502347418 | 2.386323117 | 0.944621561 | 2.178988327 |
| 9/15/2019 | 1.690140845 | 2.357707533 | 1.012360212 | 2.107728337 |
| 10/15/2019 | 1.784037559 | 2.31449493 | 1.070588235 | 2.01863354 |
| 11/15/2019 | 1.685393258 | 2.316821366 | 1.304090101 | 2.024922118 |
| 12/15/2019 | 1.305970149 | 2.258735618 | 1.286894923 | 1.789883268 |
| 1/15/2020 | 1.599247413 | 2.261246646 | 1.0908655 | 1.866251944 |
| 2/15/2020 | 1.590271282 | 2.356824988 | 1.207411835 | 1.929012346 |
| 3/15/2020 | 1.587301587 | 2.091385447 | 1.038348083 | 1.692307692 |
| 4/15/2020 | 1.396648045 | 1.432154674 | 0.853501695 | 1.306687164 |
| 5/15/2020 | 1.207056639 | 1.222057199 | 0.900690139 | 0.612088753 |
| 6/15/2020 | 1.486988848 | 1.187413794 | 0.827312981 | 0.993883792 |
| 7/15/2020 | 1.857010214 | 1.569625824 | 1.184195099 | 0.456968774 |
| 8/15/2020 | 0.832562442 | 1.736388448 | 0.374312785 | 0.456968774 |
| 9/15/2020 | 1.292705448 | 1.713279047 | 0.209765762 | 0.840978593 |
| 10/15/2020 | 1.383763838 | 1.610584813 | 0.221161681 | 0.837138508 |
| 11/15/2020 | 1.104972376 | 1.646498785 | 0.245757753 | 1.297709924 |
| 12/15/2020 | 1.38121547 | 1.619642554 | 0.221471034 | 1.070336391 |
| 1/15/2021 | 1.481481481 | 1.410129171 | 1.411122969 | 1.374045802 |
| 2/15/2021 | 0.920810313 | 1.28260772 | 1.110323648 | 0.757002271 |
| 3/15/2021 | 1.102941176 | 1.646390734 | 0.934252014 | 0.907715582 |
| 4/15/2021 | 1.285583104 | 2.961039351 | 0.730350104 | 1.820940819 |
| 5/15/2021 | 1.926605505 | 3.797606462 | 0.939021563 | 2.357414449 |
| 6/15/2021 | 2.289377289 | 4.474619042 | 0.878308101 | 2.195306586 |
| 7/15/2021 | 1.823154057 | 4.274513173 | 0.706836616 | 2.805155421 |
| 8/15/2021 | 3.211009174 | 4.000282784 | 1.549935905 | 3.032600455 |
| 9/15/2021 | 2.91704649 | 4.025214269 | 1.872310734 | 3.260045489 |
| 10/15/2021 | 3.457688808 | 4.562837878 | 2.044134727 | 3.245283019 |
| 11/15/2021 | 4.007285974 | 4.928508608 | 2.603315433 | 3.089675961 |
| 12/15/2021 | 4.268846503 | 5.453410889 | 2.62851826 | 3.403933434 |
| 1/15/2022 | 4.379562044 | 6.020648366 | 2.26847521 | 3.539156627 |
| 2/15/2022 | 5.200729927 | 6.414206342 | 2.721962617 | 3.906836965 |
| 3/15/2022 | 5.727272727 | 6.474478586 | 2.950364457 | 4.647676162 |
| 4/15/2022 | 6.165004533 | 6.160573498 | 3.487167683 | 4.619970194 |
| 5/15/2022 | 5.940594059 | 6.021537335 | 3.755598943 | 5.200594354 |
| 6/15/2022 | 5.81915846 | 5.916942829 | 3.734677512 | 5.333333333 |
| 7/15/2022 | 6.177260519 | 5.910885343 | 4.015648372 | 5.530973451 |
| 8/15/2022 | 6.222222222 | 6.322203022 | 4.303419784 | 5.298013245 |
| 9/15/2022 | 6.465899026 | 6.630604107 | 4.748858447 | 5.43318649 |
| 10/15/2022 | 6.420404573 | 6.28442175 | 5.019348964 | 5.33625731 |
| 11/15/2022 | 6.304728546 | 5.957829067 | 4.983502105 | 5.409356725 |
| 12/15/2022 | 6.358885017 | 5.707834932 | 5.179057117 | 5.340160936 |
| 1/15/2023 | 5.769230769 | 5.582595561 | 5.293848617 | 4.945454545 |
| 2/15/2023 | 6.157849089 | 5.537754418 | 5.606732628 | 4.844540853 |
| 3/15/2023 | 6.190885641 | 5.589602668 | 5.664194201 | 4.512893983 |
| 4/15/2023 | 6.83176772 | 5.519415773 | 5.59386121 | 4.415954416 |
| 5/15/2023 | 7.136788445 | 5.329805201 | 5.346468895 | 3.95480226 |
| 6/15/2023 | 6.852791878 | 4.828967015 | 5.477636665 | 3.516174402 |
| 7/15/2023 | 6.829679595 | 4.652861869 | 5.497787611 | 3.424178896 |
| 8/15/2023 | 6.192468619 | 4.349245233 | 5.281109033 | 3.633822502 |
| 9/15/2023 | 6.073211314 | 4.146534335 | 4.522667829 | 3.203342618 |
| 10/15/2023 | 5.702479339 | 4.030870488 | 4.183374878 | 3.400416378 |
| 11/15/2023 | 5.10708402 | 4.007343124 | 3.565622629 | 3.536754508 |
| 12/15/2023 | 5.077805078 | 3.929853089 | 3.426354919 | 3.402777778 |
| 1/15/2024 | 5.041322314 | 3.861744193 | 3.257682702 | 3.118503119 |
| 2/15/2024 | 4.493464052 | 3.752495798 | 3.101443033 | 2.827586207 |
| 3/15/2024 | 4.210526316 | 3.801280624 | 2.946181663 | 2.87868403 |
| 4/15/2024 | 3.836930456 | 3.609982437 | 2.654028436 | 2.660300136 |
| 5/15/2024 | 3.489294211 | 3.418739614 | 2.858043501 | 2.85326087 |
| 6/15/2024 | 3.562945368 | 3.267294681 | 2.858339441 | 2.85326087 |
| 7/15/2024 | 3.314917127 | 3.171278789 | 2.841564433 | 2.702702703 |
| 8/15/2024 | 3.624901497 | 3.197002286 | 2.832061866 | 2.360080917 |
| 9/15/2024 | 3.215686275 | 3.311273193 | 2.669169013 | 2.361673414 |
| 10/15/2024 | 3.283815481 | 3.332905132 | 2.683865599 | 2.281879195 |
| 11/15/2024 | 3.526645768 | 3.318613891 | 2.710339054 | 1.942397857 |
| 12/15/2024 | 3.19563523 | 3.238144703 | 2.708615481 | 2.149093351 |
| 1/15/2025 | 3.776553895 | 3.258370719 | 2.702702703 | 2.150537634 |
| 2/15/2025 | 3.518373729 | 3.117440611 | 2.559013996 | 2.88397049 |
| 3/15/2025 | 3.418803419 | 2.789446463 | 2.42793677 | 2.398401066 |
| 4/15/2025 | 3.849114704 | 2.779123084 | 2.749563968 | 2.591362126 |
| 5/15/2025 | 3.524904215 | 2.786940297 | 2.278067218 | 2.575957728 |
| 6/15/2025 | 3.669724771 | 2.934455162 | 2.300488599 | 2.642007926 |
| 7/15/2025 | 3.743315508 | 3.059389626 | 2.314437194 | 2.5 |
| 8/15/2025 | 3.574144487 | 3.110147273 | 2.276422764 | 2.437417655 |
| 9/15/2025 | 3.495440729 | 3.019224002 | 2.356047527 | 2.43902439 |
| 10/15/2025 | 3.40651022 | 2.751569019 | 2.39084186 | 2.690288714 |
| 11/15/2025 | 3.179409538 | 2.633352695 | 2.414671421 | 2.431011827 |
| 12/15/2025 | 3.247734139 | 2.639383616 | 2.322750786 | 2.498356345 |
| 1/15/2026 | 3.032600455 | 2.503690071 | 2.181036248 | 2.368421053 |
Note: Headline and core inflation are measured by the CPI indexes for the U.S., Canada, and the U.K. and the HICP indexes for the euro area. Core CPI includes all items less food and energy for the U.S. and Canada and all items less food, energy, alcohol, and tobacco for the U.K. and euro area. Data extend through January 0226 for all countries. Missing U.S. CPI Data for October 2025 were estimated through linear interpolation.
Source: Haver Analytics; Federal Reserve Board staff calculations.
Return to text
Figure 2: Diffusion Indexes for 12-month Headline Inflation in Selected Advanced Economies
Top Left
United States
Weighted share of CPI basket (12-month growth)
| Period | DI, >3% | DI, 0 - 3 % | DI, <0% |
|---|---|---|---|
| 1/15/2014 | 14.3657519 | 73.56357488 | 12.07067322 |
| 2/15/2014 | 15.16982642 | 64.4480016 | 20.38217198 |
| 3/15/2014 | 16.63914988 | 61.48650677 | 21.87434335 |
| 4/15/2014 | 21.36782069 | 63.69021413 | 14.94196518 |
| 5/15/2014 | 26.41146985 | 60.701958 | 12.88657215 |
| 6/15/2014 | 26.32142393 | 57.77246396 | 15.90611212 |
| 7/15/2014 | 25.5255706 | 61.71864838 | 12.75578103 |
| 8/15/2014 | 24.37294274 | 56.94690398 | 18.68015328 |
| 9/15/2014 | 21.69571569 | 56.18133792 | 22.12294639 |
| 10/15/2014 | 25.51856633 | 52.70314892 | 21.77828475 |
| 11/15/2014 | 25.44945225 | 53.85223351 | 20.69831424 |
| 12/15/2014 | 30.57537042 | 49.68435165 | 19.74027793 |
| 1/15/2015 | 27.82558233 | 52.04114304 | 20.13327463 |
| 2/15/2015 | 28.29367382 | 52.25648928 | 19.44983689 |
| 3/15/2015 | 24.81164641 | 55.0572815 | 20.13107209 |
| 4/15/2015 | 27.26745117 | 52.49459654 | 20.23795229 |
| 5/15/2015 | 23.9192651 | 52.50370252 | 23.57703238 |
| 6/15/2015 | 24.20552331 | 49.34160496 | 26.45287172 |
| 7/15/2015 | 23.2306553 | 51.06781154 | 25.70153317 |
| 8/15/2015 | 48.68502692 | 24.88441447 | 26.43055861 |
| 9/15/2015 | 49.97948585 | 24.69904234 | 25.32147182 |
| 10/15/2015 | 45.59391574 | 28.66906835 | 25.73701591 |
| 11/15/2015 | 47.35067196 | 28.52167996 | 24.12764808 |
| 12/15/2015 | 45.5066194 | 34.62116205 | 19.87221855 |
| 1/15/2016 | 46.2770112 | 33.0793263 | 20.64366251 |
| 2/15/2016 | 51.90177659 | 28.04194123 | 20.05628217 |
| 3/15/2016 | 48.98110411 | 28.22466779 | 22.79422809 |
| 4/15/2016 | 48.98459875 | 28.43824478 | 22.57715648 |
| 5/15/2016 | 50.01051504 | 22.61634137 | 27.3731436 |
| 6/15/2016 | 48.58848153 | 24.42392621 | 26.98759226 |
| 7/15/2016 | 47.51694924 | 24.82950619 | 27.65354457 |
| 8/15/2016 | 47.7703562 | 28.27386615 | 23.95577765 |
| 9/15/2016 | 47.92841334 | 26.98821244 | 25.08337423 |
| 10/15/2016 | 49.30150115 | 27.60948156 | 23.08901729 |
| 11/15/2016 | 49.38464466 | 30.74373379 | 19.87162155 |
| 12/15/2016 | 53.29307738 | 27.83168604 | 18.87523658 |
| 1/15/2017 | 53.94160949 | 27.23621614 | 18.82217437 |
| 2/15/2017 | 54.25721553 | 25.18076392 | 20.56202055 |
| 3/15/2017 | 53.93359708 | 26.26571185 | 19.80069107 |
| 4/15/2017 | 51.2479218 | 29.12585381 | 19.62622439 |
| 5/15/2017 | 49.76314234 | 32.45100101 | 17.78585664 |
| 6/15/2017 | 44.57208673 | 32.8008413 | 22.62707196 |
| 7/15/2017 | 48.2392885 | 28.55297158 | 23.20773992 |
| 8/15/2017 | 46.87653369 | 31.22464719 | 21.89881912 |
| 9/15/2017 | 47.00438676 | 31.08887687 | 21.90673637 |
| 10/15/2017 | 49.76964064 | 28.59761228 | 21.63274709 |
| 11/15/2017 | 49.1841702 | 27.88845819 | 22.92737162 |
| 12/15/2017 | 47.92642877 | 26.92438624 | 25.14918499 |
| 1/15/2018 | 47.71077582 | 28.98649393 | 23.30273025 |
| 2/15/2018 | 50.35390699 | 25.21299494 | 24.43309806 |
| 3/15/2018 | 47.56998678 | 33.08802916 | 19.34198406 |
| 4/15/2018 | 47.42269073 | 33.36536825 | 19.21194102 |
| 5/15/2018 | 49.82880827 | 28.86332693 | 21.30786481 |
| 6/15/2018 | 49.6756497 | 29.85824691 | 20.46610339 |
| 7/15/2018 | 49.54249675 | 36.92061267 | 13.53689058 |
| 8/15/2018 | 47.66128709 | 38.83504866 | 13.50366425 |
| 9/15/2018 | 47.5337131 | 36.88267743 | 15.58360948 |
| 10/15/2018 | 48.54525431 | 38.32699239 | 13.1277533 |
| 11/15/2018 | 52.48598318 | 34.00981177 | 13.50420505 |
| 12/15/2018 | 48.96931471 | 30.79841818 | 20.23226711 |
| 1/15/2019 | 45.77046686 | 38.5328541 | 15.69667905 |
| 2/15/2019 | 46.51276866 | 33.95333006 | 19.53390127 |
| 3/15/2019 | 47.53814425 | 34.40290737 | 18.05894838 |
| 4/15/2019 | 51.12076647 | 37.0228358 | 11.85639773 |
| 5/15/2019 | 43.39486646 | 36.70764426 | 19.89748929 |
| 6/15/2019 | 49.00194206 | 33.10909564 | 17.8889623 |
| 7/15/2019 | 49.26173959 | 33.64565502 | 17.09260538 |
| 8/15/2019 | 46.76578065 | 35.83320819 | 17.40101116 |
| 9/15/2019 | 44.92496822 | 39.48503869 | 15.58999309 |
| 10/15/2019 | 50.05205622 | 34.9937933 | 14.95415048 |
| 11/15/2019 | 48.9443282 | 31.24067715 | 19.81499464 |
| 12/15/2019 | 52.75728661 | 30.86637534 | 16.37633805 |
| 1/15/2020 | 50.12881302 | 33.36908688 | 16.5021001 |
| 2/15/2020 | 53.2546158 | 33.29891947 | 13.44646473 |
| 3/15/2020 | 49.51532223 | 31.75616749 | 18.72851028 |
| 4/15/2020 | 52.48378397 | 24.9140325 | 22.60218352 |
| 5/15/2020 | 54.00070179 | 20.33786155 | 25.66143666 |
| 6/15/2020 | 28.11680187 | 50.04439601 | 21.83880211 |
| 7/15/2020 | 30.05864368 | 48.99503784 | 20.94631848 |
| 8/15/2020 | 24.3248391 | 57.61372978 | 18.06143112 |
| 9/15/2020 | 24.14304449 | 62.70957329 | 13.14738223 |
| 10/15/2020 | 22.43678996 | 63.32909579 | 14.23411425 |
| 11/15/2020 | 22.65584789 | 61.7750058 | 15.56914631 |
| 12/15/2020 | 24.68115826 | 59.85301195 | 15.46582979 |
| 1/15/2021 | 26.33006889 | 57.61833201 | 16.05159911 |
| 2/15/2021 | 24.77986787 | 60.70906248 | 14.51106965 |
| 3/15/2021 | 31.88323936 | 53.88983589 | 14.22692475 |
| 4/15/2021 | 35.0627995 | 54.40403531 | 10.5331652 |
| 5/15/2021 | 40.2455758 | 50.24214541 | 9.51227879 |
| 6/15/2021 | 42.51102433 | 48.27193009 | 9.217045581 |
| 7/15/2021 | 42.03628219 | 52.58293648 | 5.380781338 |
| 8/15/2021 | 43.96509106 | 49.23472734 | 6.800181607 |
| 9/15/2021 | 46.5464708 | 48.28080229 | 5.172726906 |
| 10/15/2021 | 73.96230603 | 21.5035212 | 4.534172771 |
| 11/15/2021 | 80.28274185 | 15.05635665 | 4.660901505 |
| 12/15/2021 | 79.3100345 | 15.94820259 | 4.741762912 |
| 1/15/2022 | 82.63480355 | 15.60337733 | 1.761819124 |
| 2/15/2022 | 83.89066087 | 14.60699267 | 1.502346464 |
| 3/15/2022 | 86.35901155 | 11.60405774 | 2.036930702 |
| 4/15/2022 | 85.18145263 | 13.09119494 | 1.727352434 |
| 5/15/2022 | 85.93792173 | 11.40500825 | 2.657070025 |
| 6/15/2022 | 87.05275252 | 9.030619444 | 3.916628031 |
| 7/15/2022 | 86.76181549 | 9.365708123 | 3.872476389 |
| 8/15/2022 | 86.4444534 | 9.600459613 | 3.955086984 |
| 9/15/2022 | 85.58648608 | 7.938427708 | 6.475086211 |
| 10/15/2022 | 82.761882 | 13.34275648 | 3.895361527 |
| 11/15/2022 | 80.01954916 | 13.84967301 | 6.130777835 |
| 12/15/2022 | 78.22423266 | 12.58268867 | 9.193078671 |
| 1/15/2023 | 78.52325957 | 15.79308674 | 5.683653691 |
| 2/15/2023 | 76.64684563 | 12.78204598 | 10.5711084 |
| 3/15/2023 | 74.91293731 | 12.47798415 | 12.60907854 |
| 4/15/2023 | 74.3203082 | 12.04883174 | 13.63086006 |
| 5/15/2023 | 75.38500025 | 8.941812178 | 15.67318757 |
| 6/15/2023 | 76.44975033 | 9.297415216 | 14.25283446 |
| 7/15/2023 | 73.8832406 | 9.698595045 | 16.41816435 |
| 8/15/2023 | 62.92496744 | 21.31829518 | 15.75673738 |
| 9/15/2023 | 68.35980107 | 16.87230444 | 14.76789449 |
| 10/15/2023 | 63.25781083 | 17.84969428 | 18.89249489 |
| 11/15/2023 | 65.91920035 | 14.58628096 | 19.49451869 |
| 12/15/2023 | 65.08063548 | 14.11721157 | 20.80215295 |
| 1/15/2024 | 64.23199131 | 17.42247516 | 18.34553352 |
| 2/15/2024 | 63.19075492 | 15.76367002 | 21.04557507 |
| 3/15/2024 | 63.3795025 | 15.1784906 | 21.4420069 |
| 4/15/2024 | 63.71397971 | 15.56803945 | 20.71798084 |
| 5/15/2024 | 62.01877171 | 17.70513784 | 20.27609045 |
| 6/15/2024 | 61.77362987 | 16.28731362 | 21.93905651 |
| 7/15/2024 | 61.42403969 | 14.72741322 | 23.84854709 |
| 8/15/2024 | 58.62414259 | 18.57808041 | 22.797777 |
| 9/15/2024 | 59.89640953 | 18.79814945 | 21.30544101 |
| 10/15/2024 | 62.25600276 | 15.61582311 | 22.12817412 |
| 11/15/2024 | 62.77968582 | 17.05041966 | 20.16989453 |
| 12/15/2024 | 57.538634 | 20.62214749 | 21.83921851 |
| 1/15/2025 | 55.60915175 | 26.48949458 | 17.90135367 |
| 2/15/2025 | 59.04959223 | 21.29124646 | 19.65916131 |
| 3/15/2025 | 57.46755546 | 22.29392784 | 20.23851671 |
| 4/15/2025 | 60.2905471 | 24.78856426 | 14.92088864 |
| 5/15/2025 | 59.14434283 | 25.75267077 | 15.1029864 |
| 6/15/2025 | 61.98767693 | 22.73394106 | 15.27838202 |
| 7/15/2025 | 68.03000845 | 20.17325095 | 11.7967406 |
| 8/15/2025 | 68.00566001 | 16.93422781 | 15.06011218 |
| 9/15/2025 | 68.34774256 | 21.8120874 | 9.840170049 |
| 10/15/2025 | 61.57529189 | 23.92548875 | 14.49921936 |
| 11/15/2025 | 51.81169757 | 34.77073568 | 13.41756674 |
| 12/15/2025 | 53.84515446 | 32.14239314 | 14.0124524 |
| 1/15/2026 | 56.26807073 | 28.20707916 | 15.52485011 |
Top Right
Canada
Weighted share of CPI basket (12-month growth)
| Period | DI, >3% | DI, 0 - 3 % | DI, <0% |
|---|---|---|---|
| 1/15/2014 | 24.76564862 | 56.54671908 | 18.6876323 |
| 2/15/2014 | 21.89295434 | 49.4808991 | 28.62614656 |
| 3/15/2014 | 22.84043947 | 51.42626751 | 25.73329301 |
| 4/15/2014 | 28.2229614 | 49.66233243 | 22.11470618 |
| 5/15/2014 | 28.21288177 | 55.45811914 | 16.32899909 |
| 6/15/2014 | 29.94657797 | 54.89365991 | 15.15976212 |
| 7/15/2014 | 20.34069146 | 64.51970567 | 15.13960286 |
| 8/15/2014 | 23.3343413 | 57.41356718 | 19.25209152 |
| 9/15/2014 | 25.6224171 | 52.50478782 | 21.87279508 |
| 10/15/2014 | 25.22931156 | 60.56849108 | 14.20219736 |
| 11/15/2014 | 24.26166717 | 57.81675234 | 17.92158049 |
| 12/15/2014 | 23.04203205 | 59.02630783 | 17.93166011 |
| 1/15/2015 | 25.46132903 | 59.57446809 | 14.96420288 |
| 2/15/2015 | 28.43601896 | 47.27236059 | 24.29162045 |
| 3/15/2015 | 23.78743572 | 59.32237572 | 16.89018857 |
| 4/15/2015 | 20.94383382 | 62.70041343 | 16.35575275 |
| 5/15/2015 | 24.69496824 | 59.3627105 | 15.94232127 |
| 6/15/2015 | 27.83099728 | 55.05697287 | 17.11202985 |
| 7/15/2015 | 27.61923969 | 57.80982152 | 14.57093879 |
| 8/15/2015 | 24.9470606 | 60.84501361 | 14.20792578 |
| 9/15/2015 | 20.57073712 | 63.21468186 | 16.21458102 |
| 10/15/2015 | 19.96571544 | 64.69698498 | 15.33729959 |
| 11/15/2015 | 23.71684985 | 57.61823132 | 18.66491883 |
| 12/15/2015 | 27.0243017 | 50.75123525 | 22.22446304 |
| 1/15/2016 | 28.67802763 | 48.73449632 | 22.58747605 |
| 2/15/2016 | 27.43773319 | 47.27236059 | 25.28990622 |
| 3/15/2016 | 27.972169 | 47.01018453 | 25.01764647 |
| 4/15/2016 | 25.98568115 | 50.38822224 | 23.6260966 |
| 5/15/2016 | 24.05969547 | 58.37450842 | 17.56579611 |
| 6/15/2016 | 27.94191792 | 52.45537965 | 19.60270243 |
| 7/15/2016 | 28.58727438 | 48.80508218 | 22.60764344 |
| 8/15/2016 | 27.32681254 | 46.92951497 | 25.74367248 |
| 9/15/2016 | 24.30170414 | 50.81173742 | 24.88655844 |
| 10/15/2016 | 24.64454976 | 53.26207522 | 22.09337501 |
| 11/15/2016 | 25.74367248 | 45.84047595 | 28.41585157 |
| 12/15/2016 | 22.50680649 | 55.51073913 | 21.98245437 |
| 1/15/2017 | 33.05494063 | 46.45803985 | 20.48701952 |
| 2/15/2017 | 35.72147313 | 39.38418193 | 24.89434494 |
| 3/15/2017 | 25.66914872 | 47.34352989 | 26.98732139 |
| 4/15/2017 | 25.3773395 | 52.95834172 | 21.66431878 |
| 5/15/2017 | 21.29201046 | 56.44998994 | 22.2579996 |
| 6/15/2017 | 20.28577179 | 48.06802173 | 31.64620648 |
| 7/15/2017 | 20.63795532 | 57.9291608 | 21.43288388 |
| 8/15/2017 | 25.21634132 | 52.56590863 | 22.21775005 |
| 9/15/2017 | 21.77500503 | 58.55302878 | 19.67196619 |
| 10/15/2017 | 20.66814248 | 59.28758301 | 20.0442745 |
| 11/15/2017 | 31.75689273 | 53.39102435 | 14.85208291 |
| 12/15/2017 | 31.27389817 | 52.83759308 | 15.88850875 |
| 1/15/2018 | 25.00503119 | 55.97705776 | 19.01791105 |
| 2/15/2018 | 27.60112699 | 57.32541759 | 15.07345542 |
| 3/15/2018 | 25.02515597 | 56.0978064 | 18.87703763 |
| 4/15/2018 | 26.07164419 | 56.82229825 | 17.10605756 |
| 5/15/2018 | 24.6226605 | 57.37572952 | 18.00160998 |
| 6/15/2018 | 26.17226806 | 56.11793117 | 17.70980076 |
| 7/15/2018 | 31.75689273 | 52.53572147 | 15.70738579 |
| 8/15/2018 | 31.77701751 | 52.02253975 | 16.20044275 |
| 9/15/2018 | 32.34051117 | 52.93821695 | 14.72127189 |
| 10/15/2018 | 33.90018112 | 51.46910847 | 14.6307104 |
| 11/15/2018 | 29.37210706 | 51.52948279 | 19.09841014 |
| 12/15/2018 | 35.46991346 | 47.1020326 | 17.42805393 |
| 1/15/2019 | 28.63213274 | 52.95426953 | 18.41359773 |
| 2/15/2019 | 22.71347633 | 56.35370295 | 20.93282072 |
| 3/15/2019 | 22.81464994 | 63.48644274 | 13.69890732 |
| 4/15/2019 | 27.7519223 | 55.32173209 | 16.92634561 |
| 5/15/2019 | 37.50505868 | 51.93241603 | 10.56252529 |
| 6/15/2019 | 30.6859571 | 52.53945771 | 16.77458519 |
| 7/15/2019 | 28.12626467 | 53.48037232 | 18.39336301 |
| 8/15/2019 | 34.43949818 | 48.85673816 | 16.70376366 |
| 9/15/2019 | 34.69243221 | 44.99190611 | 20.31566168 |
| 10/15/2019 | 35.15783084 | 41.44071226 | 23.4014569 |
| 11/15/2019 | 31.91015783 | 56.54593282 | 11.54390935 |
| 12/15/2019 | 34.51031971 | 48.51274788 | 16.97693242 |
| 1/15/2020 | 28.24767301 | 59.08539053 | 12.66693646 |
| 2/15/2020 | 28.01497369 | 59.67219749 | 12.31282881 |
| 3/15/2020 | 20.85188183 | 59.97571833 | 19.17239984 |
| 4/15/2020 | 22.78429786 | 54.22905706 | 22.98664508 |
| 5/15/2020 | 23.50263051 | 52.25617159 | 24.2411979 |
| 6/15/2020 | 18.67664913 | 59.86442736 | 21.45892351 |
| 7/15/2020 | 22.89558883 | 54.44152165 | 22.66288952 |
| 8/15/2020 | 14.1238365 | 62.23188992 | 23.64427357 |
| 9/15/2020 | 13.65843788 | 64.06313234 | 22.27842979 |
| 10/15/2020 | 23.0878187 | 54.62363416 | 22.28854715 |
| 11/15/2020 | 22.6426548 | 49.43342776 | 27.92391744 |
| 12/15/2020 | 23.64427357 | 49.82800486 | 26.52772157 |
| 1/15/2021 | 20.52812626 | 50.84985836 | 28.62201538 |
| 2/15/2021 | 26.26467017 | 50.34399029 | 23.39133954 |
| 3/15/2021 | 35.62322946 | 43.7373533 | 20.63941724 |
| 4/15/2021 | 37.18130312 | 44.74908944 | 18.06960745 |
| 5/15/2021 | 43.85876163 | 35.80534197 | 20.3358964 |
| 6/15/2021 | 44.39947384 | 36.63867247 | 18.96185369 |
| 7/15/2021 | 47.31356875 | 37.8427603 | 14.84367095 |
| 8/15/2021 | 53.16199535 | 30.57775979 | 16.26024486 |
| 9/15/2021 | 50.21754528 | 36.01133259 | 13.77112213 |
| 10/15/2021 | 55.48922392 | 29.57603966 | 14.93473642 |
| 11/15/2021 | 60.03237883 | 25.67034301 | 14.29727815 |
| 12/15/2021 | 60.29545685 | 28.15946575 | 11.54507741 |
| 1/15/2022 | 69.20975412 | 18.93149853 | 11.85874734 |
| 2/15/2022 | 69.50318729 | 18.91126176 | 11.58555095 |
| 3/15/2022 | 67.84377213 | 19.05291915 | 13.10330871 |
| 4/15/2022 | 72.73095214 | 12.60750784 | 14.66154002 |
| 5/15/2022 | 77.40072934 | 13.7560778 | 8.843192869 |
| 6/15/2022 | 78.30226904 | 13.01661264 | 8.681118314 |
| 7/15/2022 | 77.92747164 | 16.67341977 | 5.39910859 |
| 8/15/2022 | 82.24270665 | 12.46961102 | 5.287682334 |
| 9/15/2022 | 82.69854133 | 11.17301459 | 6.128444084 |
| 10/15/2022 | 86.57820097 | 6.797001621 | 6.624797407 |
| 11/15/2022 | 85.67666126 | 8.964748784 | 5.358589951 |
| 12/15/2022 | 80.27755267 | 14.7589141 | 4.963533225 |
| 1/15/2023 | 75.80024311 | 13.90802269 | 10.2917342 |
| 2/15/2023 | 75.61790924 | 11.03119935 | 13.35089141 |
| 3/15/2023 | 68.1726094 | 15.31604538 | 16.51134522 |
| 4/15/2023 | 66.14667747 | 18.06118314 | 15.79213938 |
| 5/15/2023 | 66.95918367 | 11.81632653 | 21.2244898 |
| 6/15/2023 | 61.5 | 14.98979592 | 23.51020408 |
| 7/15/2023 | 55.81632653 | 19.25510204 | 24.92857143 |
| 8/15/2023 | 60.03061224 | 20.90816327 | 19.06122449 |
| 9/15/2023 | 59.70408163 | 24.8877551 | 15.40816327 |
| 10/15/2023 | 55.68367347 | 22.37755102 | 21.93877551 |
| 11/15/2023 | 53.60204082 | 24.32653061 | 22.07142857 |
| 12/15/2023 | 52.78571429 | 30.93877551 | 16.2755102 |
| 1/15/2024 | 49.74489796 | 28.17346939 | 22.08163265 |
| 2/15/2024 | 48.25510204 | 31.20408163 | 20.54081633 |
| 3/15/2024 | 48.74489796 | 28.15306122 | 23.10204082 |
| 4/15/2024 | 47.10204082 | 28.80612245 | 24.09183673 |
| 5/15/2024 | 49.84678243 | 28.25331971 | 21.89989785 |
| 6/15/2024 | 40.8784474 | 30.46986721 | 28.65168539 |
| 7/15/2024 | 38.4473953 | 26.54749745 | 35.00510725 |
| 8/15/2024 | 39.17262513 | 21.7875383 | 39.03983657 |
| 9/15/2024 | 40.41879469 | 23.1154239 | 36.46578141 |
| 10/15/2024 | 40.92951992 | 23.92236977 | 35.14811032 |
| 11/15/2024 | 36.86414709 | 27.13993871 | 35.9959142 |
| 12/15/2024 | 36.83350358 | 26.73135853 | 36.4351379 |
| 1/15/2025 | 41.06230848 | 30.97037794 | 27.96731359 |
| 2/15/2025 | 43.61593463 | 30.23493361 | 26.14913177 |
| 3/15/2025 | 43.13585291 | 38.91726251 | 17.94688458 |
| 4/15/2025 | 49.08069459 | 31.65474974 | 19.26455567 |
| 5/15/2025 | 48.17533129 | 30.68297655 | 21.14169215 |
| 6/15/2025 | 49.20489297 | 31.75331295 | 19.04179409 |
| 7/15/2025 | 50.82568807 | 27.78797146 | 21.38634047 |
| 8/15/2025 | 49.80632008 | 29.44954128 | 20.74413863 |
| 9/15/2025 | 50 | 30.18348624 | 19.81651376 |
| 10/15/2025 | 44.09785933 | 32.83384302 | 23.06829766 |
| 11/15/2025 | 49.14373089 | 29.39857288 | 21.45769623 |
| 12/15/2025 | 52.01834862 | 25.86136595 | 22.12028542 |
| 1/15/2026 | 44.98470948 | 32.44648318 | 22.56880734 |
Bottom Left
U.K.
Weighted share of CPI basket (12-month growth)
| Period | DI, >3% | DI, 0 - 3 % | DI, <0% |
|---|---|---|---|
| 1/15/2014 | 13.7 | 66.6 | 19.7 |
| 2/15/2014 | 18.6 | 57.1 | 24.3 |
| 3/15/2014 | 18.3 | 63.4 | 18.3 |
| 4/15/2014 | 18.9 | 62.1 | 19 |
| 5/15/2014 | 12.7 | 56.6 | 30.7 |
| 6/15/2014 | 18.6 | 64.6 | 16.8 |
| 7/15/2014 | 20.5 | 54.1 | 25.4 |
| 8/15/2014 | 18 | 57.8 | 24.2 |
| 9/15/2014 | 19.2 | 54.7 | 26.1 |
| 10/15/2014 | 17.3 | 48.8 | 33.9 |
| 11/15/2014 | 17.3 | 45.8 | 36.9 |
| 12/15/2014 | 16.1 | 44.4 | 39.5 |
| 1/15/2015 | 14.1 | 51.4 | 34.5 |
| 2/15/2015 | 14.9 | 48.1 | 37 |
| 3/15/2015 | 14 | 42.2 | 43.8 |
| 4/15/2015 | 10.8 | 41.9 | 47.3 |
| 5/15/2015 | 14.7 | 49.3 | 36 |
| 6/15/2015 | 14.4 | 42.1 | 43.5 |
| 7/15/2015 | 14 | 48 | 38 |
| 8/15/2015 | 12.7 | 49.1 | 38.2 |
| 9/15/2015 | 12.4 | 45.8 | 41.8 |
| 10/15/2015 | 12.9 | 51.1 | 36 |
| 11/15/2015 | 20.5 | 44.2 | 35.3 |
| 12/15/2015 | 14.1 | 43.7 | 42.2 |
| 1/15/2016 | 11.9 | 57.2 | 30.9 |
| 2/15/2016 | 11.1 | 55.2 | 33.7 |
| 3/15/2016 | 12.3 | 57.8 | 29.9 |
| 4/15/2016 | 15.4 | 52 | 32.6 |
| 5/15/2016 | 15.6 | 46.2 | 38.2 |
| 6/15/2016 | 20.7 | 38.7 | 40.6 |
| 7/15/2016 | 20.2 | 32.1 | 47.7 |
| 8/15/2016 | 19 | 38.9 | 42.1 |
| 9/15/2016 | 21.9 | 45.7 | 32.4 |
| 10/15/2016 | 23.4 | 35 | 41.6 |
| 11/15/2016 | 20 | 47.6 | 32.4 |
| 12/15/2016 | 20.6 | 50.8 | 28.6 |
| 1/15/2017 | 22.8 | 46.9 | 30.3 |
| 2/15/2017 | 25.3 | 46 | 28.7 |
| 3/15/2017 | 23.4 | 58.5 | 18.1 |
| 4/15/2017 | 33.9 | 50.7 | 15.4 |
| 5/15/2017 | 36.9 | 51.3 | 11.8 |
| 6/15/2017 | 38.2 | 47.9 | 13.9 |
| 7/15/2017 | 38 | 47 | 15 |
| 8/15/2017 | 36.7 | 50.4 | 12.9 |
| 9/15/2017 | 48.6 | 40.9 | 10.5 |
| 10/15/2017 | 56.1 | 37.2 | 6.7 |
| 11/15/2017 | 57.6 | 36 | 6.4 |
| 12/15/2017 | 54.7 | 38.1 | 7.2 |
| 1/15/2018 | 53 | 38.5 | 8.5 |
| 2/15/2018 | 43.2 | 44.3 | 12.5 |
| 3/15/2018 | 34.4 | 55.4 | 10.2 |
| 4/15/2018 | 35.3 | 55.9 | 8.8 |
| 5/15/2018 | 30.8 | 58.7 | 10.5 |
| 6/15/2018 | 32.9 | 55.8 | 11.3 |
| 7/15/2018 | 38 | 44.4 | 17.6 |
| 8/15/2018 | 39 | 48.9 | 12.1 |
| 9/15/2018 | 34.7 | 48.1 | 17.2 |
| 10/15/2018 | 34.9 | 44.9 | 20.2 |
| 11/15/2018 | 31.5 | 52.1 | 16.4 |
| 12/15/2018 | 34.3 | 46 | 19.7 |
| 1/15/2019 | 27.1 | 54.7 | 18.2 |
| 2/15/2019 | 30.1 | 52.5 | 17.4 |
| 3/15/2019 | 28.5 | 53.9 | 17.6 |
| 4/15/2019 | 32.8 | 40.4 | 26.8 |
| 5/15/2019 | 33.4 | 47.7 | 18.9 |
| 6/15/2019 | 29.9 | 56.9 | 13.2 |
| 7/15/2019 | 34.2 | 54.2 | 11.6 |
| 8/15/2019 | 24.1 | 61.9 | 14 |
| 9/15/2019 | 25.6 | 56.7 | 17.7 |
| 10/15/2019 | 23.6 | 60.3 | 16.1 |
| 11/15/2019 | 23.8 | 61.5 | 14.7 |
| 12/15/2019 | 19.4 | 61 | 19.6 |
| 1/15/2020 | 22.2 | 65.8 | 12 |
| 2/15/2020 | 27.6 | 54.1 | 18.3 |
| 3/15/2020 | 24.1 | 53.4 | 22.5 |
| 4/15/2020 | 27 | 49.2 | 23.8 |
| 5/15/2020 | 16.2 | 61.5 | 22.3 |
| 6/15/2020 | 18 | 60 | 22 |
| 7/15/2020 | 29 | 49.1 | 21.9 |
| 8/15/2020 | 21.3 | 44 | 34.7 |
| 9/15/2020 | 20 | 51.2 | 28.8 |
| 10/15/2020 | 16.1 | 59.5 | 24.4 |
| 11/15/2020 | 16.1 | 57.5 | 26.4 |
| 12/15/2020 | 16.3 | 50.4 | 33.3 |
| 1/15/2021 | 19 | 49.8 | 31.2 |
| 2/15/2021 | 19.9 | 43.3 | 36.8 |
| 3/15/2021 | 22.4 | 45.1 | 32.5 |
| 4/15/2021 | 24.1 | 52.3 | 23.6 |
| 5/15/2021 | 30.8 | 48.8 | 20.4 |
| 6/15/2021 | 35.6 | 44 | 20.4 |
| 7/15/2021 | 25.6 | 52.4 | 22 |
| 8/15/2021 | 35.8 | 48.5 | 15.7 |
| 9/15/2021 | 36 | 52.3 | 11.7 |
| 10/15/2021 | 45.8 | 38 | 16.2 |
| 11/15/2021 | 59.6 | 34 | 6.4 |
| 12/15/2021 | 64 | 31.2 | 4.8 |
| 1/15/2022 | 69 | 25.9 | 5.1 |
| 2/15/2022 | 71.9 | 24.9 | 3.2 |
| 3/15/2022 | 72.1 | 25.5 | 2.4 |
| 4/15/2022 | 75.7 | 21.3 | 3 |
| 5/15/2022 | 75.7 | 21.3 | 3 |
| 6/15/2022 | 84.7 | 11.7 | 3.6 |
| 7/15/2022 | 92.3 | 3.8 | 3.9 |
| 8/15/2022 | 87.7 | 9 | 3.3 |
| 9/15/2022 | 83.6 | 12.1 | 4.3 |
| 10/15/2022 | 90.1 | 4.6 | 5.3 |
| 11/15/2022 | 87.8 | 5.7 | 6.5 |
| 12/15/2022 | 86 | 7.5 | 6.5 |
| 1/15/2023 | 86.5 | 9.4 | 4.1 |
| 2/15/2023 | 87.2 | 7.9 | 4.9 |
| 3/15/2023 | 86.6 | 6.6 | 6.8 |
| 4/15/2023 | 86.7 | 9.8 | 3.5 |
| 5/15/2023 | 91.8 | 4 | 4.2 |
| 6/15/2023 | 92 | 3.8 | 4.2 |
| 7/15/2023 | 85.2 | 10.8 | 4 |
| 8/15/2023 | 84.2 | 9.6 | 6.2 |
| 9/15/2023 | 83.5 | 8.5 | 8 |
| 10/15/2023 | 79.2 | 9.2 | 11.6 |
| 11/15/2023 | 73.5 | 12.2 | 14.3 |
| 12/15/2023 | 75.8 | 9.7 | 14.5 |
| 1/15/2024 | 76.11389239 | 7.256409274 | 16.62969834 |
| 2/15/2024 | 74.45075343 | 7.408427406 | 18.14081916 |
| 3/15/2024 | 73.21395554 | 6.762968503 | 20.02307596 |
| 4/15/2024 | 63.03405284 | 18.54040848 | 18.42553868 |
| 5/15/2024 | 58.56594044 | 22.6455615 | 18.78849806 |
| 6/15/2024 | 52.08440146 | 29.75133942 | 18.16425912 |
| 7/15/2024 | 55.44721574 | 25.78970616 | 18.7630781 |
| 8/15/2024 | 53.11249971 | 24.06670909 | 22.8207912 |
| 9/15/2024 | 50.2917045 | 26.74393454 | 22.96436096 |
| 10/15/2024 | 56.75069352 | 21.39315363 | 21.85615284 |
| 11/15/2024 | 55.00447649 | 24.73717795 | 20.25834556 |
| 12/15/2024 | 52.59993058 | 28.72666116 | 18.67340826 |
| 1/15/2025 | 53.51417438 | 31.51950957 | 14.96631605 |
| 2/15/2025 | 56.28341372 | 23.52965647 | 20.18692981 |
| 3/15/2025 | 57.11122289 | 26.19376381 | 16.6950133 |
| 4/15/2025 | 63.98158602 | 17.77096223 | 18.24745175 |
| 5/15/2025 | 63.63131637 | 19.15883084 | 17.20985279 |
| 6/15/2025 | 67.5986324 | 20.4999695 | 11.9013981 |
| 7/15/2025 | 64.08511591 | 26.70540329 | 9.209480791 |
| 8/15/2025 | 68.21612178 | 21.92243808 | 9.861440139 |
| 9/15/2025 | 65.16505483 | 23.34095666 | 11.49398851 |
| 10/15/2025 | 61.73636826 | 30.87438913 | 7.389242611 |
| 11/15/2025 | 55.92379408 | 24.9019251 | 19.17428083 |
| 12/15/2025 | 57.48561251 | 27.71885228 | 14.7955352 |
| 1/15/2026 | 55.44513782 | 29.89899804 | 14.65586414 |
Bottom Right
Euro area
Weighted share of CPI basket (12-month growth)
| Period | DI, >3% | DI, 0 - 3 % | DI, <0% |
|---|---|---|---|
| 1/15/2014 | 8.895049904 | 67.60056457 | 23.50438552 |
| 2/15/2014 | 5.790906341 | 74.2554693 | 19.95362436 |
| 3/15/2014 | 6.159895151 | 68.28006856 | 25.56003629 |
| 4/15/2014 | 11.43462043 | 63.13942938 | 25.4259502 |
| 5/15/2014 | 6.490573647 | 61.01824781 | 32.49117855 |
| 6/15/2014 | 4.473233189 | 65.06502672 | 30.46174009 |
| 7/15/2014 | 1.753200928 | 67.85966327 | 30.3871358 |
| 8/15/2014 | 2.26534933 | 69.43139429 | 28.30325638 |
| 9/15/2014 | 1.762274423 | 66.59743926 | 31.64028632 |
| 10/15/2014 | 2.147393891 | 63.11019256 | 34.74241355 |
| 11/15/2014 | 2.181671539 | 67.70743018 | 30.11089828 |
| 12/15/2014 | 2.504284706 | 66.83335014 | 30.66236516 |
| 1/15/2015 | 2.454602882 | 57.72227291 | 39.8231242 |
| 2/15/2015 | 1.891087024 | 63.94601478 | 34.1628982 |
| 3/15/2015 | 1.94021919 | 63.11277336 | 34.94700745 |
| 4/15/2015 | 7.557329216 | 60.686246 | 31.75642478 |
| 5/15/2015 | 8.888911171 | 60.87876387 | 30.23232495 |
| 6/15/2015 | 8.090764156 | 60.38142604 | 31.52780981 |
| 7/15/2015 | 9.445408148 | 63.56298443 | 26.99160742 |
| 8/15/2015 | 9.956783748 | 59.59731678 | 30.44589947 |
| 9/15/2015 | 8.690377114 | 61.06326017 | 30.24636272 |
| 10/15/2015 | 10.69176084 | 64.87852323 | 24.42971594 |
| 11/15/2015 | 4.839016956 | 68.4320823 | 26.72890074 |
| 12/15/2015 | 4.40986253 | 65.09610853 | 30.49402894 |
| 1/15/2016 | 4.217556104 | 71.53099493 | 24.25144897 |
| 2/15/2016 | 4.710907888 | 66.66165293 | 28.62743918 |
| 3/15/2016 | 4.984657963 | 70.15823356 | 24.85710848 |
| 4/15/2016 | 2.565028177 | 68.54982652 | 28.8851453 |
| 5/15/2016 | 4.029039568 | 66.24350721 | 29.72745322 |
| 6/15/2016 | 2.337404488 | 72.88169585 | 24.78089967 |
| 7/15/2016 | 4.915468383 | 71.33445641 | 23.75007521 |
| 8/15/2016 | 5.117020637 | 64.73537493 | 30.14760444 |
| 9/15/2016 | 3.469506448 | 65.81433127 | 30.71616228 |
| 10/15/2016 | 3.129575036 | 76.08447145 | 20.78595351 |
| 11/15/2016 | 2.625193029 | 77.42013116 | 19.95467581 |
| 12/15/2016 | 9.216252532 | 75.45073501 | 15.33301245 |
| 1/15/2017 | 13.61818164 | 70.15709431 | 16.22472406 |
| 2/15/2017 | 11.34948721 | 67.98063138 | 20.6698814 |
| 3/15/2017 | 12.16052291 | 70.12902385 | 17.71045324 |
| 4/15/2017 | 18.3901593 | 64.31041915 | 17.29942155 |
| 5/15/2017 | 10.01112793 | 74.62831708 | 15.36055499 |
| 6/15/2017 | 8.944450571 | 75.99775436 | 15.05779507 |
| 7/15/2017 | 11.6622723 | 73.54960952 | 14.78811818 |
| 8/15/2017 | 16.00918305 | 66.89189867 | 17.09891828 |
| 9/15/2017 | 16.73199731 | 69.69994687 | 13.56805582 |
| 10/15/2017 | 17.33049955 | 64.54200042 | 18.12750003 |
| 11/15/2017 | 17.21420766 | 65.45529278 | 17.33049955 |
| 12/15/2017 | 12.56854705 | 72.67341026 | 14.75804269 |
| 1/15/2018 | 11.12458898 | 73.62759644 | 15.24781458 |
| 2/15/2018 | 9.329136258 | 81.38583688 | 9.285026867 |
| 3/15/2018 | 13.14359612 | 73.75691715 | 13.09948673 |
| 4/15/2018 | 13.83130163 | 69.09936643 | 17.06933194 |
| 5/15/2018 | 15.26986928 | 74.94887321 | 9.781257519 |
| 6/15/2018 | 14.1520972 | 76.06764777 | 9.780255032 |
| 7/15/2018 | 21.08027909 | 70.32239955 | 8.597321357 |
| 8/15/2018 | 20.90283904 | 64.18618173 | 14.91097923 |
| 9/15/2018 | 19.81714652 | 64.24332344 | 15.93953003 |
| 10/15/2018 | 18.12194242 | 73.79400914 | 8.08404844 |
| 11/15/2018 | 16.89790681 | 71.96747935 | 11.13461384 |
| 12/15/2018 | 15.20069773 | 74.83458978 | 9.964712487 |
| 1/15/2019 | 11.59317141 | 74.64238099 | 13.76444761 |
| 2/15/2019 | 11.72248564 | 78.15190914 | 10.12560522 |
| 3/15/2019 | 15.99887727 | 65.24855399 | 18.75256874 |
| 4/15/2019 | 20.3644857 | 69.44675562 | 10.18875868 |
| 5/15/2019 | 13.15697144 | 75.37315677 | 11.46987179 |
| 6/15/2019 | 12.67981194 | 73.95170264 | 13.36848542 |
| 7/15/2019 | 5.978527823 | 77.77298836 | 16.24848382 |
| 8/15/2019 | 6.962919895 | 76.96302014 | 16.07405997 |
| 9/15/2019 | 4.44881061 | 77.61560592 | 17.93558347 |
| 10/15/2019 | 7.430055034 | 76.77055244 | 15.79939252 |
| 11/15/2019 | 10.8814419 | 72.10521567 | 17.01334242 |
| 12/15/2019 | 11.58815923 | 78.12584581 | 10.28599497 |
| 1/15/2020 | 14.9309384 | 67.39570595 | 17.67335565 |
| 2/15/2020 | 9.852053806 | 76.33261833 | 13.81532787 |
| 3/15/2020 | 9.398993645 | 73.15518313 | 17.44582323 |
| 4/15/2020 | 11.62821001 | 62.7408135 | 25.63097648 |
| 5/15/2020 | 11.43976906 | 65.74083355 | 22.81939739 |
| 6/15/2020 | 10.15676683 | 64.45482429 | 25.38840888 |
| 7/15/2020 | 15.70174208 | 56.542309 | 27.75594892 |
| 8/15/2020 | 10.06254636 | 55.58105968 | 34.35639396 |
| 9/15/2020 | 6.773850811 | 56.92921436 | 36.29693483 |
| 10/15/2020 | 8.508910851 | 55.05382595 | 36.4372632 |
| 11/15/2020 | 8.508910851 | 53.34081751 | 38.15027164 |
| 12/15/2020 | 7.008399655 | 56.39396187 | 36.59763847 |
| 1/15/2021 | 15.64843405 | 64.81934475 | 19.5322212 |
| 2/15/2021 | 10.02225609 | 68.36528051 | 21.61246341 |
| 3/15/2021 | 17.07803665 | 60.65685528 | 22.26510807 |
| 4/15/2021 | 18.74724305 | 57.91995829 | 23.33279865 |
| 5/15/2021 | 18.04747965 | 63.82483859 | 18.12768176 |
| 6/15/2021 | 17.48506236 | 65.72763364 | 16.78730401 |
| 7/15/2021 | 18.83446285 | 67.19132213 | 13.97421502 |
| 8/15/2021 | 31.29486305 | 62.77920359 | 5.925933352 |
| 9/15/2021 | 28.12988732 | 67.68556763 | 4.184545054 |
| 10/15/2021 | 29.27978506 | 67.10109476 | 3.619120183 |
| 11/15/2021 | 28.05269279 | 69.54224646 | 2.405060753 |
| 12/15/2021 | 39.21181377 | 58.11444841 | 2.673737819 |
| 1/15/2022 | 49.87217404 | 42.50338363 | 7.624442328 |
| 2/15/2022 | 55.8865106 | 40.54539075 | 3.568098652 |
| 3/15/2022 | 57.43947065 | 38.76785804 | 3.792671312 |
| 4/15/2022 | 62.53145521 | 34.11198556 | 3.356559226 |
| 5/15/2022 | 65.8819991 | 30.99002456 | 3.12797634 |
| 6/15/2022 | 64.74008722 | 29.60549401 | 5.654418768 |
| 7/15/2022 | 65.44688957 | 25.39976941 | 9.15334102 |
| 8/15/2022 | 65.87999398 | 28.80946413 | 5.310541882 |
| 9/15/2022 | 70.59702241 | 24.51150434 | 4.891473257 |
| 10/15/2022 | 70.73337009 | 25.32056745 | 3.946062459 |
| 11/15/2022 | 71.60559427 | 24.99774425 | 3.396661487 |
| 12/15/2022 | 74.66038398 | 21.94295453 | 3.396661487 |
| 1/15/2023 | 82.52905141 | 15.16488364 | 2.306064951 |
| 2/15/2023 | 84.29469505 | 13.62884386 | 2.076461093 |
| 3/15/2023 | 80.69322318 | 12.03665641 | 7.270120417 |
| 4/15/2023 | 81.49433009 | 11.72784423 | 6.777825682 |
| 5/15/2023 | 81.35195564 | 11.2545996 | 7.39344476 |
| 6/15/2023 | 78.3620923 | 15.09469906 | 6.543208639 |
| 7/15/2023 | 76.04900889 | 11.7649418 | 12.18604931 |
| 8/15/2023 | 74.66536992 | 16.58662282 | 8.748007259 |
| 9/15/2023 | 73.03809018 | 17.78677923 | 9.175130593 |
| 10/15/2023 | 68.49113168 | 18.19986565 | 13.30900268 |
| 11/15/2023 | 62.96860744 | 21.9637647 | 15.06762786 |
| 12/15/2023 | 58.43267794 | 32.08839247 | 9.478929585 |
| 1/15/2024 | 54.99879692 | 30.63342156 | 14.36778152 |
| 2/15/2024 | 47.25397016 | 36.1355069 | 16.61052294 |
| 3/15/2024 | 41.48119185 | 44.20616779 | 14.31264036 |
| 4/15/2024 | 38.5737488 | 45.91454123 | 15.51170998 |
| 5/15/2024 | 44.48287616 | 38.56372313 | 16.95340071 |
| 6/15/2024 | 38.1717196 | 45.81729227 | 16.01098813 |
| 7/15/2024 | 43.84023099 | 43.54146615 | 12.61830286 |
| 8/15/2024 | 41.08417549 | 40.655077 | 18.26074751 |
| 9/15/2024 | 38.82739814 | 41.64561277 | 19.52698909 |
| 10/15/2024 | 42.66522297 | 43.0572265 | 14.27755053 |
| 11/15/2024 | 44.1399984 | 41.38394289 | 14.47605871 |
| 12/15/2024 | 44.63326115 | 40.47561758 | 14.89112127 |
| 1/15/2025 | 39.26534131 | 46.6951387 | 14.03951999 |
| 2/15/2025 | 37.68935407 | 45.6765617 | 16.63408423 |
| 3/15/2025 | 40.98569381 | 47.34979498 | 11.66451121 |
| 4/15/2025 | 42.46543756 | 46.10063461 | 11.43392784 |
| 5/15/2025 | 38.99465648 | 46.7582985 | 14.24704502 |
| 6/15/2025 | 39.80470591 | 41.31653082 | 18.87876327 |
| 7/15/2025 | 39.62424935 | 44.29506652 | 16.08068413 |
| 8/15/2025 | 38.6207104 | 44.6910684 | 16.6882212 |
| 9/15/2025 | 42.17770961 | 43.6614635 | 14.16082689 |
| 10/15/2025 | 41.09096013 | 42.57371149 | 16.33532838 |
| 11/15/2025 | 47.29966816 | 38.27984802 | 14.42048382 |
| 12/15/2025 | 45.57029284 | 34.46920709 | 19.96050007 |
| 1/15/2026 | 35.20584609 | 45.55077737 | 19.24337654 |
Note: Indices constructed from 166 series for the U.S., 158 series for Canada, 85 series for the U.K., and 129 series for the euro area. Data extend through January 2026 for all countries. For October 2025, the U.S. series were estimated through linear interpolation.
Source: Haver Analytics; Federal Reserve Board staff calculations.
Return to text
Figure 3: Diffusion Indexes for 12-month Headline Inflation, Selected Advanced Economies
Left
Above 3 Percent
Weighted share of CPI Basket
| Country | U.S. | Canada | Euro area | U.K. |
|---|---|---|---|---|
| 2014 to 2019 average | 42.22336126 | 26.92610536 | 9.356943641 | 25.52083333 |
| Current Average | 59.97560287 | 48.34182807 | 41.66086454 | 60.66201488 |
Middle
0 to 3 Percent
Weighted share of CPI Basket
| Country | U.S. | Canada | Euro area | U.K. |
|---|---|---|---|---|
| 2014 to 2019 average | 37.67065348 | 53.77630323 | 69.41026065 | 49.94027778 |
| Current Average | 26.29866866 | 30.02888209 | 41.53767931 | 26.44292655 |
Right
Below 0 Percent
Weighted share of CPI Basket
| Country | U.S. | Canada | Euro area | U.K. |
|---|---|---|---|---|
| 2014 to 2019 average | 20.10598526 | 19.29759141 | 20.98648955 | 24.53888889 |
| Current Average | 12.0177322 | 21.62928984 | 16.63071132 | 12.89505857 |
Note: Current average extends from August 2025 to January 2026 for all countries. Missing U.S. CPI data for October 2025 were estimated through linear interpolation.
Source: Haver Analytics; Federal Reserve Board staff calculations.
Return to text
Figure 4: Residuals from Pre-Pandemic Core Inflation Trend
Left
Below 0 percent
Percentage points
| Date | U.S. | Canada | U.K. | Euro area |
|---|---|---|---|---|
| 1/1/2014 | -0.585373569 | -0.581200323 | -0.406909443 | -0.098961712 |
| 2/1/2014 | -0.385221278 | -0.466658098 | -0.096478851 | -0.328037975 |
| 3/1/2014 | -0.250238311 | -0.322953691 | -0.670832518 | -0.361452437 |
| 4/1/2014 | -0.286802565 | -0.316222409 | -0.242406323 | -0.210281273 |
| 5/1/2014 | -0.225472812 | -0.351876624 | 0.056020917 | 0.026923587 |
| 6/1/2014 | -0.15606516 | -0.242767427 | -0.35772324 | -0.035097573 |
| 7/1/2014 | -0.326760389 | -0.35584343 | -0.132457013 | -0.020646768 |
| 8/1/2014 | -0.280846612 | 0.056029121 | -0.28722443 | -0.287383649 |
| 9/1/2014 | -0.170513239 | 0.09560258 | -0.609746772 | -0.420693063 |
| 10/1/2014 | -0.102196328 | 0.18194885 | 0.010855093 | -0.0552685 |
| 11/1/2014 | -0.240402998 | 0.024929513 | -0.074052136 | -0.299464946 |
| 12/1/2014 | -0.365799235 | -0.006892333 | -0.15343354 | -0.388895289 |
| 1/1/2015 | -0.311255213 | -0.081688305 | -0.530231676 | 0.09838285 |
| 2/1/2015 | -0.283294601 | 0.142352615 | -0.516062433 | -0.036894987 |
| 3/1/2015 | -0.206850523 | 0.113121602 | -0.173274742 | 0.083657679 |
| 4/1/2015 | -0.149459322 | -0.073957925 | -0.288146656 | 0.066211161 |
| 5/1/2015 | -0.136625903 | -0.105437106 | -0.711270617 | 0.330350384 |
| 6/1/2015 | -0.004715124 | -0.065598321 | -0.534782578 | 0.320775557 |
| 7/1/2015 | 0.014871657 | 0.00152364 | -0.592121578 | 0.260846754 |
| 8/1/2015 | 0.059878969 | -0.259717595 | -0.673065966 | 0.503217313 |
| 9/1/2015 | 0.09005347 | -0.126188147 | -0.318946825 | 0.393874483 |
| 10/1/2015 | 0.120791145 | -0.302138116 | -0.753263776 | 0.024842219 |
| 11/1/2015 | 0.179498497 | -0.141476891 | -0.609023075 | -0.310967558 |
| 12/1/2015 | 0.127547608 | -0.070089311 | -0.003915854 | 0.025216053 |
| 1/1/2016 | 0.262346593 | 0.165162221 | -0.963129052 | -0.251373309 |
| 2/1/2016 | 0.368754205 | 0.032043912 | -0.921033619 | -0.253772592 |
| 3/1/2016 | 0.315993555 | 0.075191623 | -0.72807806 | -0.246974492 |
| 4/1/2016 | 0.260917042 | 0.183787224 | -0.891361979 | -0.507084312 |
| 5/1/2016 | 0.501765752 | 0.067776512 | -0.438750342 | -0.356361044 |
| 6/1/2016 | 0.493997232 | 0.189289397 | 0.067555075 | -0.477454985 |
| 7/1/2016 | 0.459146858 | 0.229430043 | 0.505207383 | -0.488578193 |
| 8/1/2016 | 0.475641594 | 0.13919063 | 0.061542706 | 0.003583392 |
| 9/1/2016 | 0.3985789 | 0.129589874 | -0.286570576 | -0.027919562 |
| 10/1/2016 | 0.274982872 | 0.061310491 | 0.213555965 | -0.441310497 |
| 11/1/2016 | 0.142659164 | -0.019597984 | -0.324141445 | -0.439611524 |
| 12/1/2016 | 0.19803775 | -0.01865678 | -0.411537028 | -0.588227176 |
| 1/1/2017 | 0.271477547 | 0.302100784 | -0.114033518 | -0.468322426 |
| 2/1/2017 | 0.276560265 | 0.239102452 | 0.155344208 | 0.008568072 |
| 3/1/2017 | 0.031629059 | -0.037215129 | -0.261600101 | -0.331535476 |
| 4/1/2017 | -0.093016425 | -0.381111694 | 0.160562711 | 0.050869487 |
| 5/1/2017 | -0.298493909 | -0.509628693 | 0.080617044 | -0.140341886 |
| 6/1/2017 | -0.180913906 | -0.220458242 | 0.125928216 | 0.00150542 |
| 7/1/2017 | -0.174122878 | -0.397900248 | 0.244337636 | -0.056723497 |
| 8/1/2017 | -0.221799804 | -0.327312307 | 0.232655191 | 0.0652049 |
| 9/1/2017 | -0.213368364 | -0.617922156 | 0.050875253 | -0.110444969 |
| 10/1/2017 | -0.140787347 | -0.449781262 | -0.065095514 | 0.018802697 |
| 11/1/2017 | -0.163470832 | -0.207516309 | 0.002806484 | 0.012283137 |
| 12/1/2017 | -0.03109665 | -0.235252973 | -0.164071727 | -0.270941332 |
| 1/1/2018 | -0.04189324 | -0.322920833 | 0.019941269 | -0.110914449 |
| 2/1/2018 | 0.018816467 | -0.1455557 | 0.118254271 | -0.555162346 |
| 3/1/2018 | 0.132719004 | -0.017592497 | -0.242193175 | -0.138696969 |
| 4/1/2018 | 0.150818145 | -0.129927605 | -0.563838112 | -0.361166523 |
| 5/1/2018 | 0.312913406 | -0.335581329 | -0.34981159 | -0.232430907 |
| 6/1/2018 | 0.305037584 | -0.19048256 | -0.550328134 | -0.500602721 |
| 7/1/2018 | 0.192367814 | 0.361557622 | -0.128765142 | -0.358414268 |
| 8/1/2018 | 0.036343133 | 0.342306365 | -0.213851884 | 0.020911018 |
| 9/1/2018 | 0.070436604 | -0.126232725 | -0.243305807 | -0.095287109 |
| 10/1/2018 | -0.035432531 | 0.127583843 | -0.14452984 | -0.400948959 |
| 11/1/2018 | 0.051470463 | -0.13577183 | -0.676529782 | -0.511246991 |
| 12/1/2018 | 0.22184508 | 0.368352183 | -0.183302709 | -0.608699407 |
| 1/1/2019 | 0.057862443 | -0.017068151 | -0.427904358 | -0.444653745 |
| 2/1/2019 | 0.10569801 | 0.189294696 | -0.433026646 | -0.505498091 |
| 3/1/2019 | 0.012978017 | -0.087885218 | -0.436654767 | -0.096605945 |
| 4/1/2019 | -0.148389526 | 0.128729529 | 0.130399263 | -0.23476176 |
| 5/1/2019 | 0.021600588 | 0.353611038 | -0.337996623 | -0.64153797 |
| 6/1/2019 | 0.097756961 | 0.495586907 | -0.623656293 | -0.487452109 |
| 7/1/2019 | 0.156940253 | 0.362728948 | -0.628381328 | -0.676001272 |
| 8/1/2019 | 0.342636406 | 0.308993195 | -0.984122814 | -0.66553048 |
| 9/1/2019 | 0.258663332 | 0.388723104 | -0.502597601 | -0.453511007 |
| 10/1/2019 | 0.196014893 | 0.374934046 | -0.710591889 | -0.464820591 |
| 11/1/2019 | 0.346923022 | 0.084919138 | -0.858191487 | -0.148572858 |
| 12/1/2019 | 0.183727667 | 0.062174357 | -0.511444348 | -0.339262422 |
| 1/1/2020 | 0.190082871 | -0.046126318 | -0.813789872 | -0.240073785 |
| 2/1/2020 | 0.192259438 | -0.00872011 | -0.599764488 | -0.474200099 |
| 3/1/2020 | 0.088276476 | -0.192445851 | -0.340984067 | -0.573330679 |
| 4/1/2020 | -0.479085724 | -0.454701199 | -0.629793903 | -0.115612806 |
| 5/1/2020 | -0.569132627 | -1.110322268 | -0.835744691 | -0.272028248 |
| 6/1/2020 | -0.722781667 | -0.759179313 | -0.645789084 | -0.146912916 |
| 7/1/2020 | -0.389377647 | -1.292688544 | -0.267588027 | 0.136628435 |
| 8/1/2020 | -0.287111169 | -1.294580648 | -0.441347924 | -0.099383665 |
| 9/1/2020 | -0.460428575 | -0.938573968 | -0.521064531 | -0.177888879 |
| 10/1/2020 | -0.529904611 | -0.851971482 | -0.618139036 | -0.033519254 |
| 11/1/2020 | -0.45318264 | -0.363775348 | -1.003266483 | 0.12343096 |
| 12/1/2020 | -0.502842299 | -0.61915202 | -0.36711698 | 0.036336044 |
| 1/1/2021 | -0.674805093 | -0.286304208 | -0.422818769 | 0.226086264 |
| 2/1/2021 | -0.849415994 | -0.915457204 | -0.654449928 | 0.120211181 |
| 3/1/2021 | -0.494318452 | -0.807883864 | -0.614222566 | 0.302675215 |
| 4/1/2021 | 0.700792884 | 0.046686149 | -0.57348414 | -0.037609595 |
| 5/1/2021 | 1.512784432 | 0.642571844 | -0.608590188 | -0.186753048 |
| 6/1/2021 | 2.178520919 | 0.414971832 | -0.087220372 | -0.310973051 |
| 7/1/2021 | 1.860596907 | 0.913870264 | -0.570138134 | -0.309383205 |
| 8/1/2021 | 1.632559929 | 1.226137449 | 0.792675189 | -0.10919755 |
| 9/1/2021 | 1.607744916 | 1.433512956 | 0.281683621 | 0.074391862 |
| 10/1/2021 | 2.125849805 | 1.436547991 | 1.36489815 | 0.080041741 |
| 11/1/2021 | 2.495394259 | 1.290407691 | 1.238366868 | 0.662927285 |
| 12/1/2021 | 2.974719227 | 1.509618914 | 1.399760219 | 0.709592599 |
| 1/1/2022 | 3.498917606 | 1.656959557 | 1.541599133 | 0.750275765 |
| 2/1/2022 | 3.884544267 | 2.017066489 | 2.134965978 | 0.877109365 |
| 3/1/2022 | 3.93581473 | 2.815084904 | 2.661508778 | 1.123595845 |
| 4/1/2022 | 3.637789192 | 2.848344857 | 3.150238345 | 1.625279346 |
| 5/1/2022 | 3.503857256 | 3.214384022 | 2.925827871 | 1.875303027 |
| 6/1/2022 | 3.436031349 | 3.341020012 | 2.787393018 | 2.057833793 |
| 7/1/2022 | 3.428253301 | 3.415074572 | 3.238990973 | 2.6205698 |
| 8/1/2022 | 3.842003971 | 3.172578443 | 3.232954915 | 2.598883961 |
| 9/1/2022 | 4.201125636 | 3.339410952 | 3.561627987 | 3.010575394 |
| 10/1/2022 | 3.827907099 | 3.269563792 | 3.601129803 | 3.204932807 |
| 11/1/2022 | 3.543493548 | 3.294983594 | 3.587449299 | 3.124843168 |
| 12/1/2022 | 3.364341509 | 3.202520154 | 3.64160577 | 3.32039818 |
| 1/1/2023 | 3.15827885 | 2.950089729 | 2.850708056 | 3.343069644 |
| 2/1/2023 | 3.262461815 | 2.782043141 | 3.308965606 | 3.637891516 |
| 3/1/2023 | 3.34783691 | 2.628145868 | 3.230342369 | 3.72832241 |
| 4/1/2023 | 3.337454681 | 2.498021291 | 3.587780369 | 3.619262298 |
| 5/1/2023 | 3.210700264 | 2.232914438 | 3.952925596 | 3.420298603 |
| 6/1/2023 | 2.689049812 | 1.875859898 | 3.668929029 | 3.484581242 |
| 7/1/2023 | 2.551695119 | 1.837611297 | 3.628638317 | 3.551583329 |
| 8/1/2023 | 2.232334892 | 1.979404199 | 3.18039006 | 3.393271493 |
| 9/1/2023 | 1.994893382 | 1.425039604 | 3.215738616 | 2.629782355 |
| 10/1/2023 | 1.97175997 | 1.691488802 | 2.741936067 | 2.286861201 |
| 11/1/2023 | 2.027648774 | 1.804574725 | 2.378449539 | 1.807453904 |
| 12/1/2023 | 1.944258501 | 1.636291459 | 2.366349026 | 1.580636081 |
| 1/1/2024 | 1.816685031 | 1.409194359 | 2.576980444 | 1.490506393 |
| 2/1/2024 | 1.774275691 | 1.161351209 | 2.111297722 | 1.345724525 |
| 3/1/2024 | 1.849046857 | 1.299358922 | 1.877393029 | 1.214469977 |
| 4/1/2024 | 1.651471334 | 1.103846052 | 1.377872428 | 1.015538042 |
| 5/1/2024 | 1.462935611 | 1.229504828 | 1.320024481 | 1.495787441 |
| 6/1/2024 | 1.316592823 | 1.520556753 | 1.341229891 | 1.422815809 |
| 7/1/2024 | 1.324674266 | 1.476079354 | 1.102131642 | 1.40767763 |
| 8/1/2024 | 1.209466037 | 1.121585713 | 1.316728334 | 1.337690345 |
| 9/1/2024 | 1.353393571 | 1.064584863 | 1.028680902 | 1.273241047 |
| 10/1/2024 | 1.428775337 | 1.011215094 | 1.003703448 | 1.279753489 |
| 11/1/2024 | 1.358072927 | 0.694328577 | 1.281004396 | 1.321659901 |
| 12/1/2024 | 1.286463316 | 0.854685541 | 0.648284622 | 1.352205237 |
| 1/1/2025 | 1.229978005 | 0.473166764 | 1.171132897 | 1.483827737 |
| 2/1/2025 | 1.142778901 | 1.223449994 | 1.341274553 | 1.318751929 |
| 3/1/2025 | 0.818858563 | 0.52763385 | 0.990191087 | 0.804945966 |
| 4/1/2025 | 0.639216958 | 0.733998618 | 1.81610988 | 1.052915061 |
| 5/1/2025 | 0.673009736 | 0.830245121 | 1.43685211 | 0.853968733 |
| 6/1/2025 | 0.812618628 | 0.780395068 | 1.111169551 | 0.873687773 |
| 7/1/2025 | 0.843090037 | 0.74182906 | 0.961828324 | 0.672143952 |
| 8/1/2025 | 0.918918726 | 0.674716412 | 0.877531315 | 0.683852602 |
| 9/1/2025 | 0.743143908 | 0.659712036 | 0.903145758 | 0.72788367 |
| 10/1/2025 | 0.558114807 | 0.996297066 | 0.736956923 | 0.652654107 |
| 11/1/2025 | 0.361570083 | 0.701532805 | 1.463409808 | 0.842098585 |
| 12/1/2025 | 0.435787354 | 0.807762423 | 1.175143637 | 0.863753494 |
| 1/1/2026 | 0.390405616 | 0.669521576 | 0.624165817 | 0.743241079 |
Right
Above 3 percent
Percentage points
| Date | U.S. | Canada | U.K. | Euro area |
|---|---|---|---|---|
| 1/1/2014 | 0.182960142 | -0.27580626 | 0.496451839 | -0.120826034 |
| 2/1/2014 | 0.111179366 | -0.405021344 | 0.650761681 | 0.079646265 |
| 3/1/2014 | 0.167887169 | -0.341205025 | 0.477494758 | -0.119478906 |
| 4/1/2014 | 0.238104318 | -0.182927561 | 0.836516041 | 0.007317458 |
| 5/1/2014 | 0.250138255 | 0.007589055 | 0.497702168 | -0.190869467 |
| 6/1/2014 | 0.229249233 | 0.053964439 | 0.829458143 | -0.107122208 |
| 7/1/2014 | 0.172542611 | 0.066193956 | 0.58528414 | -0.068827772 |
| 8/1/2014 | 0.062989333 | 0.415179233 | 0.634891196 | 0.09533681 |
| 9/1/2014 | 0.127602905 | 0.292354099 | 0.287128289 | -0.088858289 |
| 10/1/2014 | 0.121471009 | 0.463655456 | 0.340312504 | -0.162816468 |
| 11/1/2014 | 0.017812303 | 0.409541212 | 0.030441047 | -0.214237819 |
| 12/1/2014 | -0.1922516 | 0.385766155 | -0.031165997 | -0.131073122 |
| 1/1/2015 | -0.08859101 | 0.354606089 | 0.218265342 | -0.249003587 |
| 2/1/2015 | -0.050145653 | 0.192090393 | -0.00422328 | -0.14189155 |
| 3/1/2015 | 0.082882479 | 0.447547583 | -0.098433959 | -0.20425128 |
| 4/1/2015 | 0.08241276 | 0.332376026 | -0.420091578 | -0.026761279 |
| 5/1/2015 | 0.067612373 | 0.28231876 | -0.224701073 | 0.321398035 |
| 6/1/2015 | 0.105253532 | 0.267395149 | -0.521819709 | 0.28342262 |
| 7/1/2015 | 0.169478379 | 0.410107266 | -0.102959814 | 0.348724107 |
| 8/1/2015 | -0.373663323 | 0.202630932 | -0.173050415 | 0.364041843 |
| 9/1/2015 | -0.338363847 | 0.338557749 | -0.160132629 | 0.361629449 |
| 10/1/2015 | -0.222834466 | 0.161828565 | -0.081254456 | 0.384278114 |
| 11/1/2015 | -0.153987147 | 0.246918415 | -0.089574945 | 0.048853044 |
| 12/1/2015 | -0.034867771 | 0.07696297 | 0.186516169 | 0.08462832 |
| 1/1/2016 | 0.059224205 | 0.115762917 | 0.059748787 | 0.156987453 |
| 2/1/2016 | 0.058544639 | 0.049969266 | -0.025263232 | -0.002622155 |
| 3/1/2016 | -0.012978781 | 0.129214236 | 0.341807277 | 0.089852877 |
| 4/1/2016 | -0.061497742 | 0.290979862 | -0.041175751 | -0.110405861 |
| 5/1/2016 | 0.009945074 | 0.480591865 | -0.054489682 | -0.027657424 |
| 6/1/2016 | 0.04557432 | 0.473490427 | 0.006680699 | -0.025584189 |
| 7/1/2016 | 0.014188504 | 0.390842924 | -0.079789027 | 0.058786649 |
| 8/1/2016 | 0.138079709 | 0.218281276 | -0.046813615 | -0.029250972 |
| 9/1/2016 | 0.02303601 | 0.327267649 | 0.091124977 | -0.032988638 |
| 10/1/2016 | -0.070122907 | 0.243917492 | -0.186705862 | -0.110305764 |
| 11/1/2016 | -0.105948627 | 0.070386122 | 0.129125091 | -0.026004553 |
| 12/1/2016 | -0.107000122 | 0.312241949 | 0.28757641 | -0.003746714 |
| 1/1/2017 | -0.046355599 | 0.448611585 | 0.256634143 | -0.014575913 |
| 2/1/2017 | -0.101470954 | 0.218244875 | 0.583026122 | -0.082104433 |
| 3/1/2017 | -0.315936341 | 0.101426015 | 0.444140475 | -0.23892838 |
| 4/1/2017 | -0.375544835 | -0.07110428 | 0.921299848 | 0.154167727 |
| 5/1/2017 | -0.491760223 | -0.154728608 | 0.927965091 | -0.051368784 |
| 6/1/2017 | -0.40676186 | -0.169521517 | 0.837818686 | 0.132857339 |
| 7/1/2017 | -0.499244079 | -0.039435269 | 0.791125641 | 0.139491887 |
| 8/1/2017 | -0.476616352 | -0.110717786 | 1.002816073 | 0.158540124 |
| 9/1/2017 | -0.471269164 | -0.302158262 | 0.801195031 | 0.036378574 |
| 10/1/2017 | -0.451786235 | -0.130178145 | 0.686554402 | -0.096220792 |
| 11/1/2017 | -0.501027245 | 0.12066993 | 0.757470968 | -0.15093712 |
| 12/1/2017 | -0.408607064 | 0.067714525 | 0.601035863 | 0.079864774 |
| 1/1/2018 | -0.358168884 | 0.045583313 | 0.614530587 | -0.037514051 |
| 2/1/2018 | -0.390769471 | 0.313199326 | 0.574565171 | 0.09354062 |
| 3/1/2018 | -0.059358474 | 0.41884194 | 0.736674431 | -0.022371671 |
| 4/1/2018 | -0.034009827 | 0.32201716 | 0.465172757 | -0.133391853 |
| 5/1/2018 | 0.010529884 | 0.159692965 | 0.631673912 | 0.087103348 |
| 6/1/2018 | 0.031789029 | 0.221230221 | 0.305352744 | -0.063774277 |
| 7/1/2018 | 0.133884956 | 0.716667949 | 0.179639455 | 0.054718372 |
| 8/1/2018 | 0.020696244 | 0.720344411 | 0.459443565 | -0.044732432 |
| 9/1/2018 | -0.005952046 | 0.223999012 | 0.237107042 | -0.029048105 |
| 10/1/2018 | -0.059240012 | 0.432433487 | 0.261517803 | 0.216989232 |
| 11/1/2018 | -0.071448637 | 0.138352041 | 0.337692222 | 0.083123523 |
| 12/1/2018 | -0.028553567 | 0.625981881 | 0.367913348 | 0.080943053 |
| 1/1/2019 | 0.017215535 | 0.305444777 | 0.428763283 | 0.264768772 |
| 2/1/2019 | -0.068743264 | 0.413451365 | 0.387023913 | 0.143858505 |
| 3/1/2019 | -0.13917296 | 0.358702131 | 0.41834687 | -0.095254418 |
| 4/1/2019 | -0.190590481 | 0.407084316 | 0.305590988 | 0.176254451 |
| 5/1/2019 | -0.094641799 | 0.610185691 | 0.190917112 | -0.080288242 |
| 6/1/2019 | -0.081739083 | 0.672491771 | 0.302183328 | 0.146058842 |
| 7/1/2019 | -0.003988949 | 0.560166313 | 0.38842625 | 0.01223321 |
| 8/1/2019 | 0.227766705 | 0.435058365 | 0.162926117 | 0.033179782 |
| 9/1/2019 | 0.240073406 | 0.366665006 | 0.272751755 | 0.151893197 |
| 10/1/2019 | 0.082882782 | 0.291289084 | 0.388156824 | 0.205939937 |
| 11/1/2019 | 0.109834629 | 0.331158191 | 0.278758346 | 0.227733584 |
| 12/1/2019 | -0.033015308 | 0.092638433 | -0.036139696 | 0.245095484 |
| 1/1/2020 | 0.027928152 | 0.291453186 | 0.267891745 | 0.15893676 |
| 2/1/2020 | 0.054018158 | 0.350118401 | 0.055669074 | 0.275483095 |
| 3/1/2020 | -0.128294805 | 0.163579782 | 0.117386367 | 0.154104043 |
| 4/1/2020 | -0.853516135 | -0.236988177 | -0.183774112 | -0.025348702 |
| 5/1/2020 | -1.097335537 | -0.935067497 | -0.039149419 | -0.026028833 |
| 6/1/2020 | -0.556565438 | -0.470959208 | 0.141057019 | -0.123064468 |
| 7/1/2020 | -0.217521632 | -1.110663408 | 0.255025728 | -0.105246317 |
| 8/1/2020 | 0.07670666 | -0.977365087 | -0.556494045 | -0.570487147 |
| 9/1/2020 | 0.057638654 | -0.58045543 | -0.082874583 | -0.732214767 |
| 10/1/2020 | -0.007124591 | -0.744417308 | 0.134862489 | -0.724802788 |
| 11/1/2020 | 0.023919601 | -0.291626747 | -0.165491302 | -0.700206715 |
| 12/1/2020 | -0.047960407 | -0.539271453 | 0.121532957 | -0.734667805 |
| 1/1/2021 | -0.294129991 | -0.185805526 | 0.130196935 | 0.11600042 |
| 2/1/2021 | -0.387189611 | -0.81083467 | -0.453651569 | -0.011329029 |
| 3/1/2021 | -0.181318499 | -0.842971437 | -0.268770198 | -0.180872567 |
| 4/1/2021 | 1.062646726 | 0.024387711 | -0.077876745 | -0.464569351 |
| 5/1/2021 | 1.783997834 | 0.455000768 | 0.315599904 | -0.211658955 |
| 6/1/2021 | 2.410648231 | 0.285874275 | 0.60960898 | -0.206837945 |
| 7/1/2021 | 2.221096145 | 0.865193854 | 0.415686074 | -0.581124042 |
| 8/1/2021 | 1.903987261 | 1.050635549 | 1.481731714 | -0.40636228 |
| 9/1/2021 | 1.871533237 | 1.337499941 | 1.198771064 | 0.277592975 |
| 10/1/2021 | 1.799687566 | 1.276226456 | 1.502869663 | 0.257313502 |
| 11/1/2021 | 2.024851488 | 1.080460107 | 1.804921078 | 0.768896154 |
| 12/1/2021 | 2.571377595 | 1.405372086 | 2.096737199 | 0.687304412 |
| 1/1/2022 | 3.064703606 | 1.384670687 | 2.063640445 | -0.090559926 |
| 2/1/2022 | 3.430343174 | 1.758497856 | 2.870841135 | -0.020377709 |
| 3/1/2022 | 3.435742608 | 2.527202683 | 3.391782509 | 0.200420644 |
| 4/1/2022 | 3.14801531 | 2.410162783 | 3.72868864 | 0.456342122 |
| 5/1/2022 | 2.992162419 | 2.902103676 | 3.504278166 | 0.665734543 |
| 6/1/2022 | 2.862784603 | 3.013790743 | 3.130778379 | 0.717589342 |
| 7/1/2022 | 2.86319481 | 3.177995469 | 3.318036933 | 0.953514335 |
| 8/1/2022 | 3.281567624 | 2.858970087 | 3.491831443 | 1.240071745 |
| 9/1/2022 | 3.609041801 | 2.983410984 | 3.827931782 | 1.384885152 |
| 10/1/2022 | 3.325651965 | 2.83859902 | 3.622796678 | 1.646685969 |
| 11/1/2022 | 3.060022867 | 2.894567957 | 3.571537054 | 1.555250593 |
| 12/1/2022 | 2.849939618 | 2.939506562 | 3.676106363 | 1.710743536 |
| 1/1/2023 | 2.718052712 | 2.551817475 | 3.109038155 | 1.298296219 |
| 2/1/2023 | 2.714925296 | 2.434392478 | 3.478848999 | 1.501255078 |
| 3/1/2023 | 2.805319293 | 2.262698872 | 3.438299486 | 1.485682905 |
| 4/1/2023 | 2.748306873 | 2.221691349 | 4.076351332 | 1.365474731 |
| 5/1/2023 | 2.535027604 | 1.754597847 | 4.237030163 | 1.126946341 |
| 6/1/2023 | 2.010519431 | 1.422190962 | 3.947373129 | 1.248501122 |
| 7/1/2023 | 1.891469225 | 1.442810313 | 4.060112042 | 1.294182668 |
| 8/1/2023 | 1.831461103 | 1.570570955 | 3.451203398 | 1.163646458 |
| 9/1/2023 | 1.507930827 | 1.208567505 | 3.351757726 | 0.736166729 |
| 10/1/2023 | 1.505687063 | 1.384809578 | 3.023479249 | 0.419720232 |
| 11/1/2023 | 1.422995529 | 1.514135061 | 2.589407224 | 0.14578839 |
| 12/1/2023 | 1.364147257 | 1.411921496 | 2.480881751 | 0.143661826 |
| 1/1/2024 | 1.314904194 | 1.14930354 | 2.418614722 | 0.174971622 |
| 2/1/2024 | 1.228803064 | 0.897781203 | 1.913806737 | 0.199410798 |
| 3/1/2024 | 1.273391926 | 0.989717381 | 1.665108463 | 0.09041407 |
| 4/1/2024 | 1.074658124 | 0.799590329 | 1.424774929 | -0.055913009 |
| 5/1/2024 | 0.921100718 | 0.957977991 | 1.134610486 | 0.033180688 |
| 6/1/2024 | 0.775105426 | 1.026981284 | 1.412986667 | 0.043161359 |
| 7/1/2024 | 0.686861118 | 0.909992286 | 1.046572051 | -0.320968574 |
| 8/1/2024 | 0.774827886 | 0.56882102 | 1.360511898 | -0.13807192 |
| 9/1/2024 | 0.86081559 | 0.533528874 | 1.08120205 | -0.056810841 |
| 10/1/2024 | 0.829992458 | 0.473420279 | 1.004283889 | -0.150928691 |
| 11/1/2024 | 0.804059451 | 0.131245118 | 1.227999265 | -0.322591272 |
| 12/1/2024 | 0.840101764 | 0.349130336 | 0.971959807 | -0.35466445 |
| 1/1/2025 | 0.903221244 | 0.31555493 | 1.576901211 | 0.012376436 |
| 2/1/2025 | 0.685808228 | 0.985579355 | 1.256415167 | -0.116036041 |
| 3/1/2025 | 0.392983639 | 0.504568707 | 1.118916358 | -0.258539886 |
| 4/1/2025 | 0.319903584 | 0.618372838 | 1.609918262 | -0.049406837 |
| 5/1/2025 | 0.353201556 | 0.551616034 | 1.30597409 | -0.094941224 |
| 6/1/2025 | 0.437507521 | 0.602345625 | 1.368239698 | -0.223082354 |
| 7/1/2025 | 0.428117591 | 0.41437588 | 1.512001882 | -0.198134874 |
| 8/1/2025 | 0.479416518 | 0.395304057 | 1.300514924 | -0.178893999 |
| 9/1/2025 | 0.380888561 | 0.405081783 | 1.263507383 | -0.262480464 |
| 10/1/2025 | 0.263788927 | 0.758074933 | 1.15354566 | -0.242473521 |
| 11/1/2025 | 0.36262274 | 0.463662788 | 0.997875515 | -0.714632555 |
| 12/1/2025 | 0.323448783 | 0.558175848 | 1.077136783 | -0.750825508 |
| 1/1/2026 | 0.13389246 | 0.566738838 | 0.88234676 | -0.174262743 |
Note: The model estimates 12-month core inflation by fitting the inflation rate onto the core CPI DI using data from 2000 to 2019. Residuals from 2020 onwards are out-of-sample predictions. Out-of-sample data extend through January 2026 for all countries. Missing U.S. CPI data for October 2025 were estimated through linear interpolation.
Source: Haver Analytics; Federal Reserve Board staff calculations.
Return to text
Figure 5: Averages of 12-month Core Inflation Diffusion Index by Categories
| Pre-Covid | Current | |||||||
|---|---|---|---|---|---|---|---|---|
| U.S. | Canada | U.K. | Euro area | U.S. | Canada | U.K. | Euro area | |
| Core Goods | 2.782142 | 7.472607 | 7.150362 | 1.403305 | 7.342529 | 14.96845 | 8.944569 | 5.027999 |
| Housing Services | 34.19083 | 7.364335 | 0.545834 | 0.152377 | 40.28711 | 18.59935 | 11.64967 | 5.60717 |
| Non-Housing Services | 10.75896 | 10.20063 | 16.05963 | 2.641664 | 13.8574 | 14.78 | 40.71578 | 34.6794 |
Note: Current average extends from August 2025 to January 2026 for all countries. Missing U.S. CPI data for October 2025 were estimated through linear interpolation.
Source: Haver Analytics; Federal Reserve Board staff calculations.
Return to text
Figure 6: Diffusion Indexes for 12-month growth in Wages
Top Left
U.S. Goods Industries
Weighted share of good industries
| Date | Above 3% | 0% to 3% | Below 0% |
|---|---|---|---|
| 1/31/2014 | 0.357593311 | 0.394777409 | 0.24762928 |
| 2/28/2014 | 0.314071404 | 0.422095583 | 0.263833013 |
| 3/31/2014 | 0.437923101 | 0.401290271 | 0.160786628 |
| 4/30/2014 | 0.33898126 | 0.508419065 | 0.152599675 |
| 5/31/2014 | 0.357455635 | 0.467059559 | 0.175484806 |
| 6/30/2014 | 0.354926475 | 0.528207011 | 0.116866514 |
| 7/31/2014 | 0.385881031 | 0.496201804 | 0.117917165 |
| 8/31/2014 | 0.451263491 | 0.451751702 | 0.096984807 |
| 9/30/2014 | 0.346457307 | 0.460572883 | 0.19296981 |
| 10/31/2014 | 0.392927729 | 0.416216847 | 0.190855425 |
| 11/30/2014 | 0.427076118 | 0.455111566 | 0.117812316 |
| 12/31/2014 | 0.340993692 | 0.469231465 | 0.189774842 |
| 1/31/2015 | 0.375958418 | 0.524792801 | 0.099248781 |
| 2/28/2015 | 0.59050987 | 0.281941908 | 0.127548222 |
| 3/31/2015 | 0.380067 | 0.403329281 | 0.21660372 |
| 4/30/2015 | 0.346570094 | 0.438876993 | 0.214552913 |
| 5/31/2015 | 0.359118437 | 0.392948528 | 0.247933034 |
| 6/30/2015 | 0.251050373 | 0.508008493 | 0.240941134 |
| 7/31/2015 | 0.281071456 | 0.571340729 | 0.147587815 |
| 8/31/2015 | 0.373610746 | 0.48787706 | 0.138512193 |
| 9/30/2015 | 0.313277995 | 0.302391665 | 0.38433034 |
| 10/31/2015 | 0.476301531 | 0.368364556 | 0.155333913 |
| 11/30/2015 | 0.402095784 | 0.389690735 | 0.208213482 |
| 12/31/2015 | 0.493834784 | 0.292511984 | 0.213653233 |
| 1/31/2016 | 0.488126363 | 0.328776033 | 0.183097604 |
| 2/29/2016 | 0.344210049 | 0.421503069 | 0.234286882 |
| 3/31/2016 | 0.294507654 | 0.548570918 | 0.156921428 |
| 4/30/2016 | 0.460905428 | 0.451936561 | 0.08715801 |
| 5/31/2016 | 0.49838293 | 0.432124518 | 0.069492553 |
| 6/30/2016 | 0.5388018 | 0.397711289 | 0.063486911 |
| 7/31/2016 | 0.574553441 | 0.32066549 | 0.104781069 |
| 8/31/2016 | 0.420546195 | 0.379813528 | 0.199640276 |
| 9/30/2016 | 0.514469147 | 0.380998647 | 0.104532206 |
| 10/31/2016 | 0.427630286 | 0.472173786 | 0.100195928 |
| 11/30/2016 | 0.398281456 | 0.47254892 | 0.129169624 |
| 12/31/2016 | 0.355244738 | 0.495448585 | 0.149306677 |
| 1/31/2017 | 0.302793034 | 0.609640371 | 0.087566595 |
| 2/28/2017 | 0.496641753 | 0.356094081 | 0.147264165 |
| 3/31/2017 | 0.312892438 | 0.490902678 | 0.196204883 |
| 4/30/2017 | 0.323081081 | 0.562918403 | 0.114000515 |
| 5/31/2017 | 0.319497803 | 0.534532329 | 0.145969868 |
| 6/30/2017 | 0.478930942 | 0.410078872 | 0.110990186 |
| 7/31/2017 | 0.46567209 | 0.437753514 | 0.096574396 |
| 8/31/2017 | 0.394818782 | 0.501407398 | 0.10377382 |
| 9/30/2017 | 0.36007393 | 0.317669828 | 0.322256242 |
| 10/31/2017 | 0.38084205 | 0.452338062 | 0.166819887 |
| 11/30/2017 | 0.511213818 | 0.316359784 | 0.172426398 |
| 12/31/2017 | 0.43588413 | 0.42557345 | 0.13854242 |
| 1/31/2018 | 0.306374441 | 0.495446828 | 0.198178731 |
| 2/28/2018 | 0.593912526 | 0.298104495 | 0.107982979 |
| 3/31/2018 | 0.713533623 | 0.203537545 | 0.082928832 |
| 4/30/2018 | 0.62440979 | 0.242980093 | 0.132610116 |
| 5/31/2018 | 0.556742526 | 0.309665534 | 0.13359194 |
| 6/30/2018 | 0.412984889 | 0.418023802 | 0.168991309 |
| 7/31/2018 | 0.617629282 | 0.160801924 | 0.221568793 |
| 8/31/2018 | 0.443564965 | 0.392835828 | 0.163599207 |
| 9/30/2018 | 0.544285671 | 0.32125989 | 0.134454439 |
| 10/31/2018 | 0.376642029 | 0.461955411 | 0.16140256 |
| 11/30/2018 | 0.443974503 | 0.339150861 | 0.216874636 |
| 12/31/2018 | 0.587266839 | 0.223061237 | 0.189671925 |
| 1/31/2019 | 0.592556253 | 0.228008878 | 0.179434869 |
| 2/28/2019 | 0.276889836 | 0.468397203 | 0.254712961 |
| 3/31/2019 | 0.519868899 | 0.314744688 | 0.165386413 |
| 4/30/2019 | 0.379419203 | 0.41453965 | 0.206041147 |
| 5/31/2019 | 0.200128934 | 0.597020182 | 0.202850884 |
| 6/30/2019 | 0.532909539 | 0.306000976 | 0.161089485 |
| 7/31/2019 | 0.248103525 | 0.576784174 | 0.175112301 |
| 8/31/2019 | 0.382202381 | 0.430071429 | 0.18772619 |
| 9/30/2019 | 0.442379912 | 0.435398725 | 0.122221363 |
| 10/31/2019 | 0.366943923 | 0.444635244 | 0.188420833 |
| 11/30/2019 | 0.555309101 | 0.300664234 | 0.144026665 |
| 12/31/2019 | 0.208706778 | 0.4879196 | 0.303373621 |
| 1/31/2020 | 0.232823556 | 0.559575439 | 0.207601004 |
| 2/29/2020 | 0.560948108 | 0.316747835 | 0.122304057 |
| 3/31/2020 | 0.429473913 | 0.343256925 | 0.227269162 |
| 4/30/2020 | 0.179095164 | 0.267218341 | 0.553686495 |
| 5/31/2020 | 0.115625694 | 0.559219891 | 0.325154416 |
| 6/30/2020 | 0.229295911 | 0.475781205 | 0.294922884 |
| 7/31/2020 | 0.509718673 | 0.331610795 | 0.158670531 |
| 8/31/2020 | 0.463019327 | 0.396521331 | 0.140459342 |
| 9/30/2020 | 0.314101185 | 0.329270144 | 0.35662867 |
| 10/31/2020 | 0.501742226 | 0.368747046 | 0.129510727 |
| 11/30/2020 | 0.536416505 | 0.318855265 | 0.144728229 |
| 12/31/2020 | 0.604546311 | 0.176728414 | 0.218725275 |
| 1/31/2021 | 0.575392259 | 0.256403484 | 0.168204257 |
| 2/28/2021 | 0.312656543 | 0.471328618 | 0.216014839 |
| 3/31/2021 | 0.633332917 | 0.177273238 | 0.189393845 |
| 4/30/2021 | 0.786141226 | 0.158920109 | 0.054938665 |
| 5/31/2021 | 0.86177276 | 0.120109531 | 0.018117709 |
| 6/30/2021 | 0.758818724 | 0.187130929 | 0.054050346 |
| 7/31/2021 | 0.713963236 | 0.188100095 | 0.09793667 |
| 8/31/2021 | 0.705605769 | 0.252281273 | 0.042112958 |
| 9/30/2021 | 0.826550017 | 0.129570404 | 0.04387958 |
| 10/31/2021 | 0.79894817 | 0.109575828 | 0.091476002 |
| 11/30/2021 | 0.772675065 | 0.161349446 | 0.065975489 |
| 12/31/2021 | 0.759309774 | 0.151002216 | 0.064559536 |
| 1/31/2022 | 0.738604935 | 0.165263479 | 0.07084374 |
| 2/28/2022 | 0.851165723 | 0.045228598 | 0.078169518 |
| 3/31/2022 | 0.720950402 | 0.16901858 | 0.084680941 |
| 4/30/2022 | 0.749369233 | 0.067876538 | 0.157283256 |
| 5/31/2022 | 0.710210192 | 0.147416013 | 0.116905204 |
| 6/30/2022 | 0.734131058 | 0.103771783 | 0.136709238 |
| 7/31/2022 | 0.705962446 | 0.202662528 | 0.066129167 |
| 8/31/2022 | 0.734275115 | 0.159269921 | 0.081210862 |
| 9/30/2022 | 0.567095387 | 0.282196958 | 0.125452467 |
| 10/31/2022 | 0.76063462 | 0.077117618 | 0.137087482 |
| 11/30/2022 | 0.562929021 | 0.248360578 | 0.163594225 |
| 12/31/2022 | 0.561950125 | 0.222355525 | 0.190303095 |
| 1/31/2023 | 0.733904787 | 0.133235245 | 0.049167242 |
| 2/28/2023 | 0.559862824 | 0.27912169 | 0.077173596 |
| 3/31/2023 | 0.664381193 | 0.198150555 | 0.053867617 |
| 4/30/2023 | 0.683742271 | 0.175009075 | 0.057653969 |
| 5/31/2023 | 0.719737914 | 0.133974279 | 0.062661649 |
| 6/30/2023 | 0.766651641 | 0.089399888 | 0.060687299 |
| 7/31/2023 | 0.67861526 | 0.185388962 | 0.05299199 |
| 8/31/2023 | 0.708017142 | 0.123518687 | 0.08560537 |
| 9/30/2023 | 0.669926867 | 0.187038483 | 0.060210168 |
| 10/31/2023 | 0.692898341 | 0.122115413 | 0.10235736 |
| 11/30/2023 | 0.711380432 | 0.088436299 | 0.11768253 |
| 12/31/2023 | 0.661545753 | 0.17407945 | 0.081618627 |
| 1/31/2024 | 0.43570959 | 0.261413909 | 0.220401419 |
| 2/29/2024 | 0.623590315 | 0.199251327 | 0.094656226 |
| 3/31/2024 | 0.692832724 | 0.149585389 | 0.075049978 |
| 4/30/2024 | 0.54473074 | 0.311015285 | 0.061790176 |
| 5/31/2024 | 0.544447598 | 0.311009001 | 0.062242014 |
| 6/30/2024 | 0.702202211 | 0.182203866 | 0.033219293 |
| 7/31/2024 | 0.53444552 | 0.298390143 | 0.084688651 |
| 8/31/2024 | 0.413915352 | 0.460993954 | 0.042760655 |
| 9/30/2024 | 0.654996078 | 0.198168016 | 0.064626673 |
| 10/31/2024 | 0.599528168 | 0.18030131 | 0.137800955 |
| 11/30/2024 | 0.481989243 | 0.260634938 | 0.175177569 |
| 12/31/2024 | 0.642696483 | 0.104917026 | 0.125514343 |
| 1/31/2025 | 0.664354373 | 0.171989678 | 0.036631706 |
| 2/28/2025 | 0.571151377 | 0.131133867 | 0.170656823 |
| 3/31/2025 | 0.587585497 | 0.250414172 | 0.03489693 |
| 4/30/2025 | 0.595855842 | 0.251122721 | 0.02593353 |
| 5/31/2025 | 0.64750697 | 0.109299063 | 0.116106576 |
| 6/30/2025 | 0.501778896 | 0.249412461 | 0.121781856 |
| 7/31/2025 | 0.729676199 | 0.078047678 | 0.064647174 |
| 8/31/2025 | 0.616178756 | 0.218199463 | 0.037663505 |
| 9/30/2025 | 0.590326906 | 0.227064398 | 0.054617516 |
| 10/31/2025 | 0.640775368 | 0.194044624 | 0.037009433 |
| 11/30/2025 | 0.70215554 | 0.142525299 | 0.027315016 |
| 12/31/2025 | 0.690471368 | 0.135232228 | 0.046773348 |
Top Right
U.S. Services Industries
Weighted share of services industries
| Date | Above 3% | 0% to 3% | Below 0% |
|---|---|---|---|
| 1/31/2014 | 0.261550824 | 0.528506943 | 0.209942233 |
| 2/28/2014 | 0.213445335 | 0.556108991 | 0.230445674 |
| 3/31/2014 | 0.253957107 | 0.571328886 | 0.174714008 |
| 4/30/2014 | 0.345565424 | 0.527450858 | 0.126983718 |
| 5/31/2014 | 0.308507311 | 0.553490133 | 0.138002555 |
| 6/30/2014 | 0.248496425 | 0.558137695 | 0.193365881 |
| 7/31/2014 | 0.382441253 | 0.467200139 | 0.150358609 |
| 8/31/2014 | 0.514704184 | 0.325609621 | 0.159686195 |
| 9/30/2014 | 0.45826451 | 0.401997179 | 0.139738311 |
| 10/31/2014 | 0.512004157 | 0.33697099 | 0.151024853 |
| 11/30/2014 | 0.540832365 | 0.317339457 | 0.141828177 |
| 12/31/2014 | 0.571399649 | 0.289957958 | 0.138642393 |
| 1/31/2015 | 0.581047787 | 0.305182915 | 0.113769298 |
| 2/28/2015 | 0.608474829 | 0.27377038 | 0.117754791 |
| 3/31/2015 | 0.353970773 | 0.514761097 | 0.13126813 |
| 4/30/2015 | 0.470969877 | 0.324671864 | 0.204358259 |
| 5/31/2015 | 0.457269717 | 0.398929933 | 0.14380035 |
| 6/30/2015 | 0.450225947 | 0.428074795 | 0.121699259 |
| 7/31/2015 | 0.466285096 | 0.405759148 | 0.127955756 |
| 8/31/2015 | 0.525920719 | 0.312358173 | 0.161721108 |
| 9/30/2015 | 0.567789472 | 0.249920793 | 0.182289735 |
| 10/31/2015 | 0.524191061 | 0.373372036 | 0.102436904 |
| 11/30/2015 | 0.502310301 | 0.378025708 | 0.119663992 |
| 12/31/2015 | 0.41346501 | 0.488739407 | 0.097795584 |
| 1/31/2016 | 0.456651028 | 0.460415558 | 0.082933415 |
| 2/29/2016 | 0.420543557 | 0.450772808 | 0.128683635 |
| 3/31/2016 | 0.44918119 | 0.466393944 | 0.084424867 |
| 4/30/2016 | 0.469494091 | 0.415773095 | 0.114732814 |
| 5/31/2016 | 0.402952948 | 0.433490977 | 0.163556075 |
| 6/30/2016 | 0.480436773 | 0.386455221 | 0.133108005 |
| 7/31/2016 | 0.495371387 | 0.344364957 | 0.160263655 |
| 8/31/2016 | 0.397708203 | 0.420573204 | 0.181718594 |
| 9/30/2016 | 0.440106176 | 0.321491923 | 0.238401901 |
| 10/31/2016 | 0.407788359 | 0.389556307 | 0.202655334 |
| 11/30/2016 | 0.443098954 | 0.370549027 | 0.186352019 |
| 12/31/2016 | 0.373497477 | 0.443750862 | 0.182751661 |
| 1/31/2017 | 0.308974525 | 0.491575706 | 0.199449769 |
| 2/28/2017 | 0.432786531 | 0.417136395 | 0.150077075 |
| 3/31/2017 | 0.381286524 | 0.443242239 | 0.175471237 |
| 4/30/2017 | 0.441570565 | 0.417766504 | 0.140662931 |
| 5/31/2017 | 0.49424471 | 0.419757529 | 0.085997761 |
| 6/30/2017 | 0.442870167 | 0.429438973 | 0.12769086 |
| 7/31/2017 | 0.416587169 | 0.489130491 | 0.094282339 |
| 8/31/2017 | 0.480598921 | 0.421243231 | 0.098157848 |
| 9/30/2017 | 0.525061013 | 0.377955888 | 0.0969831 |
| 10/31/2017 | 0.415338172 | 0.425821881 | 0.158839947 |
| 11/30/2017 | 0.540097958 | 0.371949452 | 0.087952589 |
| 12/31/2017 | 0.573409054 | 0.333988798 | 0.092602148 |
| 1/31/2018 | 0.448511765 | 0.445092215 | 0.106396021 |
| 2/28/2018 | 0.544074574 | 0.37686112 | 0.079064306 |
| 3/31/2018 | 0.630053081 | 0.293247823 | 0.076699096 |
| 4/30/2018 | 0.534055747 | 0.376100495 | 0.089843758 |
| 5/31/2018 | 0.611077476 | 0.308473264 | 0.08044926 |
| 6/30/2018 | 0.577783653 | 0.336681179 | 0.085535168 |
| 7/31/2018 | 0.624394683 | 0.297583875 | 0.078021441 |
| 8/31/2018 | 0.61528874 | 0.333002062 | 0.051709198 |
| 9/30/2018 | 0.549049633 | 0.392549982 | 0.058400386 |
| 10/31/2018 | 0.584526034 | 0.350263995 | 0.065209971 |
| 11/30/2018 | 0.526590581 | 0.406860778 | 0.066548641 |
| 12/31/2018 | 0.565058984 | 0.37241838 | 0.062522637 |
| 1/31/2019 | 0.638311993 | 0.292727031 | 0.068960975 |
| 2/28/2019 | 0.628348642 | 0.295625799 | 0.076025559 |
| 3/31/2019 | 0.657186857 | 0.240224711 | 0.102588432 |
| 4/30/2019 | 0.660043908 | 0.231599208 | 0.108356884 |
| 5/31/2019 | 0.552075075 | 0.283229051 | 0.164695874 |
| 6/30/2019 | 0.562318196 | 0.316950955 | 0.120730848 |
| 7/31/2019 | 0.540240073 | 0.372809402 | 0.086950525 |
| 8/31/2019 | 0.528889384 | 0.385654773 | 0.085455843 |
| 9/30/2019 | 0.551339112 | 0.349284072 | 0.099376816 |
| 10/31/2019 | 0.57016269 | 0.307701546 | 0.122135764 |
| 11/30/2019 | 0.606014377 | 0.27678145 | 0.117204173 |
| 12/31/2019 | 0.530036711 | 0.328281522 | 0.141681766 |
| 1/31/2020 | 0.472067398 | 0.346597818 | 0.181334783 |
| 2/29/2020 | 0.413734348 | 0.44888805 | 0.137377601 |
| 3/31/2020 | 0.439045296 | 0.381638273 | 0.179316431 |
| 4/30/2020 | 0.468608523 | 0.23345319 | 0.297938286 |
| 5/31/2020 | 0.62671023 | 0.250885734 | 0.122404037 |
| 6/30/2020 | 0.510971465 | 0.324110337 | 0.164918198 |
| 7/31/2020 | 0.557389873 | 0.315653483 | 0.126956644 |
| 8/31/2020 | 0.619472183 | 0.245197557 | 0.13533026 |
| 9/30/2020 | 0.662006415 | 0.244959659 | 0.093033926 |
| 10/31/2020 | 0.751674674 | 0.204925423 | 0.043399902 |
| 11/30/2020 | 0.70270052 | 0.242889543 | 0.054409937 |
| 12/31/2020 | 0.740351592 | 0.081086533 | 0.178561875 |
| 1/31/2021 | 0.78577633 | 0.157153974 | 0.057069695 |
| 2/28/2021 | 0.662248892 | 0.270247746 | 0.067503362 |
| 3/31/2021 | 0.79712614 | 0.183619082 | 0.019254779 |
| 4/30/2021 | 0.693327255 | 0.139511192 | 0.167161553 |
| 5/31/2021 | 0.71723472 | 0.153793791 | 0.128971489 |
| 6/30/2021 | 0.760386802 | 0.178446855 | 0.061166343 |
| 7/31/2021 | 0.801126893 | 0.142273938 | 0.056599168 |
| 8/31/2021 | 0.707425605 | 0.203142759 | 0.089431636 |
| 9/30/2021 | 0.759416861 | 0.172993781 | 0.067589358 |
| 10/31/2021 | 0.780362078 | 0.154201424 | 0.065436498 |
| 11/30/2021 | 0.832972705 | 0.109403934 | 0.057623361 |
| 12/31/2021 | 0.782583774 | 0.157752437 | 0.05806288 |
| 1/31/2022 | 0.708271144 | 0.194267377 | 0.095843301 |
| 2/28/2022 | 0.797167747 | 0.095897398 | 0.105325163 |
| 3/31/2022 | 0.815329352 | 0.057715842 | 0.125332128 |
| 4/30/2022 | 0.788028518 | 0.088338788 | 0.122015331 |
| 5/31/2022 | 0.790604903 | 0.084948398 | 0.122822482 |
| 6/30/2022 | 0.802398897 | 0.067569826 | 0.128395801 |
| 7/31/2022 | 0.77823299 | 0.113757285 | 0.106365018 |
| 8/31/2022 | 0.790394347 | 0.136326565 | 0.07162819 |
| 9/30/2022 | 0.779393877 | 0.135914467 | 0.083061965 |
| 10/31/2022 | 0.797595054 | 0.139687213 | 0.061153012 |
| 11/30/2022 | 0.727326301 | 0.184353822 | 0.086716954 |
| 12/31/2022 | 0.515947399 | 0.355561288 | 0.126893631 |
| 1/31/2023 | 0.74994176 | 0.195841384 | 0.052618442 |
| 2/28/2023 | 0.664229542 | 0.269046103 | 0.065098195 |
| 3/31/2023 | 0.680804552 | 0.183172143 | 0.134411079 |
| 4/30/2023 | 0.621720637 | 0.265551473 | 0.111101796 |
| 5/31/2023 | 0.64711184 | 0.226002398 | 0.125294422 |
| 6/30/2023 | 0.615092997 | 0.300874011 | 0.082407288 |
| 7/31/2023 | 0.628252319 | 0.26491746 | 0.105194287 |
| 8/31/2023 | 0.66757181 | 0.25537868 | 0.075418504 |
| 9/30/2023 | 0.660939108 | 0.21770575 | 0.11973472 |
| 10/31/2023 | 0.607179477 | 0.246873031 | 0.144334823 |
| 11/30/2023 | 0.594414006 | 0.244365435 | 0.159606048 |
| 12/31/2023 | 0.6438473 | 0.192523764 | 0.162010275 |
| 1/31/2024 | 0.546485928 | 0.273880884 | 0.178033311 |
| 2/29/2024 | 0.595544019 | 0.330472675 | 0.072386502 |
| 3/31/2024 | 0.614623087 | 0.28361535 | 0.100185224 |
| 4/30/2024 | 0.562961842 | 0.332575069 | 0.102919239 |
| 5/31/2024 | 0.588251506 | 0.3065569 | 0.10368251 |
| 6/30/2024 | 0.574140318 | 0.302714623 | 0.121638273 |
| 7/31/2024 | 0.518944185 | 0.348521179 | 0.131043339 |
| 8/31/2024 | 0.530302023 | 0.3256847 | 0.142504947 |
| 9/30/2024 | 0.520050271 | 0.371615954 | 0.106825635 |
| 10/31/2024 | 0.566168223 | 0.349457412 | 0.082859874 |
| 11/30/2024 | 0.600854848 | 0.316002335 | 0.081619325 |
| 12/31/2024 | 0.578724928 | 0.317589916 | 0.102168196 |
| 1/31/2025 | 0.635284673 | 0.308618204 | 0.054574055 |
| 2/28/2025 | 0.593390274 | 0.340808139 | 0.064279042 |
| 3/31/2025 | 0.68964078 | 0.241356282 | 0.067485958 |
| 4/30/2025 | 0.723341464 | 0.228337782 | 0.046785712 |
| 5/31/2025 | 0.621001022 | 0.34745174 | 0.030003651 |
| 6/30/2025 | 0.623158912 | 0.328492783 | 0.046801144 |
| 7/31/2025 | 0.72922802 | 0.233682801 | 0.035556845 |
| 8/31/2025 | 0.678587127 | 0.29702354 | 0.022861887 |
| 9/30/2025 | 0.596442354 | 0.362007416 | 0.040022325 |
| 10/31/2025 | 0.733863532 | 0.203432821 | 0.061186972 |
| 11/30/2025 | 0.589487498 | 0.368289562 | 0.040727003 |
| 12/31/2025 | 0.56205489 | 0.37046908 | 0.066000057 |
Bottom Left
Canada Goods Industries
Weighted share of good industries
| Date | Above 3% | 0% to 3% | Below 0% |
|---|---|---|---|
| 1/31/2014 | 0.511019407 | 0.133502221 | 0.31089058 |
| 2/28/2014 | 0.542544983 | 0.173263977 | 0.23655275 |
| 3/31/2014 | 0.69648233 | 0.045198783 | 0.214867505 |
| 4/30/2014 | 0.470057171 | 0.232116185 | 0.254691389 |
| 5/31/2014 | 0.498652921 | 0.18201195 | 0.282785668 |
| 6/30/2014 | 0.565892403 | 0.187262024 | 0.216920897 |
| 7/31/2014 | 0.593662064 | 0.129570919 | 0.243462856 |
| 8/31/2014 | 0.362634604 | 0.228754334 | 0.369623844 |
| 9/30/2014 | 0.556150417 | 0.186547347 | 0.227929037 |
| 10/31/2014 | 0.354343999 | 0.232903906 | 0.368130656 |
| 11/30/2014 | 0.337530746 | 0.148964038 | 0.471607253 |
| 12/31/2014 | 0.364989671 | 0.188969523 | 0.408720446 |
| 1/31/2015 | 0.423087168 | 0.122823803 | 0.407696663 |
| 2/28/2015 | 0.463887076 | 0.04445279 | 0.451272434 |
| 3/31/2015 | 0.278031027 | 0.316026202 | 0.364334363 |
| 4/30/2015 | 0.495622743 | 0.208687497 | 0.243216572 |
| 5/31/2015 | 0.220687785 | 0.157045417 | 0.585684624 |
| 6/30/2015 | 0.40487075 | 0.161884653 | 0.398488354 |
| 7/31/2015 | 0.359115981 | 0.072986133 | 0.536081809 |
| 8/31/2015 | 0.234929342 | 0.205636325 | 0.515894782 |
| 9/30/2015 | 0.32260768 | 0.146818567 | 0.496428815 |
| 10/31/2015 | 0.338600985 | 0.165751474 | 0.445196102 |
| 11/30/2015 | 0.384288368 | 0.203451684 | 0.362940007 |
| 12/31/2015 | 0.38603369 | 0.134796282 | 0.425983886 |
| 1/31/2016 | 0.271780334 | 0.233845619 | 0.444408071 |
| 2/29/2016 | 0.408200972 | 0.14344274 | 0.400751438 |
| 3/31/2016 | 0.45915215 | 0.146783903 | 0.357351442 |
| 4/30/2016 | 0.282403837 | 0.222155815 | 0.44498033 |
| 5/31/2016 | 0.279559877 | 0.293111692 | 0.387852516 |
| 6/30/2016 | 0.254787604 | 0.233812121 | 0.464290364 |
| 7/31/2016 | 0.421098745 | 0.123713769 | 0.422096876 |
| 8/31/2016 | 0.333699518 | 0.239995586 | 0.388951488 |
| 9/30/2016 | 0.29705872 | 0.117763266 | 0.542848784 |
| 10/31/2016 | 0.238724321 | 0.140808952 | 0.578762568 |
| 11/30/2016 | 0.378437996 | 0.245508021 | 0.335067957 |
| 12/31/2016 | 0.351395782 | 0.177572097 | 0.42307905 |
| 1/31/2017 | 0.410670625 | 0.198608016 | 0.354537934 |
| 2/28/2017 | 0.318733328 | 0.19912977 | 0.450537373 |
| 3/31/2017 | 0.37458882 | 0.110455346 | 0.486902759 |
| 4/30/2017 | 0.282871272 | 0.075562805 | 0.61388023 |
| 5/31/2017 | 0.27588609 | 0.197333577 | 0.490201854 |
| 6/30/2017 | 0.237078897 | 0.104248024 | 0.615290152 |
| 7/31/2017 | 0.340385196 | 0.099232426 | 0.523861091 |
| 8/31/2017 | 0.446915325 | 0.077206577 | 0.445431924 |
| 9/30/2017 | 0.499893278 | 0.141744087 | 0.320834055 |
| 10/31/2017 | 0.406055756 | 0.315181188 | 0.247619661 |
| 11/30/2017 | 0.508768709 | 0.099082935 | 0.342611006 |
| 12/31/2017 | 0.369200493 | 0.180953246 | 0.418330305 |
| 1/31/2018 | 0.343628495 | 0.227445985 | 0.371181775 |
| 2/28/2018 | 0.470084374 | 0.095322434 | 0.369210224 |
| 3/31/2018 | 0.500400475 | 0.121674735 | 0.32607727 |
| 4/30/2018 | 0.422024693 | 0.09015378 | 0.438731044 |
| 5/31/2018 | 0.532810016 | 0.1360497 | 0.29217082 |
| 6/30/2018 | 0.631704289 | 0.069736298 | 0.259832226 |
| 7/31/2018 | 0.529808415 | 0.1351139 | 0.293023257 |
| 8/31/2018 | 0.508800125 | 0.08396081 | 0.359007933 |
| 9/30/2018 | 0.183281268 | 0.269820896 | 0.5039315 |
| 10/31/2018 | 0.314405293 | 0.078593981 | 0.560302924 |
| 11/30/2018 | 0.352575152 | 0.114159629 | 0.471473216 |
| 12/31/2018 | 0.434397545 | 0.050144346 | 0.467641002 |
| 1/31/2019 | 0.387166621 | 0.205376448 | 0.345923247 |
| 2/28/2019 | 0.320868456 | 0.177390255 | 0.435685132 |
| 3/31/2019 | 0.399014434 | 0.214692313 | 0.326305785 |
| 4/30/2019 | 0.360352704 | 0.207749604 | 0.377650261 |
| 5/31/2019 | 0.446608709 | 0.1579567 | 0.357061011 |
| 6/30/2019 | 0.360802153 | 0.256032328 | 0.361248599 |
| 7/31/2019 | 0.44354331 | 0.15280612 | 0.374407294 |
| 8/31/2019 | 0.528793395 | 0.207485613 | 0.226984522 |
| 9/30/2019 | 0.682440133 | 0.126678945 | 0.159961959 |
| 10/31/2019 | 0.638814714 | 0.1256015 | 0.189872021 |
| 11/30/2019 | 0.43631346 | 0.118711723 | 0.394512461 |
| 12/31/2019 | 0.644649902 | 0.067213119 | 0.254818206 |
| 1/31/2020 | 0.675825486 | 0.046059967 | 0.220845001 |
| 2/29/2020 | 0.601934832 | 0.150607122 | 0.191182642 |
| 3/31/2020 | 0.369145864 | 0.136480307 | 0.428490649 |
| 4/30/2020 | 0.377370256 | 0.288457039 | 0.264321099 |
| 5/31/2020 | 0.431856412 | 0.115729817 | 0.392834429 |
| 6/30/2020 | 0.474185513 | 0.175050504 | 0.310775551 |
| 7/31/2020 | 0.446173116 | 0.236180371 | 0.271577682 |
| 8/31/2020 | 0.310624786 | 0.285263282 | 0.351022063 |
| 9/30/2020 | 0.367584017 | 0.122396303 | 0.464274855 |
| 10/31/2020 | 0.346146459 | 0.18336946 | 0.41880196 |
| 11/30/2020 | 0.517431103 | 0.15762916 | 0.273529661 |
| 12/31/2020 | 0.364534211 | 0.030540828 | 0.557841626 |
| 1/31/2021 | 0.309340801 | 0.255433781 | 0.39183362 |
| 2/28/2021 | 0.546439491 | 0.073268042 | 0.335735869 |
| 3/31/2021 | 0.594208482 | 0.154538209 | 0.209945726 |
| 4/30/2021 | 0.511120502 | 0.100029068 | 0.331619917 |
| 5/31/2021 | 0.598270852 | 0.067338936 | 0.298864098 |
| 6/30/2021 | 0.579352603 | 0.217470033 | 0.172291633 |
| 7/31/2021 | 0.650375979 | 0.108043484 | 0.212297891 |
| 8/31/2021 | 0.547779569 | 0.175337233 | 0.240649427 |
| 9/30/2021 | 0.523008942 | 0.099126694 | 0.350725928 |
| 10/31/2021 | 0.612261621 | 0.081140309 | 0.273463033 |
| 11/30/2021 | 0.597750392 | 0.078785739 | 0.291090647 |
| 12/31/2021 | 0.700005159 | 0.055497164 | 0.196418546 |
| 1/31/2022 | 0.518970703 | 0.26603323 | 0.177392881 |
| 2/28/2022 | 0.493859491 | 0.185369055 | 0.28774741 |
| 3/31/2022 | 0.714887106 | 0.113334472 | 0.140004212 |
| 4/30/2022 | 0.425485555 | 0.230537847 | 0.304103418 |
| 5/31/2022 | 0.533339807 | 0.162982385 | 0.275054814 |
| 6/30/2022 | 0.582217769 | 0.26386652 | 0.125874529 |
| 7/31/2022 | 0.544334481 | 0.220424918 | 0.197478947 |
| 8/31/2022 | 0.438753773 | 0.300301842 | 0.22519747 |
| 9/30/2022 | 0.599459433 | 0.150222131 | 0.215985023 |
| 10/31/2022 | 0.581586521 | 0.115173339 | 0.269133368 |
| 11/30/2022 | 0.525713568 | 0.289392842 | 0.156214407 |
| 12/31/2022 | 0.325945182 | 0.277247652 | 0.342578789 |
| 1/31/2023 | 0.668239659 | 0.123307699 | 0.173894608 |
| 2/28/2023 | 0.56735753 | 0.215930812 | 0.176001381 |
| 3/31/2023 | 0.521935665 | 0.174903328 | 0.271670916 |
| 4/30/2023 | 0.65452644 | 0.097570178 | 0.208339481 |
| 5/31/2023 | 0.700369214 | 0.120821436 | 0.144603202 |
| 6/30/2023 | 0.4745274 | 0.266199842 | 0.226608934 |
| 7/31/2023 | 0.549320954 | 0.201861257 | 0.205239097 |
| 8/31/2023 | 0.520477671 | 0.248725187 | 0.189721932 |
| 9/30/2023 | 0.389482933 | 0.279204217 | 0.290511342 |
| 10/31/2023 | 0.585988346 | 0.196522866 | 0.175090025 |
| 11/30/2023 | 0.54282992 | 0.188988993 | 0.239607145 |
| 12/31/2023 | 0.604092159 | 0.12867796 | 0.22622349 |
| 1/31/2024 | 0.352776552 | 0.321843903 | 0.287285795 |
| 2/29/2024 | 0.483284302 | 0.213137999 | 0.257395324 |
| 3/31/2024 | 0.312969363 | 0.239899662 | 0.413851605 |
| 4/30/2024 | 0.348924911 | 0.220969759 | 0.387094667 |
| 5/31/2024 | 0.495725861 | 0.264284273 | 0.187989807 |
| 6/30/2024 | 0.505444741 | 0.197772199 | 0.256973797 |
| 7/31/2024 | 0.387124505 | 0.155062322 | 0.418058707 |
| 8/31/2024 | 0.499745859 | 0.295874508 | 0.156906594 |
| 9/30/2024 | 0.492836772 | 0.263662985 | 0.197821353 |
| 10/31/2024 | 0.396963253 | 0.259372809 | 0.303015741 |
| 11/30/2024 | 0.346783644 | 0.37871724 | 0.232081932 |
| 12/31/2024 | 0.347547478 | 0.286065203 | 0.330879062 |
| 1/31/2025 | 0.522286013 | 0.25513841 | 0.195239087 |
| 2/28/2025 | 0.469730082 | 0.229972536 | 0.258134282 |
| 3/31/2025 | 0.534149564 | 0.235108821 | 0.201290577 |
| 4/30/2025 | 0.592916238 | 0.171306769 | 0.198167661 |
| 5/31/2025 | 0.362277917 | 0.2829839 | 0.302620095 |
| 6/30/2025 | 0.440524877 | 0.31222121 | 0.205385441 |
| 7/31/2025 | 0.531130957 | 0.228202861 | 0.202505034 |
| 8/31/2025 | 0.536258803 | 0.136439045 | 0.28793626 |
| 9/30/2025 | 0.602845081 | 0.103166758 | 0.245901714 |
| 10/31/2025 | 0.451140164 | 0.177700711 | 0.32915679 |
| 11/30/2025 | 0.534092631 | 0.185772511 | 0.228394774 |
Bottom Right
Canada Services Industries
Weighted share of services industries
| Date | Above 3% | 0% to 3% | Below 0% |
|---|---|---|---|
| 1/31/2014 | 0.461506203 | 0.301321678 | 0.224664589 |
| 2/28/2014 | 0.414973885 | 0.227573879 | 0.352058761 |
| 3/31/2014 | 0.372211758 | 0.261633766 | 0.347977669 |
| 4/30/2014 | 0.440642378 | 0.255469372 | 0.282668745 |
| 5/31/2014 | 0.37112677 | 0.169564038 | 0.441010711 |
| 6/30/2014 | 0.386201876 | 0.268857893 | 0.328033083 |
| 7/31/2014 | 0.464024899 | 0.202108603 | 0.328108084 |
| 8/31/2014 | 0.431850586 | 0.244302433 | 0.319732125 |
| 9/30/2014 | 0.462886082 | 0.229382134 | 0.300071122 |
| 10/31/2014 | 0.418420468 | 0.253778602 | 0.321744826 |
| 11/30/2014 | 0.261786603 | 0.419438452 | 0.312176932 |
| 12/31/2014 | 0.387878673 | 0.332536474 | 0.274359004 |
| 1/31/2015 | 0.478897398 | 0.297760628 | 0.2157063 |
| 2/28/2015 | 0.354831836 | 0.366278906 | 0.271761994 |
| 3/31/2015 | 0.483118696 | 0.270726505 | 0.224254329 |
| 4/30/2015 | 0.476115546 | 0.166257775 | 0.334322697 |
| 5/31/2015 | 0.367691157 | 0.317169865 | 0.298535002 |
| 6/30/2015 | 0.450922011 | 0.262514259 | 0.271886591 |
| 7/31/2015 | 0.413156359 | 0.220858729 | 0.359569614 |
| 8/31/2015 | 0.493354003 | 0.190425718 | 0.310607985 |
| 9/30/2015 | 0.458716124 | 0.267833437 | 0.264087674 |
| 10/31/2015 | 0.368712509 | 0.240941738 | 0.382019164 |
| 11/30/2015 | 0.384284302 | 0.330162078 | 0.27043418 |
| 12/31/2015 | 0.471368275 | 0.184354744 | 0.337305839 |
| 1/31/2016 | 0.262017354 | 0.264675573 | 0.455884986 |
| 2/29/2016 | 0.317406346 | 0.265087768 | 0.391775046 |
| 3/31/2016 | 0.265780446 | 0.353280234 | 0.361374683 |
| 4/30/2016 | 0.390609012 | 0.199306633 | 0.387392769 |
| 5/31/2016 | 0.311710981 | 0.274837433 | 0.397980692 |
| 6/30/2016 | 0.330891179 | 0.195406362 | 0.459853496 |
| 7/31/2016 | 0.257400389 | 0.244527725 | 0.493123912 |
| 8/31/2016 | 0.348702634 | 0.232241334 | 0.414298686 |
| 9/30/2016 | 0.311775851 | 0.28594414 | 0.397690127 |
| 10/31/2016 | 0.270296168 | 0.321695263 | 0.400314954 |
| 11/30/2016 | 0.329543851 | 0.236860261 | 0.42132676 |
| 12/31/2016 | 0.286320124 | 0.377277236 | 0.32973409 |
| 1/31/2017 | 0.438452578 | 0.260527703 | 0.285180553 |
| 2/28/2017 | 0.281726969 | 0.302394831 | 0.38985364 |
| 3/31/2017 | 0.407403728 | 0.270726342 | 0.306784857 |
| 4/30/2017 | 0.493813202 | 0.220173076 | 0.267898823 |
| 5/31/2017 | 0.501821284 | 0.216979054 | 0.262517226 |
| 6/30/2017 | 0.461364576 | 0.211097361 | 0.311201482 |
| 7/31/2017 | 0.404805251 | 0.297608872 | 0.29391778 |
| 8/31/2017 | 0.444303877 | 0.215817846 | 0.336857716 |
| 9/30/2017 | 0.469902506 | 0.21481619 | 0.308513573 |
| 10/31/2017 | 0.522963011 | 0.241748425 | 0.227912335 |
| 11/30/2017 | 0.536411504 | 0.227120049 | 0.227309694 |
| 12/31/2017 | 0.454211076 | 0.282491734 | 0.248784673 |
| 1/31/2018 | 0.487070428 | 0.209037949 | 0.297840662 |
| 2/28/2018 | 0.533487089 | 0.301043413 | 0.158279238 |
| 3/31/2018 | 0.478636538 | 0.270050123 | 0.244111662 |
| 4/30/2018 | 0.39753842 | 0.291796838 | 0.300429824 |
| 5/31/2018 | 0.456146842 | 0.275712522 | 0.258626565 |
| 6/30/2018 | 0.567715037 | 0.226400313 | 0.198052658 |
| 7/31/2018 | 0.511723837 | 0.279233571 | 0.205434812 |
| 8/31/2018 | 0.455948902 | 0.346236491 | 0.195285735 |
| 9/30/2018 | 0.397118211 | 0.238954923 | 0.356936322 |
| 10/31/2018 | 0.492364436 | 0.275101239 | 0.219497687 |
| 11/30/2018 | 0.363016668 | 0.407128376 | 0.22008373 |
| 12/31/2018 | 0.372097938 | 0.39554456 | 0.215168227 |
| 1/31/2019 | 0.342214924 | 0.379302553 | 0.266899961 |
| 2/28/2019 | 0.373285282 | 0.301524079 | 0.310353273 |
| 3/31/2019 | 0.428389182 | 0.308051648 | 0.256838944 |
| 4/30/2019 | 0.438595511 | 0.304066856 | 0.247339695 |
| 5/31/2019 | 0.415792399 | 0.325513088 | 0.24572944 |
| 6/30/2019 | 0.424793922 | 0.224852099 | 0.342818059 |
| 7/31/2019 | 0.530011271 | 0.162511894 | 0.301543198 |
| 8/31/2019 | 0.526140217 | 0.231522196 | 0.236664984 |
| 9/30/2019 | 0.663830108 | 0.135900963 | 0.196942012 |
| 10/31/2019 | 0.607405977 | 0.18334445 | 0.199283918 |
| 11/30/2019 | 0.490885814 | 0.278638855 | 0.2207045 |
| 12/31/2019 | 0.498437944 | 0.248795935 | 0.23235475 |
| 1/31/2020 | 0.494232262 | 0.297849287 | 0.188158659 |
| 2/29/2020 | 0.497516473 | 0.276939339 | 0.209891669 |
| 3/31/2020 | 0.403035207 | 0.324083213 | 0.268758922 |
| 4/30/2020 | 0.735984901 | 0.115919704 | 0.13940175 |
| 5/31/2020 | 0.666108488 | 0.169816361 | 0.147938562 |
| 6/30/2020 | 0.613237415 | 0.214125751 | 0.163275488 |
| 7/31/2020 | 0.635804995 | 0.231778494 | 0.125721422 |
| 8/31/2020 | 0.634579201 | 0.196824848 | 0.162613188 |
| 9/30/2020 | 0.688425286 | 0.167590472 | 0.141802653 |
| 10/31/2020 | 0.652234099 | 0.164258533 | 0.180817388 |
| 11/30/2020 | 0.641590502 | 0.177692888 | 0.173083357 |
| 12/31/2020 | 0.659536105 | 0.140460735 | 0.186611371 |
| 1/31/2021 | 0.710294013 | 0.107253637 | 0.16825203 |
| 2/28/2021 | 0.660372364 | 0.219260412 | 0.111670361 |
| 3/31/2021 | 0.677740478 | 0.176560854 | 0.14023951 |
| 4/30/2021 | 0.337354509 | 0.236232081 | 0.409737001 |
| 5/31/2021 | 0.334977281 | 0.125561217 | 0.527140865 |
| 6/30/2021 | 0.301082575 | 0.210373694 | 0.482662817 |
| 7/31/2021 | 0.315246003 | 0.296976148 | 0.378907955 |
| 8/31/2021 | 0.474781304 | 0.187682616 | 0.334352913 |
| 9/30/2021 | 0.521450745 | 0.062476864 | 0.413931102 |
| 10/31/2021 | 0.365636801 | 0.230854258 | 0.39945358 |
| 11/30/2021 | 0.382222995 | 0.259015741 | 0.356024682 |
| 12/31/2021 | 0.408521131 | 0.236783903 | 0.344012842 |
| 1/31/2022 | 0.359534721 | 0.342073868 | 0.288227176 |
| 2/28/2022 | 0.420703352 | 0.227017673 | 0.343727003 |
| 3/31/2022 | 0.515797227 | 0.198865429 | 0.27912506 |
| 4/30/2022 | 0.523267317 | 0.169603576 | 0.293037298 |
| 5/31/2022 | 0.566007682 | 0.256448259 | 0.167218135 |
| 6/30/2022 | 0.523139086 | 0.074294298 | 0.398716067 |
| 7/31/2022 | 0.441779506 | 0.260951014 | 0.286642438 |
| 8/31/2022 | 0.433303453 | 0.267458843 | 0.295050421 |
| 9/30/2022 | 0.401424528 | 0.296112752 | 0.298919413 |
| 10/31/2022 | 0.468104843 | 0.302066714 | 0.225774562 |
| 11/30/2022 | 0.523781418 | 0.274667823 | 0.197571526 |
| 12/31/2022 | 0.509054704 | 0.195327952 | 0.286514928 |
| 1/31/2023 | 0.451675558 | 0.211678574 | 0.332093868 |
| 2/28/2023 | 0.341468122 | 0.299699475 | 0.350602981 |
| 3/31/2023 | 0.308979034 | 0.378450757 | 0.304514191 |
| 4/30/2023 | 0.507187464 | 0.231061739 | 0.256042061 |
| 5/31/2023 | 0.494975598 | 0.338466322 | 0.160605301 |
| 6/30/2023 | 0.586182908 | 0.112828392 | 0.296769628 |
| 7/31/2023 | 0.709425848 | 0.178529261 | 0.106411673 |
| 8/31/2023 | 0.68102364 | 0.115697838 | 0.197768319 |
| 9/30/2023 | 0.633448208 | 0.126833676 | 0.229999204 |
| 10/31/2023 | 0.650929783 | 0.14189339 | 0.20213794 |
| 11/30/2023 | 0.643530216 | 0.175065702 | 0.171843456 |
| 12/31/2023 | 0.471034053 | 0.303305928 | 0.217068202 |
| 1/31/2024 | 0.575589013 | 0.196739897 | 0.221316914 |
| 2/29/2024 | 0.589559591 | 0.255981814 | 0.139234622 |
| 3/31/2024 | 0.577012932 | 0.267965052 | 0.143143764 |
| 4/30/2024 | 0.570097247 | 0.215549824 | 0.207645679 |
| 5/31/2024 | 0.562773357 | 0.267125307 | 0.162789402 |
| 6/30/2024 | 0.651935899 | 0.165261676 | 0.174340571 |
| 7/31/2024 | 0.702150503 | 0.15120383 | 0.136871485 |
| 8/31/2024 | 0.647845974 | 0.259489684 | 0.08470603 |
| 9/30/2024 | 0.755548585 | 0.070590108 | 0.146717204 |
| 10/31/2024 | 0.615483041 | 0.224022014 | 0.138286601 |
| 11/30/2024 | 0.609877016 | 0.229592819 | 0.146619618 |
| 12/31/2024 | 0.65093628 | 0.141459937 | 0.201049181 |
| 1/31/2025 | 0.644846423 | 0.163275653 | 0.186363551 |
| 2/28/2025 | 0.726168498 | 0.110328629 | 0.151669753 |
| 3/31/2025 | 0.635319445 | 0.130259458 | 0.22731909 |
| 4/30/2025 | 0.637684694 | 0.203866493 | 0.151883038 |
| 5/31/2025 | 0.583700661 | 0.174639058 | 0.234367895 |
| 6/30/2025 | 0.610006539 | 0.186371185 | 0.193513819 |
| 7/31/2025 | 0.552761658 | 0.182236282 | 0.256376022 |
| 8/31/2025 | 0.576061261 | 0.120750363 | 0.290448753 |
| 9/30/2025 | 0.527854132 | 0.212126328 | 0.234357957 |
| 10/31/2025 | 0.409495761 | 0.292790616 | 0.272452667 |
| 11/30/2025 | 0.433022527 | 0.206995161 | 0.350501896 |
Note: Diffusion indices are constructed from data on weekly average earnings of 106 goods industries and 184 services industries for the U.S. and 70 goods industries and 143 services industries for Canada. Industries are at the 4-digit NAICS level and are weighted by their employment share. Data extend through December 2025 for the U.S. and November 2025 for Canada.
Source: Haver Analytics; Federal Reserve Board staff calculations.
Return to text
Figure 7: Diffusion Indexes for 12-month Wage Growth Rising More than 3 Percent
United States
| Weighted share of industries | Goods | Services |
|---|---|---|
| 2014 to 2019 average | 41.908 | 48.69191 |
| Current average | 66.15974 | 64.827772 |
Canada
| Weighted share of industries | Goods | Services |
|---|---|---|
| 2014 to 2019 average | 40.95328 | 42.25967 |
| Current average | 49.24241 | 50.61854 |
Note: Diffusion indices are constructed from 213 industries for the U.S. and 290 industries for Canada. Industries are weighted by their employment share. Current average extends from July 2025 to December 2025 for the U.S. and June 2025 to November 2025 for Canada.
Source: Haver Analytics; Federal Reserve Board staff calculations
Return to text
Figure 1A: Diffusion Indexes for 12-month Core Inflation in Selected Advanced Economies
Top Left
United States
Weighted share of CPI basket (12-month growth)
| Period | DI, >3% | DI, 0 - 3 % | DI, <0% |
|---|---|---|---|
| 1/15/2014 | 14.3657519 | 73.56357488 | 12.07067322 |
| 2/15/2014 | 15.16982642 | 64.4480016 | 20.38217198 |
| 3/15/2014 | 16.63914988 | 61.48650677 | 21.87434335 |
| 4/15/2014 | 21.36782069 | 63.69021413 | 14.94196518 |
| 5/15/2014 | 26.41146985 | 60.701958 | 12.88657215 |
| 6/15/2014 | 26.32142393 | 57.77246396 | 15.90611212 |
| 7/15/2014 | 25.5255706 | 61.71864838 | 12.75578103 |
| 8/15/2014 | 24.37294274 | 56.94690398 | 18.68015328 |
| 9/15/2014 | 21.69571569 | 56.18133792 | 22.12294639 |
| 10/15/2014 | 25.51856633 | 52.70314892 | 21.77828475 |
| 11/15/2014 | 25.44945225 | 53.85223351 | 20.69831424 |
| 12/15/2014 | 30.57537042 | 49.68435165 | 19.74027793 |
| 1/15/2015 | 27.82558233 | 52.04114304 | 20.13327463 |
| 2/15/2015 | 28.29367382 | 52.25648928 | 19.44983689 |
| 3/15/2015 | 24.81164641 | 55.0572815 | 20.13107209 |
| 4/15/2015 | 27.26745117 | 52.49459654 | 20.23795229 |
| 5/15/2015 | 23.9192651 | 52.50370252 | 23.57703238 |
| 6/15/2015 | 24.20552331 | 49.34160496 | 26.45287172 |
| 7/15/2015 | 23.2306553 | 51.06781154 | 25.70153317 |
| 8/15/2015 | 48.68502692 | 24.88441447 | 26.43055861 |
| 9/15/2015 | 49.97948585 | 24.69904234 | 25.32147182 |
| 10/15/2015 | 45.59391574 | 28.66906835 | 25.73701591 |
| 11/15/2015 | 47.35067196 | 28.52167996 | 24.12764808 |
| 12/15/2015 | 45.5066194 | 34.62116205 | 19.87221855 |
| 1/15/2016 | 46.2770112 | 33.0793263 | 20.64366251 |
| 2/15/2016 | 51.90177659 | 28.04194123 | 20.05628217 |
| 3/15/2016 | 48.98110411 | 28.22466779 | 22.79422809 |
| 4/15/2016 | 48.98459875 | 28.43824478 | 22.57715648 |
| 5/15/2016 | 50.01051504 | 22.61634137 | 27.3731436 |
| 6/15/2016 | 48.58848153 | 24.42392621 | 26.98759226 |
| 7/15/2016 | 47.51694924 | 24.82950619 | 27.65354457 |
| 8/15/2016 | 47.7703562 | 28.27386615 | 23.95577765 |
| 9/15/2016 | 47.92841334 | 26.98821244 | 25.08337423 |
| 10/15/2016 | 49.30150115 | 27.60948156 | 23.08901729 |
| 11/15/2016 | 49.38464466 | 30.74373379 | 19.87162155 |
| 12/15/2016 | 53.29307738 | 27.83168604 | 18.87523658 |
| 1/15/2017 | 53.94160949 | 27.23621614 | 18.82217437 |
| 2/15/2017 | 54.25721553 | 25.18076392 | 20.56202055 |
| 3/15/2017 | 53.93359708 | 26.26571185 | 19.80069107 |
| 4/15/2017 | 51.2479218 | 29.12585381 | 19.62622439 |
| 5/15/2017 | 49.76314234 | 32.45100101 | 17.78585664 |
| 6/15/2017 | 44.57208673 | 32.8008413 | 22.62707196 |
| 7/15/2017 | 48.2392885 | 28.55297158 | 23.20773992 |
| 8/15/2017 | 46.87653369 | 31.22464719 | 21.89881912 |
| 9/15/2017 | 47.00438676 | 31.08887687 | 21.90673637 |
| 10/15/2017 | 49.76964064 | 28.59761228 | 21.63274709 |
| 11/15/2017 | 49.1841702 | 27.88845819 | 22.92737162 |
| 12/15/2017 | 47.92642877 | 26.92438624 | 25.14918499 |
| 1/15/2018 | 47.71077582 | 28.98649393 | 23.30273025 |
| 2/15/2018 | 50.35390699 | 25.21299494 | 24.43309806 |
| 3/15/2018 | 47.56998678 | 33.08802916 | 19.34198406 |
| 4/15/2018 | 47.42269073 | 33.36536825 | 19.21194102 |
| 5/15/2018 | 49.82880827 | 28.86332693 | 21.30786481 |
| 6/15/2018 | 49.6756497 | 29.85824691 | 20.46610339 |
| 7/15/2018 | 49.54249675 | 36.92061267 | 13.53689058 |
| 8/15/2018 | 47.66128709 | 38.83504866 | 13.50366425 |
| 9/15/2018 | 47.5337131 | 36.88267743 | 15.58360948 |
| 10/15/2018 | 48.54525431 | 38.32699239 | 13.1277533 |
| 11/15/2018 | 52.48598318 | 34.00981177 | 13.50420505 |
| 12/15/2018 | 48.96931471 | 30.79841818 | 20.23226711 |
| 1/15/2019 | 45.77046686 | 38.5328541 | 15.69667905 |
| 2/15/2019 | 46.51276866 | 33.95333006 | 19.53390127 |
| 3/15/2019 | 47.53814425 | 34.40290737 | 18.05894838 |
| 4/15/2019 | 51.12076647 | 37.0228358 | 11.85639773 |
| 5/15/2019 | 43.39486646 | 36.70764426 | 19.89748929 |
| 6/15/2019 | 49.00194206 | 33.10909564 | 17.8889623 |
| 7/15/2019 | 49.26173959 | 33.64565502 | 17.09260538 |
| 8/15/2019 | 46.76578065 | 35.83320819 | 17.40101116 |
| 9/15/2019 | 44.92496822 | 39.48503869 | 15.58999309 |
| 10/15/2019 | 50.05205622 | 34.9937933 | 14.95415048 |
| 11/15/2019 | 48.9443282 | 31.24067715 | 19.81499464 |
| 12/15/2019 | 52.75728661 | 30.86637534 | 16.37633805 |
| 1/15/2020 | 50.12881302 | 33.36908688 | 16.5021001 |
| 2/15/2020 | 53.2546158 | 33.29891947 | 13.44646473 |
| 3/15/2020 | 49.51532223 | 31.75616749 | 18.72851028 |
| 4/15/2020 | 52.48378397 | 24.9140325 | 22.60218352 |
| 5/15/2020 | 54.00070179 | 20.33786155 | 25.66143666 |
| 6/15/2020 | 28.11680187 | 50.04439601 | 21.83880211 |
| 7/15/2020 | 30.05864368 | 48.99503784 | 20.94631848 |
| 8/15/2020 | 24.3248391 | 57.61372978 | 18.06143112 |
| 9/15/2020 | 24.14304449 | 62.70957329 | 13.14738223 |
| 10/15/2020 | 22.43678996 | 63.32909579 | 14.23411425 |
| 11/15/2020 | 22.65584789 | 61.7750058 | 15.56914631 |
| 12/15/2020 | 24.68115826 | 59.85301195 | 15.46582979 |
| 1/15/2021 | 26.33006889 | 57.61833201 | 16.05159911 |
| 2/15/2021 | 24.77986787 | 60.70906248 | 14.51106965 |
| 3/15/2021 | 31.88323936 | 53.88983589 | 14.22692475 |
| 4/15/2021 | 35.0627995 | 54.40403531 | 10.5331652 |
| 5/15/2021 | 40.2455758 | 50.24214541 | 9.51227879 |
| 6/15/2021 | 42.51102433 | 48.27193009 | 9.217045581 |
| 7/15/2021 | 42.03628219 | 52.58293648 | 5.380781338 |
| 8/15/2021 | 43.96509106 | 49.23472734 | 6.800181607 |
| 9/15/2021 | 46.5464708 | 48.28080229 | 5.172726906 |
| 10/15/2021 | 73.96230603 | 21.5035212 | 4.534172771 |
| 11/15/2021 | 80.28274185 | 15.05635665 | 4.660901505 |
| 12/15/2021 | 79.3100345 | 15.94820259 | 4.741762912 |
| 1/15/2022 | 82.63480355 | 15.60337733 | 1.761819124 |
| 2/15/2022 | 83.89066087 | 14.60699267 | 1.502346464 |
| 3/15/2022 | 86.35901155 | 11.60405774 | 2.036930702 |
| 4/15/2022 | 85.18145263 | 13.09119494 | 1.727352434 |
| 5/15/2022 | 85.93792173 | 11.40500825 | 2.657070025 |
| 6/15/2022 | 87.05275252 | 9.030619444 | 3.916628031 |
| 7/15/2022 | 86.76181549 | 9.365708123 | 3.872476389 |
| 8/15/2022 | 86.4444534 | 9.600459613 | 3.955086984 |
| 9/15/2022 | 85.58648608 | 7.938427708 | 6.475086211 |
| 10/15/2022 | 82.761882 | 13.34275648 | 3.895361527 |
| 11/15/2022 | 80.01954916 | 13.84967301 | 6.130777835 |
| 12/15/2022 | 78.22423266 | 12.58268867 | 9.193078671 |
| 1/15/2023 | 78.52325957 | 15.79308674 | 5.683653691 |
| 2/15/2023 | 76.64684563 | 12.78204598 | 10.5711084 |
| 3/15/2023 | 74.91293731 | 12.47798415 | 12.60907854 |
| 4/15/2023 | 74.3203082 | 12.04883174 | 13.63086006 |
| 5/15/2023 | 75.38500025 | 8.941812178 | 15.67318757 |
| 6/15/2023 | 76.44975033 | 9.297415216 | 14.25283446 |
| 7/15/2023 | 73.8832406 | 9.698595045 | 16.41816435 |
| 8/15/2023 | 62.92496744 | 21.31829518 | 15.75673738 |
| 9/15/2023 | 68.35980107 | 16.87230444 | 14.76789449 |
| 10/15/2023 | 63.25781083 | 17.84969428 | 18.89249489 |
| 11/15/2023 | 65.91920035 | 14.58628096 | 19.49451869 |
| 12/15/2023 | 65.08063548 | 14.11721157 | 20.80215295 |
| 1/15/2024 | 64.23199131 | 17.42247516 | 18.34553352 |
| 2/15/2024 | 63.19075492 | 15.76367002 | 21.04557507 |
| 3/15/2024 | 63.3795025 | 15.1784906 | 21.4420069 |
| 4/15/2024 | 63.71397971 | 15.56803945 | 20.71798084 |
| 5/15/2024 | 62.01877171 | 17.70513784 | 20.27609045 |
| 6/15/2024 | 61.77362987 | 16.28731362 | 21.93905651 |
| 7/15/2024 | 61.42403969 | 14.72741322 | 23.84854709 |
| 8/15/2024 | 58.62414259 | 18.57808041 | 22.797777 |
| 9/15/2024 | 59.89640953 | 18.79814945 | 21.30544101 |
| 10/15/2024 | 62.25600276 | 15.61582311 | 22.12817412 |
| 11/15/2024 | 62.77968582 | 17.05041966 | 20.16989453 |
| 12/15/2024 | 57.538634 | 20.62214749 | 21.83921851 |
| 1/15/2025 | 55.60915175 | 26.48949458 | 17.90135367 |
| 2/15/2025 | 59.04959223 | 21.29124646 | 19.65916131 |
| 3/15/2025 | 57.46755546 | 22.29392784 | 20.23851671 |
| 4/15/2025 | 60.2905471 | 24.78856426 | 14.92088864 |
| 5/15/2025 | 59.14434283 | 25.75267077 | 15.1029864 |
| 6/15/2025 | 61.98767693 | 22.73394106 | 15.27838202 |
| 7/15/2025 | 68.03000845 | 20.17325095 | 11.7967406 |
| 8/15/2025 | 68.00566001 | 16.93422781 | 15.06011218 |
| 9/15/2025 | 68.34774256 | 21.8120874 | 9.840170049 |
| 10/15/2025 | 61.57529189 | 23.92548875 | 14.49921936 |
| 11/15/2025 | 51.81169757 | 34.77073568 | 13.41756674 |
| 12/15/2025 | 53.84515446 | 32.14239314 | 14.0124524 |
| 1/15/2026 | 56.26807073 | 28.20707916 | 15.52485011 |
Top Right
Canada
Weighted share of CPI basket (12-month growth)
| Period | DI, >3% | DI, 0 - 3 % | DI, <0% |
|---|---|---|---|
| 1/15/2014 | 18.1511471 | 63.49527665 | 18.35357625 |
| 2/15/2014 | 20.29689609 | 54.02159244 | 25.68151147 |
| 3/15/2014 | 21.49797571 | 50.68825911 | 27.81376518 |
| 4/15/2014 | 22.29419703 | 55.60053981 | 22.10526316 |
| 5/15/2014 | 20.93117409 | 64.1025641 | 14.96626181 |
| 6/15/2014 | 23.52226721 | 60.72874494 | 15.74898785 |
| 7/15/2014 | 17.32793522 | 67.93522267 | 14.73684211 |
| 8/15/2014 | 22.34817814 | 63.44129555 | 14.21052632 |
| 9/15/2014 | 24.34547908 | 56.86909582 | 18.7854251 |
| 10/15/2014 | 23.94062078 | 60.01349528 | 16.04588394 |
| 11/15/2014 | 22.28070175 | 64.35897436 | 13.36032389 |
| 12/15/2014 | 18.74493927 | 66.26180837 | 14.99325236 |
| 1/15/2015 | 20.54429029 | 66.95570971 | 12.5 |
| 2/15/2015 | 24.6398079 | 51.61419424 | 23.74599787 |
| 3/15/2015 | 24.09284952 | 61.7796158 | 14.12753469 |
| 4/15/2015 | 20.45090715 | 65.95517609 | 13.59391676 |
| 5/15/2015 | 23.37246531 | 63.96744931 | 12.66008538 |
| 6/15/2015 | 24.33297759 | 61.61953042 | 14.047492 |
| 7/15/2015 | 26.17395945 | 63.40715048 | 10.41889007 |
| 8/15/2015 | 22.81216649 | 66.82230523 | 10.36552828 |
| 9/15/2015 | 19.15688367 | 68.5832444 | 12.25987193 |
| 10/15/2015 | 19.3303095 | 68.47652081 | 12.19316969 |
| 11/15/2015 | 19.58377801 | 65.72838847 | 14.68783351 |
| 12/15/2015 | 25.60032017 | 54.5624333 | 19.83724653 |
| 1/15/2016 | 28.30843116 | 46.47812166 | 25.21344717 |
| 2/15/2016 | 26.44076841 | 49.67982924 | 23.87940235 |
| 3/15/2016 | 26.04055496 | 51.12059765 | 22.83884739 |
| 4/15/2016 | 26.26734258 | 52.86819637 | 20.86446105 |
| 5/15/2016 | 24.37299893 | 64.3810032 | 11.24599787 |
| 6/15/2016 | 30.13607257 | 57.25720384 | 12.60672359 |
| 7/15/2016 | 30.14941302 | 52.97491996 | 16.87566702 |
| 8/15/2016 | 30.44290288 | 49.9733191 | 19.58377801 |
| 9/15/2016 | 28.30843116 | 55.08271078 | 16.60885806 |
| 10/15/2016 | 28.09498399 | 54.65581644 | 17.24919957 |
| 11/15/2016 | 29.00213447 | 51.01387407 | 19.98399146 |
| 12/15/2016 | 19.29028815 | 63.86072572 | 16.84898613 |
| 1/15/2017 | 36.68989089 | 49.45444985 | 13.85565926 |
| 2/15/2017 | 40.17352439 | 42.02708032 | 17.79939529 |
| 3/15/2017 | 25.92349152 | 54.12120415 | 19.95530432 |
| 4/15/2017 | 26.40988563 | 59.86591297 | 13.72420139 |
| 5/15/2017 | 20.99382148 | 63.9148153 | 15.09136322 |
| 6/15/2017 | 21.87458919 | 52.92493756 | 25.20047325 |
| 7/15/2017 | 18.77218352 | 65.05849875 | 16.16931773 |
| 8/15/2017 | 23.3600631 | 58.01235704 | 18.62757986 |
| 9/15/2017 | 19.77126331 | 63.11292231 | 17.11581438 |
| 10/15/2017 | 18.91678717 | 63.63875378 | 17.44445905 |
| 11/15/2017 | 29.07848035 | 59.27435257 | 11.64716708 |
| 12/15/2017 | 27.7376101 | 59.01143683 | 13.25095307 |
| 1/15/2018 | 18.10174839 | 65.71578809 | 16.18246352 |
| 2/15/2018 | 21.11213356 | 67.47732352 | 11.41054292 |
| 3/15/2018 | 19.07453661 | 67.63507296 | 13.29039043 |
| 4/15/2018 | 20.16563691 | 67.67451032 | 12.15985277 |
| 5/15/2018 | 20.07361641 | 69.22571316 | 10.70067044 |
| 6/15/2018 | 21.15157092 | 65.82095438 | 13.02747469 |
| 7/15/2018 | 25.13474431 | 62.02182201 | 12.84343368 |
| 8/15/2018 | 24.89812015 | 62.92888129 | 12.17299855 |
| 9/15/2018 | 25.91034573 | 61.49599054 | 12.59366373 |
| 10/15/2018 | 27.42211121 | 59.22176942 | 13.35611936 |
| 11/15/2018 | 25.94978309 | 58.82739582 | 15.22282109 |
| 12/15/2018 | 30.97147364 | 55.94846852 | 13.08005784 |
| 1/15/2019 | 25.3953611 | 60.76700053 | 13.83763838 |
| 2/15/2019 | 22.64101212 | 58.6056932 | 18.75329468 |
| 3/15/2019 | 20.62467053 | 67.27727992 | 12.09804955 |
| 4/15/2019 | 27.70163416 | 58.17079599 | 14.12756985 |
| 5/15/2019 | 39.7469689 | 51.88455456 | 8.368476542 |
| 6/15/2019 | 30.45598313 | 53.37374802 | 16.17026885 |
| 7/15/2019 | 26.84501845 | 55.7459146 | 17.40906695 |
| 8/15/2019 | 34.89720611 | 49.56510279 | 15.53769109 |
| 9/15/2019 | 34.71270427 | 44.49130206 | 20.79599367 |
| 10/15/2019 | 33.82973115 | 42.75171323 | 23.41855561 |
| 11/15/2019 | 31.66842383 | 55.23194518 | 13.099631 |
| 12/15/2019 | 31.89246178 | 47.61465472 | 20.4928835 |
| 1/15/2020 | 24.01159726 | 61.92672641 | 14.06167633 |
| 2/15/2020 | 24.27517132 | 62.54612546 | 13.17870322 |
| 3/15/2020 | 21.04638904 | 63.9298893 | 15.02372167 |
| 4/15/2020 | 22.00843437 | 58.67158672 | 19.31997891 |
| 5/15/2020 | 22.23247232 | 57.09014233 | 20.67738535 |
| 6/15/2020 | 16.93463363 | 63.45545598 | 19.60991038 |
| 7/15/2020 | 23.55034265 | 56.72113864 | 19.72851871 |
| 8/15/2020 | 14.97100685 | 65.36636795 | 19.6626252 |
| 9/15/2020 | 14.14074855 | 67.17185029 | 18.68740116 |
| 10/15/2020 | 24.44649446 | 53.71639431 | 21.83711123 |
| 11/15/2020 | 24.94728519 | 52.25355825 | 22.79915656 |
| 12/15/2020 | 26.25197681 | 51.92409067 | 21.82393253 |
| 1/15/2021 | 23.04955192 | 54.1117554 | 22.83869267 |
| 2/15/2021 | 23.56352135 | 54.01950448 | 22.41697417 |
| 3/15/2021 | 35.33210332 | 43.75329468 | 20.914602 |
| 4/15/2021 | 38.28413284 | 42.84396415 | 18.871903 |
| 5/15/2021 | 45.0975224 | 33.96151819 | 20.94095941 |
| 6/15/2021 | 45.54925491 | 35.7905842 | 18.66016089 |
| 7/15/2021 | 47.51417645 | 37.68956877 | 14.79625478 |
| 8/15/2021 | 50.21759198 | 32.03217724 | 17.75023078 |
| 9/15/2021 | 46.39324805 | 36.55545299 | 17.05129896 |
| 10/15/2021 | 49.38678623 | 32.94210735 | 17.67110642 |
| 11/15/2021 | 51.97151523 | 30.02769352 | 18.00079124 |
| 12/15/2021 | 51.2857708 | 34.02347356 | 14.69075564 |
| 1/15/2022 | 61.32137676 | 23.56587103 | 15.11275221 |
| 2/15/2022 | 60.92575498 | 24.22524067 | 14.84900435 |
| 3/15/2022 | 59.13226955 | 24.02742978 | 16.84030067 |
| 4/15/2022 | 64.88197283 | 16.15455624 | 18.96347092 |
| 5/15/2022 | 70.58979809 | 17.91976621 | 11.49043571 |
| 6/15/2022 | 71.94473964 | 16.77736451 | 11.27789586 |
| 7/15/2022 | 74.09670563 | 18.9293305 | 6.973963868 |
| 8/15/2022 | 79.6360255 | 13.72210414 | 6.641870351 |
| 9/15/2022 | 80.32678002 | 11.92879915 | 7.744420829 |
| 10/15/2022 | 83.40860786 | 7.903825717 | 8.687566419 |
| 11/15/2022 | 84.51115834 | 8.461742827 | 7.027098831 |
| 12/15/2022 | 77.16524973 | 16.61795962 | 6.216790648 |
| 1/15/2023 | 76.71360255 | 12.11477152 | 11.17162593 |
| 2/15/2023 | 77.77630181 | 13.39001063 | 8.833687566 |
| 3/15/2023 | 67.48140276 | 17.4946865 | 15.02391073 |
| 4/15/2023 | 63.88150903 | 22.25026567 | 13.86822529 |
| 5/15/2023 | 64.26390548 | 15.04048852 | 20.695606 |
| 6/15/2023 | 57.42731979 | 19.03624054 | 23.53643967 |
| 7/15/2023 | 50.17921147 | 24.41258463 | 25.4082039 |
| 8/15/2023 | 55.44935617 | 21.50537634 | 23.04526749 |
| 9/15/2023 | 51.04208151 | 30.22700119 | 18.7309173 |
| 10/15/2023 | 52.3828488 | 26.4701978 | 21.14695341 |
| 11/15/2023 | 52.8341962 | 26.82862074 | 20.33718306 |
| 12/15/2023 | 50.78985796 | 30.06770211 | 19.14243993 |
| 1/15/2024 | 49.39599097 | 29.47033055 | 21.13367848 |
| 2/15/2024 | 46.86048055 | 30.50577459 | 22.63374486 |
| 3/15/2024 | 44.23204567 | 30.10752688 | 25.66042745 |
| 4/15/2024 | 42.41338112 | 31.129696 | 26.45692287 |
| 5/15/2024 | 44.63857029 | 31.24833289 | 24.11309683 |
| 6/15/2024 | 40.19738597 | 25.55348093 | 34.2491331 |
| 7/15/2024 | 38.03680982 | 24.0197386 | 37.94345159 |
| 8/15/2024 | 37.94345159 | 24.52654041 | 37.530008 |
| 9/15/2024 | 40.31741798 | 24.19311816 | 35.48946386 |
| 10/15/2024 | 39.05041344 | 24.5398773 | 36.40970926 |
| 11/15/2024 | 39.22379301 | 23.57962123 | 37.19658576 |
| 12/15/2024 | 38.50360096 | 25.91357695 | 35.58282209 |
| 1/15/2025 | 40.75753534 | 36.99653241 | 22.24593225 |
| 2/15/2025 | 44.83862363 | 32.32862097 | 22.8327554 |
| 3/15/2025 | 44.54521206 | 39.94398506 | 15.51080288 |
| 4/15/2025 | 49.63990397 | 34.382502 | 15.97759403 |
| 5/15/2025 | 52.94504339 | 27.18906127 | 19.86589535 |
| 6/15/2025 | 53.93110702 | 30.23928478 | 15.8296082 |
| 7/15/2025 | 56.88929792 | 23.67867473 | 19.43202735 |
| 8/15/2025 | 54.0888772 | 26.63686563 | 19.27425717 |
| 9/15/2025 | 53.5629766 | 27.7412569 | 18.6957665 |
| 10/15/2025 | 47.01551407 | 31.31738101 | 21.66710492 |
| 11/15/2025 | 49.27688667 | 30.29187484 | 20.4312385 |
| 12/15/2025 | 47.52826716 | 30.68630029 | 21.78543255 |
| 1/15/2026 | 38.61425191 | 39.88956087 | 21.49618722 |
Bottom Left
United Kingdom
Weighted share of CPI basket (12-month growth)
| Period | DI, >3% | DI, 0 - 3 % | DI, <0% |
|---|---|---|---|
| 1/15/2014 | 8.125819135 | 71.95281782 | 19.92136304 |
| 2/15/2014 | 10.22280472 | 68.15203145 | 21.62516383 |
| 3/15/2014 | 8.256880734 | 75.6225426 | 16.12057667 |
| 4/15/2014 | 15.46526868 | 69.72477064 | 14.80996068 |
| 5/15/2014 | 6.946264744 | 65.66186107 | 27.39187418 |
| 6/15/2014 | 15.59633028 | 71.29750983 | 13.1061599 |
| 7/15/2014 | 17.56225426 | 62.7785059 | 19.65923984 |
| 8/15/2014 | 14.80996068 | 67.75884666 | 17.43119266 |
| 9/15/2014 | 16.38269987 | 66.31716907 | 17.30013106 |
| 10/15/2014 | 13.76146789 | 59.37090433 | 26.86762779 |
| 11/15/2014 | 13.89252949 | 55.83224115 | 30.27522936 |
| 12/15/2014 | 16.64482307 | 54.25950197 | 29.09567497 |
| 1/15/2015 | 15.17509728 | 64.85084306 | 19.97405966 |
| 2/15/2015 | 15.56420233 | 60.95979248 | 23.47600519 |
| 3/15/2015 | 15.04539559 | 54.60440986 | 30.35019455 |
| 4/15/2015 | 10.89494163 | 54.2153048 | 34.88975357 |
| 5/15/2015 | 15.95330739 | 60.31128405 | 23.73540856 |
| 6/15/2015 | 15.56420233 | 53.307393 | 31.12840467 |
| 7/15/2015 | 15.04539559 | 60.95979248 | 23.99481193 |
| 8/15/2015 | 13.35927367 | 62.25680934 | 24.38391699 |
| 9/15/2015 | 12.71076524 | 57.45784695 | 29.83138781 |
| 10/15/2015 | 13.61867704 | 64.72114137 | 21.66018158 |
| 11/15/2015 | 23.47600519 | 55.77172503 | 20.75226978 |
| 12/15/2015 | 15.17509728 | 56.29053178 | 28.53437095 |
| 1/15/2016 | 12.18274112 | 71.06598985 | 16.75126904 |
| 2/15/2016 | 11.16751269 | 69.79695431 | 19.03553299 |
| 3/15/2016 | 12.69035533 | 71.44670051 | 15.86294416 |
| 4/15/2016 | 16.37055838 | 65.60913706 | 18.02030457 |
| 5/15/2016 | 16.87817259 | 58.12182741 | 25 |
| 6/15/2016 | 23.35025381 | 46.95431472 | 29.69543147 |
| 7/15/2016 | 22.71573604 | 39.34010152 | 37.94416244 |
| 8/15/2016 | 20.93908629 | 47.84263959 | 31.21827411 |
| 9/15/2016 | 23.73096447 | 53.42639594 | 22.84263959 |
| 10/15/2016 | 22.58883249 | 42.25888325 | 35.15228426 |
| 11/15/2016 | 17.1319797 | 59.01015228 | 23.85786802 |
| 12/15/2016 | 18.78172589 | 61.6751269 | 19.54314721 |
| 1/15/2017 | 20.95959596 | 55.17676768 | 23.86363636 |
| 2/15/2017 | 24.01524778 | 54.0025413 | 21.98221093 |
| 3/15/2017 | 20.7115629 | 60.48284625 | 18.80559085 |
| 4/15/2017 | 30.87674714 | 54.51080051 | 14.61245235 |
| 5/15/2017 | 34.94282084 | 53.11308767 | 11.94409149 |
| 6/15/2017 | 34.30749682 | 51.46124524 | 14.23125794 |
| 7/15/2017 | 36.59466328 | 47.39517154 | 16.01016518 |
| 8/15/2017 | 35.45108005 | 51.58831004 | 12.96060991 |
| 9/15/2017 | 44.47268107 | 45.23506989 | 10.29224905 |
| 10/15/2017 | 49.8094028 | 41.6772554 | 8.513341804 |
| 11/15/2017 | 50.82592122 | 41.04193139 | 8.132147395 |
| 12/15/2017 | 48.41168996 | 42.82083863 | 8.76747141 |
| 1/15/2018 | 53.52644836 | 36.77581864 | 9.697732997 |
| 2/15/2018 | 45.32828283 | 40.15151515 | 14.52020202 |
| 3/15/2018 | 28.28282828 | 59.5959596 | 12.12121212 |
| 4/15/2018 | 31.31313131 | 58.33333333 | 10.35353535 |
| 5/15/2018 | 27.77777778 | 59.97474747 | 12.24747475 |
| 6/15/2018 | 29.41919192 | 56.94444444 | 13.63636364 |
| 7/15/2018 | 35.35353535 | 44.57070707 | 20.07575758 |
| 8/15/2018 | 35.22727273 | 50.25252525 | 14.52020202 |
| 9/15/2018 | 31.94444444 | 49.49494949 | 18.56060606 |
| 10/15/2018 | 30.80808081 | 49.11616162 | 20.07575758 |
| 11/15/2018 | 27.02020202 | 60.98484848 | 11.99494949 |
| 12/15/2018 | 29.7979798 | 52.02020202 | 18.18181818 |
| 1/15/2019 | 27.72898369 | 58.09284818 | 14.17816813 |
| 2/15/2019 | 29.16145181 | 56.57071339 | 14.26783479 |
| 3/15/2019 | 27.53441802 | 58.19774718 | 14.26783479 |
| 4/15/2019 | 28.0350438 | 47.43429287 | 24.53066333 |
| 5/15/2019 | 28.66082603 | 52.44055069 | 18.89862328 |
| 6/15/2019 | 28.0350438 | 58.94868586 | 13.01627034 |
| 7/15/2019 | 32.91614518 | 57.07133917 | 10.01251564 |
| 8/15/2019 | 20.77596996 | 67.20901126 | 12.01501877 |
| 9/15/2019 | 24.40550688 | 59.0738423 | 16.52065081 |
| 10/15/2019 | 23.40425532 | 64.70588235 | 11.88986233 |
| 11/15/2019 | 23.9048811 | 64.95619524 | 11.13892365 |
| 12/15/2019 | 20.90112641 | 56.82102628 | 22.27784731 |
| 1/15/2020 | 20.40050063 | 66.45807259 | 13.14142678 |
| 2/15/2020 | 29.86198243 | 53.57590966 | 16.5621079 |
| 3/15/2020 | 26.85069009 | 52.57214555 | 20.57716437 |
| 4/15/2020 | 31.99498118 | 48.93350063 | 19.07151819 |
| 5/15/2020 | 16.43663739 | 64.74278545 | 18.82057716 |
| 6/15/2020 | 21.07904642 | 61.48055207 | 17.44040151 |
| 7/15/2020 | 32.99874529 | 49.43538269 | 17.56587202 |
| 8/15/2020 | 23.08657465 | 46.29861982 | 30.61480552 |
| 9/15/2020 | 22.45922208 | 55.20702635 | 22.33375157 |
| 10/15/2020 | 16.5621079 | 63.98996236 | 19.44792974 |
| 11/15/2020 | 17.56587202 | 64.61731493 | 17.81681305 |
| 12/15/2020 | 17.06398996 | 59.59849435 | 23.33751568 |
| 1/15/2021 | 21.32822478 | 57.72669221 | 20.94508301 |
| 2/15/2021 | 22.40717029 | 51.60051216 | 25.99231754 |
| 3/15/2021 | 22.27912932 | 53.90524968 | 23.815621 |
| 4/15/2021 | 21.8950064 | 56.46606914 | 21.63892446 |
| 5/15/2021 | 33.41869398 | 55.31370038 | 11.26760563 |
| 6/15/2021 | 36.61971831 | 49.67989757 | 13.70038412 |
| 7/15/2021 | 23.94366197 | 62.61203585 | 13.44430218 |
| 8/15/2021 | 38.92445583 | 48.01536492 | 13.06017926 |
| 9/15/2021 | 38.41229193 | 51.85659411 | 9.731113956 |
| 10/15/2021 | 49.42381562 | 32.52240717 | 18.05377721 |
| 11/15/2021 | 60.9475032 | 31.37003841 | 7.682458387 |
| 12/15/2021 | 59.5390525 | 34.31498079 | 6.145966709 |
| 1/15/2022 | 66.23376623 | 27.14285714 | 6.623376623 |
| 2/15/2022 | 66.88396349 | 29.98696219 | 3.129074316 |
| 3/15/2022 | 67.14471969 | 29.726206 | 3.129074316 |
| 4/15/2022 | 71.83833116 | 24.25032595 | 3.911342894 |
| 5/15/2022 | 71.83833116 | 24.25032595 | 3.911342894 |
| 6/15/2022 | 83.57235984 | 12.77705346 | 3.650586701 |
| 7/15/2022 | 91.52542373 | 3.389830508 | 5.084745763 |
| 8/15/2022 | 85.52803129 | 10.16949153 | 4.302477184 |
| 9/15/2022 | 81.22555411 | 13.16818774 | 5.606258149 |
| 10/15/2022 | 88.65710561 | 4.43285528 | 6.910039113 |
| 11/15/2022 | 85.65840939 | 5.867014342 | 8.474576271 |
| 12/15/2022 | 83.31160365 | 8.213820078 | 8.474576271 |
| 1/15/2023 | 82.26018397 | 12.3521682 | 5.387647832 |
| 2/15/2023 | 83.13570487 | 10.40843215 | 6.455862978 |
| 3/15/2023 | 86.56126482 | 8.695652174 | 4.743083004 |
| 4/15/2023 | 86.69301713 | 12.91172596 | 0.395256917 |
| 5/15/2023 | 93.41238472 | 5.270092227 | 1.317523057 |
| 6/15/2023 | 93.67588933 | 5.006587615 | 1.317523057 |
| 7/15/2023 | 87.35177866 | 11.5942029 | 1.054018445 |
| 8/15/2023 | 86.0342556 | 10.01317523 | 3.95256917 |
| 9/15/2023 | 85.11198946 | 8.563899868 | 6.324110672 |
| 10/15/2023 | 83.13570487 | 12.12121212 | 4.743083004 |
| 11/15/2023 | 75.62582345 | 16.07378129 | 8.300395257 |
| 12/15/2023 | 79.31488801 | 12.12121212 | 8.563899868 |
| 1/15/2024 | 80.51519066 | 7.130357599 | 12.35445175 |
| 2/15/2024 | 78.511125 | 7.873910214 | 13.61496479 |
| 3/15/2024 | 76.91721814 | 8.715685832 | 14.36709603 |
| 4/15/2024 | 70.71362386 | 16.85087408 | 12.43550206 |
| 5/15/2024 | 68.03821098 | 15.08114517 | 16.88064385 |
| 6/15/2024 | 58.50790316 | 25.41593262 | 16.07616421 |
| 7/15/2024 | 64.01899595 | 19.76786025 | 16.2131438 |
| 8/15/2024 | 63.83486156 | 21.41517227 | 14.74996617 |
| 9/15/2024 | 57.78753923 | 25.60386878 | 16.60859199 |
| 10/15/2024 | 64.53974779 | 20.2798487 | 15.1804035 |
| 11/15/2024 | 65.42958032 | 18.86126128 | 15.70915839 |
| 12/15/2024 | 61.93954546 | 26.97929648 | 11.08115806 |
| 1/15/2025 | 60.82124495 | 28.98835454 | 10.19040051 |
| 2/15/2025 | 63.72169255 | 19.51776163 | 16.76054583 |
| 3/15/2025 | 65.48733047 | 21.61015264 | 12.90251688 |
| 4/15/2025 | 62.66207605 | 18.3670755 | 18.97084845 |
| 5/15/2025 | 61.71864351 | 20.15489331 | 18.12646318 |
| 6/15/2025 | 65.56172073 | 23.52899181 | 10.90928746 |
| 7/15/2025 | 62.29511716 | 30.21520963 | 7.489673208 |
| 8/15/2025 | 64.264998 | 26.94342314 | 8.791578861 |
| 9/15/2025 | 62.32396625 | 27.28428954 | 10.39174421 |
| 10/15/2025 | 63.30300601 | 27.49033632 | 9.206657674 |
| 11/15/2025 | 59.97778963 | 16.18873427 | 23.8334761 |
| 12/15/2025 | 59.46866863 | 22.16769845 | 18.36363292 |
| 1/15/2026 | 58.52163567 | 28.26633628 | 13.21202805 |
Bottom Right
Euro Area
Weighted share of CPI basket (12-month growth)
| Period | DI, >3% | DI, 0 - 3 % | DI, <0% |
|---|---|---|---|
| 1/15/2014 | 4.562604705 | 73.34401632 | 22.09337898 |
| 2/15/2014 | 3.369509797 | 81.4290917 | 15.2013985 |
| 3/15/2014 | 2.153106563 | 78.65977129 | 19.18712215 |
| 4/15/2014 | 5.811056887 | 77.45210868 | 16.73683444 |
| 5/15/2014 | 2.630927234 | 70.17262729 | 27.19644548 |
| 6/15/2014 | 2.976181805 | 72.75985141 | 24.26396679 |
| 7/15/2014 | 2.533323622 | 73.28720227 | 24.17947411 |
| 8/15/2014 | 2.450287712 | 81.16541627 | 16.38429602 |
| 9/15/2014 | 2.546434555 | 80.21705878 | 17.23650666 |
| 10/15/2014 | 3.102920825 | 72.08536674 | 24.81171243 |
| 11/15/2014 | 3.152451016 | 75.59181295 | 21.25573603 |
| 12/15/2014 | 3.183043193 | 78.73406657 | 18.08289023 |
| 1/15/2015 | 3.024895668 | 66.97798244 | 29.99712189 |
| 2/15/2015 | 2.216146208 | 71.56857102 | 26.21528277 |
| 3/15/2015 | 2.286659951 | 68.21700964 | 29.49633041 |
| 4/15/2015 | 4.668297597 | 71.27644265 | 24.05525975 |
| 5/15/2015 | 4.889912218 | 72.76298748 | 22.3471003 |
| 6/15/2015 | 3.744423658 | 72.48381062 | 23.77176572 |
| 7/15/2015 | 7.321916823 | 74.02216146 | 18.65592172 |
| 8/15/2015 | 6.291552741 | 70.09497769 | 23.61346956 |
| 9/15/2015 | 4.47402504 | 72.42480933 | 23.10116564 |
| 10/15/2015 | 7.346380774 | 78.97107497 | 13.68254425 |
| 11/15/2015 | 2.364368974 | 80.01726867 | 17.61836235 |
| 12/15/2015 | 1.748453015 | 74.67405382 | 23.57749316 |
| 1/15/2016 | 2.197755423 | 80.96508279 | 16.83716179 |
| 2/15/2016 | 2.895815894 | 77.95150466 | 19.15267945 |
| 3/15/2016 | 4.71616464 | 79.13480229 | 16.14903307 |
| 4/15/2016 | 2.196336601 | 80.75225947 | 17.05140392 |
| 5/15/2016 | 1.93101687 | 79.56754303 | 18.5014401 |
| 6/15/2016 | 1.874263986 | 81.8263078 | 16.29942821 |
| 7/15/2016 | 1.451455002 | 83.6565883 | 14.8919567 |
| 8/15/2016 | 1.736638243 | 73.01258495 | 25.25077681 |
| 9/15/2016 | 1.736638243 | 73.51910444 | 24.74425732 |
| 10/15/2016 | 2.65603496 | 79.45829372 | 17.88567132 |
| 11/15/2016 | 1.942367447 | 81.11405911 | 16.94357345 |
| 12/15/2016 | 2.48010102 | 84.1191243 | 13.40077468 |
| 1/15/2017 | 3.079971691 | 81.64048125 | 15.27954706 |
| 2/15/2017 | 3.705590941 | 71.57820241 | 24.71620665 |
| 3/15/2017 | 4.236376504 | 74.81104034 | 20.95258316 |
| 4/15/2017 | 8.225053079 | 74.17409766 | 17.60084926 |
| 5/15/2017 | 5.384288747 | 74.50530786 | 20.1104034 |
| 6/15/2017 | 7.231422505 | 74.89313517 | 17.87544232 |
| 7/15/2017 | 7.231422505 | 76.07643312 | 16.69214437 |
| 8/15/2017 | 7.564048125 | 74.13021939 | 18.30573248 |
| 9/15/2017 | 8.584571833 | 74.89313517 | 16.52229299 |
| 10/15/2017 | 5.246992215 | 70.81245577 | 23.94055202 |
| 11/15/2017 | 7.457891012 | 69.47204529 | 23.07006369 |
| 12/15/2017 | 2.328379335 | 80.60863411 | 17.06298655 |
| 1/15/2018 | 5.977050622 | 74.7868885 | 19.23606088 |
| 2/15/2018 | 3.436733189 | 85.81195126 | 10.75131555 |
| 3/15/2018 | 8.833666652 | 74.97411458 | 16.19221877 |
| 4/15/2018 | 2.397061118 | 78.34985745 | 19.25308143 |
| 5/15/2018 | 8.871962895 | 78.67324795 | 12.45478916 |
| 6/15/2018 | 6.230940527 | 81.36391359 | 12.40514588 |
| 7/15/2018 | 7.755698339 | 80.61359091 | 11.63071075 |
| 8/15/2018 | 7.504645192 | 71.93169085 | 20.56366396 |
| 9/15/2018 | 5.133114903 | 74.83227664 | 20.03460846 |
| 10/15/2018 | 4.710437854 | 84.9850361 | 10.30452605 |
| 11/15/2018 | 2.146007971 | 85.08999617 | 12.76399586 |
| 12/15/2018 | 2.107711729 | 86.83602116 | 11.05626711 |
| 1/15/2019 | 2.427996371 | 87.1300601 | 10.44194353 |
| 2/15/2019 | 2.610840231 | 85.99614469 | 11.39301508 |
| 3/15/2019 | 2.561231432 | 74.1849983 | 23.25377027 |
| 4/15/2019 | 8.518539517 | 80.41586348 | 11.06559701 |
| 5/15/2019 | 2.610840231 | 84.38881959 | 13.00034017 |
| 6/15/2019 | 5.261367502 | 85.1542125 | 9.584420002 |
| 7/15/2019 | 2.443587708 | 86.74027668 | 10.81613562 |
| 8/15/2019 | 3.835468874 | 86.64105908 | 9.523472049 |
| 9/15/2019 | 2.660449031 | 85.18397778 | 12.15557319 |
| 10/15/2019 | 2.75683184 | 86.35616283 | 10.88700533 |
| 11/15/2019 | 7.636920286 | 79.9665495 | 12.39653022 |
| 12/15/2019 | 6.84034471 | 83.92816646 | 9.231488831 |
| 1/15/2020 | 4.307714044 | 81.07516248 | 14.61712348 |
| 2/15/2020 | 4.307714044 | 87.47244984 | 8.219836112 |
| 3/15/2020 | 3.208533484 | 87.29584628 | 9.495620232 |
| 4/15/2020 | 3.084204578 | 75.69793727 | 21.21785815 |
| 5/15/2020 | 4.187623622 | 78.30884431 | 17.50353207 |
| 6/15/2020 | 4.732975417 | 74.14241311 | 21.12461147 |
| 7/15/2020 | 12.54874258 | 67.66459452 | 19.7866629 |
| 8/15/2020 | 4.604408025 | 65.13987002 | 30.25572196 |
| 9/15/2020 | 4.539417915 | 63.63520769 | 31.8253744 |
| 10/15/2020 | 4.631251766 | 61.11754733 | 34.2512009 |
| 11/15/2020 | 4.631251766 | 58.70302345 | 36.66572478 |
| 12/15/2020 | 4.865781294 | 59.61429782 | 35.51992088 |
| 1/15/2021 | 12.67969846 | 70.04149135 | 17.27881019 |
| 2/15/2021 | 8.681042543 | 70.48416316 | 20.8347943 |
| 3/15/2021 | 8.530563347 | 64.09391071 | 27.37552595 |
| 4/15/2021 | 10.36991585 | 64.74257831 | 24.88750584 |
| 5/15/2021 | 9.350163628 | 72.28991351 | 18.35992286 |
| 6/15/2021 | 7.839527817 | 74.95909303 | 17.20137915 |
| 7/15/2021 | 12.51460963 | 67.12687003 | 20.35852034 |
| 8/15/2021 | 27.92046517 | 63.44962599 | 8.629908836 |
| 9/15/2021 | 19.58567087 | 74.31626928 | 6.098059841 |
| 10/15/2021 | 24.01384993 | 72.91958859 | 3.066561477 |
| 11/15/2021 | 25.11103319 | 71.38996026 | 3.499006545 |
| 12/15/2021 | 27.57275596 | 68.53669939 | 3.890544647 |
| 1/15/2022 | 37.203959 | 51.5950866 | 11.2009544 |
| 2/15/2022 | 46.03953105 | 48.71862849 | 5.241840462 |
| 3/15/2022 | 46.2147991 | 48.21344409 | 5.571756805 |
| 4/15/2022 | 52.68940733 | 42.37952162 | 4.93107105 |
| 5/15/2022 | 54.05031224 | 41.35442441 | 4.595263344 |
| 6/15/2022 | 52.37274655 | 39.32043125 | 8.306822199 |
| 7/15/2022 | 53.41109933 | 33.14186403 | 13.44703664 |
| 8/15/2022 | 53.4390833 | 38.7592789 | 7.801637799 |
| 9/15/2022 | 60.36879934 | 32.44521032 | 7.185990338 |
| 10/15/2022 | 60.56910569 | 33.63379286 | 5.797101449 |
| 11/15/2022 | 61.8504772 | 33.15953812 | 4.989984682 |
| 12/15/2022 | 62.77394839 | 32.23606693 | 4.989984682 |
| 1/15/2023 | 74.92733604 | 21.76321621 | 3.309447754 |
| 2/15/2023 | 77.46122191 | 19.55883623 | 2.979941869 |
| 3/15/2023 | 79.14472359 | 17.27387838 | 3.581398026 |
| 4/15/2023 | 80.29439696 | 16.83070016 | 2.874902875 |
| 5/15/2023 | 80.09007453 | 16.15154393 | 3.758381536 |
| 6/15/2023 | 80.31166364 | 17.15013382 | 2.538202538 |
| 7/15/2023 | 79.7231575 | 16.88393911 | 3.392903393 |
| 8/15/2023 | 77.73748885 | 17.80482892 | 4.457682235 |
| 9/15/2023 | 70.10849233 | 25.52591441 | 4.365593254 |
| 10/15/2023 | 69.58185847 | 26.11873723 | 4.299404299 |
| 11/15/2023 | 61.65645055 | 31.52033152 | 6.823217934 |
| 12/15/2023 | 58.4952085 | 36.27874183 | 5.22604967 |
| 1/15/2024 | 53.88542096 | 39.45568558 | 6.658893455 |
| 2/15/2024 | 49.72059095 | 43.41149203 | 6.867917016 |
| 3/15/2024 | 48.65414421 | 44.03998464 | 7.305871145 |
| 4/15/2024 | 45.29270408 | 45.7007977 | 9.006498215 |
| 5/15/2024 | 47.94175779 | 38.01242766 | 14.04581455 |
| 6/15/2024 | 47.71851494 | 39.57228376 | 12.7092013 |
| 7/15/2024 | 55.72539707 | 31.53554112 | 12.73906181 |
| 8/15/2024 | 51.29040056 | 37.07395453 | 11.63564492 |
| 9/15/2024 | 45.66240562 | 40.90605315 | 13.43154123 |
| 10/15/2024 | 48.17068836 | 38.54707296 | 13.28223869 |
| 11/15/2024 | 52.73792427 | 33.69829511 | 13.56378062 |
| 12/15/2024 | 53.43751333 | 32.41002744 | 14.15245923 |
| 1/15/2025 | 44.8405544 | 38.49794355 | 16.66150206 |
| 2/15/2025 | 44.48842188 | 39.24023889 | 16.27133923 |
| 3/15/2025 | 44.751817 | 45.95892726 | 9.289255733 |
| 4/15/2025 | 47.34492084 | 44.7095611 | 7.945518057 |
| 5/15/2025 | 37.52605781 | 49.55631303 | 12.91762916 |
| 6/15/2025 | 40.99667587 | 46.13499352 | 12.86833061 |
| 7/15/2025 | 40.74314046 | 50.31973632 | 8.937123218 |
| 8/15/2025 | 39.42334779 | 50.73243563 | 9.844216576 |
| 9/15/2025 | 43.18553158 | 47.6195842 | 9.194884219 |
| 10/15/2025 | 43.52639585 | 49.28587526 | 7.187728886 |
| 11/15/2025 | 54.95943433 | 34.83153981 | 10.20902586 |
| 12/15/2025 | 53.67485492 | 34.0441715 | 12.28097358 |
| 1/15/2026 | 37.11783706 | 48.79155761 | 14.09060533 |
Note: Indexes constructed from 65 series for the U.S., 102 series for Canada, 65 series for the U.K., and 104 series for the euro area. Data extend through January 2026 for all counties. Missing U.S. CPI data for October 2025 were estimated through linear interpolation.
Source: Haver Analytics; Federal Reserve Board staff calculations.
Return to text
Figure 2A: Diffusion Indexes for 12-month Core Inflation, Selected Advanced Economies
Left
Above 3 Percent
Weighted share of CPI Basket
| Country | U.S. | Canada | Euro area | U.K. |
|---|---|---|---|---|
| 2014 to 2019 average | 42.22336126 | 25.03757133 | 4.197346196 | 23.75582112 |
| Current Average | 59.97560287 | 48.3477956 | 45.31456692 | 61.3100107 |
Middle
0 to 3 Percent
Weighted share of CPI Basket
| Country | U.S. | Canada | Euro area | U.K. |
|---|---|---|---|---|
| 2014 to 2019 average | 37.67065348 | 58.83645863 | 77.85273415 | 56.93370851 |
| Current Average | 26.29866866 | 31.09387326 | 44.21752734 | 24.72346967 |
Right
Below 0 Percent
Weighted share of CPI Basket
| Country | U.S. | Canada | Euro area | U.K. |
|---|---|---|---|---|
| 2014 to 2019 average | 20.10598526 | 16.12597003 | 17.59988267 | 19.31047037 |
| Current Average | 12.0177322 | 20.55833114 | 10.23076517 | 13.96651963 |
Note: Current average extends from August 2025 to January 2026 for all countries. Missing U.S. CPI data for October 2025 were estimated through linear interpolation.
Source: Haver Analytics; Federal Reserve Board staff calculations.
Return to text
Figure 3A: Residuals from Pre-Pandemic Headline Inflation Trend
Left
Below 0 percent
Percentage points
| Date | U.S. | Canada | U.K. | Euro area |
|---|---|---|---|---|
| 1/1/2014 | -1.147847021 | -0.738554859 | -0.64155646 | -0.247511567 |
| 2/1/2014 | -0.901317458 | -0.384123876 | -0.3718845 | -0.634130192 |
| 3/1/2014 | -0.389948767 | -0.182130179 | -1.056825172 | -0.351584365 |
| 4/1/2014 | -0.532415708 | 0.055480055 | -0.823911832 | -0.117854399 |
| 5/1/2014 | -0.531052915 | -0.111555678 | 0.002700831 | 0.334253878 |
| 6/1/2014 | -0.331832321 | -0.112297317 | -0.909011453 | 0.131280503 |
| 7/1/2014 | -0.676837419 | -0.359331439 | -0.397790763 | 0.010167148 |
| 8/1/2014 | -0.471221898 | -0.070768332 | -0.556522013 | -0.197844948 |
| 9/1/2014 | -0.223321544 | 0.028590962 | -0.699430308 | 0.073278305 |
| 10/1/2014 | -0.245891465 | -0.179487256 | 0.100372603 | 0.427865072 |
| 11/1/2014 | -0.678718992 | -0.325011453 | 0.065514645 | -0.107666807 |
| 12/1/2014 | -1.325166817 | -0.808531037 | -0.112561079 | -0.508025022 |
| 1/1/2015 | -2.1379512 | -1.508925578 | -0.850329913 | -0.133223949 |
| 2/1/2015 | -2.131220544 | -0.78171879 | -0.864847351 | -0.348132802 |
| 3/1/2015 | -2.122425546 | -1.146678095 | -0.263577309 | -0.053543935 |
| 4/1/2015 | -2.239315297 | -1.58737916 | -0.043790188 | -0.081548218 |
| 5/1/2015 | -1.798861478 | -1.540706849 | -0.879493043 | 0.162168675 |
| 6/1/2015 | -1.39325424 | -1.300469593 | -0.321811147 | 0.192585128 |
| 7/1/2015 | -1.410655046 | -1.238465247 | -0.655327799 | -0.175905118 |
| 8/1/2015 | -1.323823034 | -1.263936967 | -0.774653524 | 0.029708206 |
| 9/1/2015 | -1.648323706 | -1.362620547 | -0.567152133 | -0.222323164 |
| 10/1/2015 | -1.406665733 | -1.424998004 | -1.101041968 | -0.585152642 |
| 11/1/2015 | -1.21081572 | -0.868410879 | -0.945781666 | -0.627591886 |
| 12/1/2015 | -1.34104202 | -0.367882688 | -0.20298588 | -0.159238221 |
| 1/1/2016 | -0.632584431 | 0.062426402 | -1.179158809 | -0.659022494 |
| 2/1/2016 | -1.037279383 | -0.403551981 | -0.923403693 | -0.708355947 |
| 3/1/2016 | -0.972238656 | -0.511492634 | -1.104431169 | -0.968754255 |
| 4/1/2016 | -0.717923593 | -0.211933892 | -1.024561044 | -0.810463311 |
| 5/1/2016 | -0.42029356 | -0.803953547 | -0.475986298 | -0.590471357 |
| 6/1/2016 | -0.474720547 | -0.664560125 | -0.095633005 | -0.886113233 |
| 7/1/2016 | -0.588891115 | -0.690548048 | 0.677876777 | -0.866306007 |
| 8/1/2016 | -0.6641958 | -0.627609876 | 0.225193339 | -0.2175626 |
| 9/1/2016 | -0.16843806 | -0.44998627 | -0.354177186 | 0.014743148 |
| 10/1/2016 | -0.163990951 | -0.489795821 | 0.447932371 | -0.810359434 |
| 11/1/2016 | -0.378074861 | -0.359700956 | -0.165562468 | -0.808543522 |
| 12/1/2016 | -0.079801527 | -0.489313254 | -0.130874515 | -0.712379622 |
| 1/1/2017 | 0.341155183 | 0.033117055 | 0.286164608 | -0.009749135 |
| 2/1/2017 | 0.725419555 | 0.258663944 | 0.617521186 | 0.637089797 |
| 3/1/2017 | 0.304034042 | -0.076388802 | -0.365424383 | -0.062682616 |
| 4/1/2017 | 0.108436096 | -0.376823546 | -0.226055624 | 0.268540084 |
| 5/1/2017 | -0.371179914 | -0.652079438 | -0.402024999 | -0.432483606 |
| 6/1/2017 | -0.20534738 | -0.306236734 | -0.434981526 | -0.552657205 |
| 7/1/2017 | -0.062013577 | -0.866158748 | -0.345570107 | -0.533024171 |
| 8/1/2017 | 0.038881367 | -0.576178027 | -0.311660104 | -0.112650009 |
| 9/1/2017 | 0.333536985 | -0.60061572 | -0.44039353 | -0.42264717 |
| 10/1/2017 | 0.118655016 | -0.733018793 | -0.757898743 | -0.179084949 |
| 11/1/2017 | 0.389007524 | -0.392076543 | -0.695020677 | -0.094970252 |
| 12/1/2017 | 0.482396486 | -0.549727676 | -0.738976781 | -0.488737293 |
| 1/1/2018 | 0.288505767 | -0.500462475 | -0.599212598 | -0.482704592 |
| 2/1/2018 | 0.524875267 | -0.317248756 | -0.502309776 | -1.223635121 |
| 3/1/2018 | 0.244548543 | 0.10027991 | -0.970067669 | -0.584908148 |
| 4/1/2018 | 0.336642418 | -0.109527801 | -1.178569781 | -0.386161174 |
| 5/1/2018 | 0.851210323 | -0.048393272 | -0.978823774 | -0.333297664 |
| 6/1/2018 | 0.850941078 | 0.162896709 | -0.877480867 | -0.309891988 |
| 7/1/2018 | 0.346052623 | 0.559202043 | -0.25446528 | -0.20884355 |
| 8/1/2018 | 0.092922784 | 0.43825012 | -0.595950076 | 0.273989668 |
| 9/1/2018 | -0.154329041 | -0.283663282 | -0.347635344 | 0.361621509 |
| 10/1/2018 | -0.115407411 | -0.062528929 | -0.091714633 | -0.171564652 |
| 11/1/2018 | -0.429610799 | -0.518103582 | -0.532542327 | -0.247718765 |
| 12/1/2018 | -0.130117215 | -0.323092912 | -0.426224789 | -0.740329771 |
| 1/1/2019 | -0.870555169 | -0.799034596 | -0.824275151 | -0.523708822 |
| 2/1/2019 | -0.578884341 | -0.55550576 | -0.878524064 | -0.765245271 |
| 3/1/2019 | -0.360563587 | -0.691411825 | -0.821310944 | -0.051291891 |
| 4/1/2019 | -0.74837855 | -0.320557746 | 0.257926754 | -0.532448925 |
| 5/1/2019 | -0.278207671 | -0.393796976 | -0.585485476 | -0.918992401 |
| 6/1/2019 | -0.588900173 | -0.33575469 | -1.139159154 | -0.693605472 |
| 7/1/2019 | -0.492906156 | -0.232702735 | -1.234693554 | -0.657300315 |
| 8/1/2019 | -0.528649299 | -0.424275289 | -1.344770708 | -0.68749325 |
| 9/1/2019 | -0.71945976 | -0.238386348 | -1.004508409 | -0.690324485 |
| 10/1/2019 | -0.720205686 | -0.02744127 | -1.406256723 | -1.002532971 |
| 11/1/2019 | -0.024097254 | -0.551451652 | -1.528684887 | -0.650150684 |
| 12/1/2019 | -0.079490563 | -0.09363901 | -1.237881598 | -0.919066941 |
| 1/1/2020 | 0.132530218 | -0.249726694 | -1.488726587 | -0.190437606 |
| 2/1/2020 | -0.276195136 | -0.513649299 | -0.953246419 | -0.691993509 |
| 3/1/2020 | -0.627438656 | -1.302201155 | -0.742654622 | -0.834238026 |
| 4/1/2020 | -1.584861132 | -2.141416207 | -1.375716151 | -0.49180748 |
| 5/1/2020 | -1.465671201 | -2.19883133 | -1.804997393 | -0.987182543 |
| 6/1/2020 | -1.265349266 | -1.367716253 | -1.710049968 | -0.564246371 |
| 7/1/2020 | -1.059312438 | -1.797559694 | -1.282343805 | -0.231505749 |
| 8/1/2020 | -0.913232108 | -1.728484985 | -0.89370414 | -0.16724091 |
| 9/1/2020 | -1.264901378 | -1.456571606 | -1.138840984 | -0.132420507 |
| 10/1/2020 | -1.362748827 | -1.31095379 | -1.389300613 | -0.070045726 |
| 11/1/2020 | -1.257982031 | -0.621312664 | -1.582426937 | 0.076782622 |
| 12/1/2020 | -1.133263759 | -0.939221607 | -0.656816868 | -0.055072344 |
| 1/1/2021 | -0.99216621 | -0.502016233 | -0.743409885 | -0.47926959 |
| 2/1/2021 | -0.845303476 | -0.800728511 | -0.500689096 | -0.24965956 |
| 3/1/2021 | 0.074342764 | 0.11066615 | -0.606841768 | 0.210395361 |
| 4/1/2021 | 1.28532734 | 1.123986228 | -0.636112449 | 0.587032026 |
| 5/1/2021 | 2.050710965 | 1.493469483 | -0.349420696 | 0.469337701 |
| 6/1/2021 | 2.418425812 | 0.85798691 | 0.049813409 | 0.264349053 |
| 7/1/2021 | 2.068232683 | 1.22500094 | -0.273265001 | 0.277391833 |
| 8/1/2021 | 2.081145982 | 1.694788485 | 0.288247832 | 0.308434954 |
| 9/1/2021 | 2.083328763 | 1.815302828 | -0.206272053 | 0.548481973 |
| 10/1/2021 | 2.861136372 | 2.168735066 | 1.345028503 | 1.187448707 |
| 11/1/2021 | 3.458930186 | 2.189867431 | 1.342818063 | 1.886067538 |
| 12/1/2021 | 3.560908631 | 2.079839114 | 1.447796029 | 2.00526888 |
| 1/1/2022 | 3.88594142 | 2.435837014 | 1.545607477 | 2.618532857 |
| 2/1/2022 | 4.255307121 | 2.966730588 | 2.087191138 | 3.009989373 |
| 3/1/2022 | 4.901927297 | 4.047573999 | 2.858123458 | 4.595764908 |
| 4/1/2022 | 4.661799103 | 4.266224661 | 4.902348821 | 4.561066516 |
| 5/1/2022 | 4.998727331 | 4.817257596 | 4.974388479 | 5.143354032 |
| 6/1/2022 | 5.578155142 | 5.208344926 | 5.360488338 | 5.967733854 |
| 7/1/2022 | 5.038477206 | 4.434697747 | 6.077619906 | 6.505046272 |
| 8/1/2022 | 4.783050172 | 3.849902526 | 5.790218804 | 6.425654208 |
| 9/1/2022 | 4.86160235 | 3.754216585 | 6.11013833 | 7.186884752 |
| 10/1/2022 | 4.330960733 | 3.81087947 | 7.160556395 | 7.779339938 |
| 11/1/2022 | 3.811926519 | 3.638371722 | 6.894378192 | 7.165329521 |
| 12/1/2022 | 3.350951334 | 3.133979513 | 6.750739846 | 6.318169503 |
| 1/1/2023 | 3.084284028 | 3.107190399 | 6.047138579 | 5.65350451 |
| 2/1/2023 | 3.119840985 | 2.648286752 | 6.487595104 | 5.493806869 |
| 3/1/2023 | 2.161462623 | 1.923003034 | 6.30758671 | 4.359566749 |
| 4/1/2023 | 2.271381912 | 1.980225945 | 4.597162767 | 4.37499616 |
| 5/1/2023 | 1.561641016 | 1.312997993 | 4.685744577 | 3.587884273 |
| 6/1/2023 | 0.425937323 | 0.92820448 | 3.954746866 | 2.931327008 |
| 7/1/2023 | 0.741174984 | 1.481271493 | 2.813380859 | 3.243260337 |
| 8/1/2023 | 1.185183307 | 1.80111379 | 2.851052181 | 2.85759189 |
| 9/1/2023 | 1.124195877 | 1.345706111 | 3.016261481 | 1.982338938 |
| 10/1/2023 | 0.920271577 | 1.126581906 | 1.30408901 | 0.943500714 |
| 11/1/2023 | 1.034938408 | 1.131836677 | 0.900297432 | 0.598584658 |
| 12/1/2023 | 1.233554007 | 1.004741269 | 0.971470191 | 0.608689671 |
| 1/1/2024 | 0.808678824 | 0.874668906 | 1.160529156 | 0.910820318 |
| 2/1/2024 | 1.054895706 | 0.690725825 | 0.733656692 | 0.92793031 |
| 3/1/2024 | 1.450619963 | 0.984886574 | 0.728078522 | 0.56401682 |
| 4/1/2024 | 1.313324606 | 0.842142574 | -0.317845224 | 0.61888073 |
| 5/1/2024 | 1.232439225 | 0.869159714 | -0.626645332 | 0.940925192 |
| 6/1/2024 | 0.948847574 | 1.14842955 | -0.700290371 | 0.804549732 |
| 7/1/2024 | 1.15866312 | 1.45252192 | -0.384579933 | 0.563214768 |
| 8/1/2024 | 0.406818324 | 1.158955712 | -0.019370253 | 0.671188566 |
| 9/1/2024 | 0.398331424 | 0.665348068 | -0.54174834 | 0.368543799 |
| 10/1/2024 | 0.703514347 | 0.950166291 | -0.045801049 | 0.135256076 |
| 11/1/2024 | 0.699755196 | 0.881168871 | 0.144374106 | 0.393762845 |
| 12/1/2024 | 0.862812176 | 0.854783964 | -0.124509776 | 0.615604907 |
| 1/1/2025 | 0.764140592 | 0.323788975 | 0.005199475 | 0.628283222 |
| 2/1/2025 | 0.733065683 | 0.94591213 | 0.351687739 | 0.668531051 |
| 3/1/2025 | 0.313452468 | 0.040938803 | -0.22026284 | 0.063864811 |
| 4/1/2025 | -0.231920988 | -0.438535717 | 0.859590684 | 0.029875879 |
| 5/1/2025 | -0.116832655 | -0.316537603 | 0.59217709 | 0.022849856 |
| 6/1/2025 | 0.175727837 | -0.338892301 | 0.309176881 | 0.542785658 |
| 7/1/2025 | -0.04853022 | -0.30578856 | 0.307841093 | 0.332817459 |
| 8/1/2025 | 0.231733222 | -0.224038161 | 0.328209584 | 0.397012782 |
| 9/1/2025 | 0.094737634 | 0.215515157 | 0.476931778 | 0.345969807 |
| 10/1/2025 | 0.094497689 | 0.248065786 | -0.134755479 | 0.419699334 |
| 11/1/2025 | -0.171028693 | 0.196858585 | 0.667568559 | 0.27824976 |
| 12/1/2025 | -0.041394536 | 0.375701823 | 0.379736759 | 0.626011464 |
| 1/1/2026 | -0.083519964 | 0.34371576 | 0.00541627 | 0.153824393 |
Right
Above 3 percent
Percentage points
| Date | U.S. | Canada | U.K. | Euro area |
|---|---|---|---|---|
| 1/1/2014 | 0.082641887 | -0.195473321 | 1.334324556 | -0.156199991 |
| 2/1/2014 | -0.391281421 | -0.439977633 | 0.880641372 | -0.002265512 |
| 3/1/2014 | -0.044396324 | -0.067462756 | 0.780256369 | -0.268008615 |
| 4/1/2014 | 0.270847686 | 0.239636327 | 0.91167698 | -0.376967399 |
| 5/1/2014 | 0.311336656 | 0.478914631 | 0.998235533 | -0.251562412 |
| 6/1/2014 | 0.258954624 | 0.500814763 | 1.052110841 | -0.129207344 |
| 7/1/2014 | 0.200049038 | 0.584316384 | 0.638843605 | -0.060184377 |
| 8/1/2014 | -0.062098949 | 0.481746603 | 0.740808873 | -0.108124616 |
| 9/1/2014 | -0.032787774 | 0.318822557 | 0.347675362 | -0.114684201 |
| 10/1/2014 | -0.127753619 | 0.662439873 | 0.522502023 | -0.075660961 |
| 11/1/2014 | -0.46790565 | 0.289089677 | 0.204205497 | -0.181081344 |
| 12/1/2014 | -1.169714135 | -0.153349482 | -0.148802863 | -0.654652311 |
| 1/1/2015 | -1.942627463 | -0.72841597 | -0.29631721 | -1.083116085 |
| 2/1/2015 | -1.890823398 | -0.757611056 | -0.594176204 | -0.731611942 |
| 3/1/2015 | -1.846982713 | -0.443958427 | -0.582331324 | -0.513539792 |
| 4/1/2015 | -2.037994171 | -0.749730687 | -0.504651536 | -0.621920779 |
| 5/1/2015 | -1.789610858 | -0.802571977 | -0.502556685 | -0.3255775 |
| 6/1/2015 | -1.63349888 | -0.751858306 | -0.635792679 | -0.362365159 |
| 7/1/2015 | -1.561845431 | -0.504296583 | -0.426100582 | -0.398558149 |
| 8/1/2015 | -2.211421719 | -0.412741177 | -0.487715243 | -0.549890367 |
| 9/1/2015 | -2.476961634 | -0.502283197 | -0.602661604 | -0.698010398 |
| 10/1/2015 | -2.153945952 | -0.48237447 | -0.618034424 | -0.652546768 |
| 11/1/2015 | -1.869314459 | -0.287801177 | -0.844494574 | -0.515516333 |
| 12/1/2015 | -1.59268538 | -0.150358764 | -0.376465501 | -0.370354362 |
| 1/1/2016 | -0.969550228 | 0.197817903 | -0.155377262 | -0.274911462 |
| 2/1/2016 | -1.474013965 | -0.415287761 | -0.117022061 | -0.766030734 |
| 3/1/2016 | -1.561817175 | -0.522435704 | -0.009741474 | -0.692848163 |
| 4/1/2016 | -1.28933566 | -0.057173424 | -0.367644214 | -0.747692087 |
| 5/1/2016 | -1.42233227 | -0.157967867 | -0.359940483 | -0.704930569 |
| 6/1/2016 | -1.406613997 | -0.294513556 | -0.506873072 | -0.424822042 |
| 7/1/2016 | -1.548383075 | -0.553462215 | -0.374703683 | -0.482382814 |
| 8/1/2016 | -1.319368153 | -0.667384893 | -0.22758767 | -0.444515306 |
| 9/1/2016 | -0.922650906 | -0.325972096 | -0.061399289 | -0.154346767 |
| 10/1/2016 | -0.786863256 | -0.18153764 | -0.216893997 | -0.029427408 |
| 11/1/2016 | -0.732518697 | -0.532733878 | 0.239179458 | 0.083966272 |
| 12/1/2016 | -0.45409087 | -0.100027723 | 0.597532536 | 0.167778645 |
| 1/1/2017 | -0.045870779 | 0.1659286 | 0.724313909 | 0.488745942 |
| 2/1/2017 | 0.183674866 | -0.009137519 | 1.059516633 | 0.873341488 |
| 3/1/2017 | -0.165088054 | -0.146631946 | 1.190018035 | 0.395258729 |
| 4/1/2017 | -0.274782717 | -0.063566728 | 0.965732923 | 0.345344506 |
| 5/1/2017 | -0.560216431 | -0.240506341 | 0.953104519 | 0.389598542 |
| 6/1/2017 | -0.663932088 | -0.518934574 | 0.645134027 | 0.369523619 |
| 7/1/2017 | -0.666700944 | -0.3742798 | 0.642403658 | 0.231312883 |
| 8/1/2017 | -0.419563011 | -0.296237913 | 0.951327627 | 0.143212726 |
| 9/1/2017 | -0.128964201 | -0.024135664 | 0.34809666 | 0.114197942 |
| 10/1/2017 | -0.394137794 | -0.144738862 | -0.05234964 | -0.108234759 |
| 11/1/2017 | -0.217156056 | 0.180598801 | -0.049520372 | 0.058122873 |
| 12/1/2017 | -0.277299445 | -0.03322718 | 0.001832372 | 0.171794894 |
| 1/1/2018 | -0.31015488 | 0.01124239 | 0.118951517 | 0.229338445 |
| 2/1/2018 | -0.238966641 | 0.38228015 | 0.415434926 | 0.166029895 |
| 3/1/2018 | -0.017217172 | 0.621179989 | 0.683550177 | 0.191749897 |
| 4/1/2018 | 0.089721866 | 0.499782295 | 0.554283804 | -0.026457425 |
| 5/1/2018 | 0.36417601 | 0.54772387 | 0.858592588 | 0.609979372 |
| 6/1/2018 | 0.438774112 | 0.726396025 | 0.760602159 | 0.708751038 |
| 7/1/2018 | 0.520272767 | 1.07186291 | 0.487861726 | 0.453689845 |
| 8/1/2018 | 0.319830115 | 0.915624882 | 0.607085869 | 0.358999675 |
| 9/1/2018 | -0.098994353 | 0.278194548 | 0.626947312 | 0.42371334 |
| 10/1/2018 | 0.119675884 | 0.452245259 | 0.587643767 | 0.738108972 |
| 11/1/2018 | -0.330706695 | -0.161673863 | 0.706194944 | 0.459568222 |
| 12/1/2018 | -0.503881876 | -0.058384244 | 0.335730435 | 0.190477167 |
| 1/1/2019 | -0.777967634 | -0.369199958 | 0.5036841 | 0.295273233 |
| 2/1/2019 | -0.828754396 | -0.09965106 | 0.348233495 | 0.384767821 |
| 3/1/2019 | -0.513561327 | 0.268562141 | 0.48083621 | 0.005289355 |
| 4/1/2019 | -0.474660481 | 0.243791845 | 0.43747002 | 0.029703046 |
| 5/1/2019 | -0.475970033 | 0.282919708 | 0.305088958 | 0.00891336 |
| 6/1/2019 | -0.766421392 | 0.138716328 | 0.496198089 | 0.089169504 |
| 7/1/2019 | -0.610331438 | 0.215884004 | 0.298438647 | 0.307858813 |
| 8/1/2019 | -0.605820007 | -0.073440419 | 0.556787848 | 0.227660509 |
| 9/1/2019 | -0.595474444 | -0.149655524 | 0.459083258 | 0.220332551 |
| 10/1/2019 | -0.67871361 | -0.171178724 | 0.326359054 | -0.09319254 |
| 11/1/2019 | -0.362100065 | 0.24809877 | 0.324416534 | -0.08657166 |
| 12/1/2019 | -0.229373336 | 0.235601769 | 0.411555282 | 0.225017155 |
| 1/1/2020 | 0.041779702 | 0.596509415 | 0.713755044 | 0.038820546 |
| 2/1/2020 | -0.192819383 | 0.365406512 | 0.335800662 | 0.239487513 |
| 3/1/2020 | -0.889194621 | -0.659039307 | 0.355827991 | -0.211207204 |
| 4/1/2020 | -2.178152715 | -1.832099777 | -0.570949385 | -0.783099292 |
| 5/1/2020 | -2.429553829 | -2.00215559 | -0.222084227 | -1.00328237 |
| 6/1/2020 | -1.215269655 | -0.810465283 | -0.204864131 | -0.733801825 |
| 7/1/2020 | -0.926421258 | -1.469339242 | -0.415922818 | -0.995512428 |
| 8/1/2020 | -0.450789125 | -1.168584076 | -0.782872084 | -1.167744209 |
| 9/1/2020 | -0.384288197 | -0.784887135 | -0.393972776 | -1.092636196 |
| 10/1/2020 | -0.528294616 | -0.96305293 | 0.001098398 | -1.160204584 |
| 11/1/2020 | -0.541634724 | -0.653579324 | -0.380986971 | -1.17331067 |
| 12/1/2020 | -0.407879098 | -0.907838588 | -0.119071297 | -1.059157984 |
| 1/1/2021 | -0.413846285 | -0.510817759 | -0.166364095 | -0.471880967 |
| 2/1/2021 | -0.096287294 | -0.639054572 | -0.505764226 | -0.057617037 |
| 3/1/2021 | 0.658868577 | 0.144788455 | -0.352976042 | -0.133642556 |
| 4/1/2021 | 2.114474492 | 1.285042276 | 0.358442689 | 0.030902771 |
| 5/1/2021 | 2.810031661 | 1.266719572 | 0.552648389 | 0.446305446 |
| 6/1/2021 | 3.14869365 | 0.709124034 | 0.669025999 | 0.404334694 |
| 7/1/2021 | 3.135308306 | 1.265256676 | 0.784064718 | 0.589149956 |
| 8/1/2021 | 2.969949893 | 1.43526532 | 1.339728491 | 0.532516653 |
| 9/1/2021 | 3.040565365 | 1.831319295 | 1.211341011 | 1.148281839 |
| 10/1/2021 | 3.144978834 | 1.922482978 | 1.759985036 | 1.762603486 |
| 11/1/2021 | 3.564485907 | 1.832684581 | 1.870461495 | 2.657206724 |
| 12/1/2021 | 3.817683502 | 1.906757652 | 1.867321577 | 1.99985173 |
| 1/1/2022 | 4.172975545 | 1.935320436 | 1.642146985 | 1.433010788 |
| 2/1/2022 | 4.530859868 | 2.475329782 | 2.192349274 | 1.798172262 |
| 3/1/2022 | 5.136787387 | 3.506531534 | 3.027079525 | 3.258402067 |
| 4/1/2022 | 4.884191695 | 3.448398212 | 4.802474802 | 2.9215195 |
| 5/1/2022 | 5.187011272 | 4.247692091 | 4.87451446 | 3.299518092 |
| 6/1/2022 | 5.635690809 | 4.619262829 | 4.673570676 | 3.964915503 |
| 7/1/2022 | 5.10846365 | 4.088747592 | 4.914502269 | 4.127955173 |
| 8/1/2022 | 4.854758298 | 3.363920346 | 4.954859689 | 4.378178826 |
| 9/1/2022 | 4.816489941 | 3.193622229 | 5.421906283 | 4.860884029 |
| 10/1/2022 | 4.435160108 | 3.082530585 | 5.994809987 | 5.532425312 |
| 11/1/2022 | 3.872786102 | 3.029758427 | 5.75079176 | 4.910972683 |
| 12/1/2022 | 3.264478962 | 2.738073062 | 5.713224601 | 3.858098695 |
| 1/1/2023 | 3.212293985 | 2.490820931 | 5.20690997 | 2.765369386 |
| 2/1/2023 | 2.887525235 | 1.823511031 | 5.530532971 | 2.508207625 |
| 3/1/2023 | 1.882871971 | 1.131560349 | 5.206370546 | 1.13159166 |
| 4/1/2023 | 1.843935606 | 1.308661539 | 3.801836184 | 1.139036295 |
| 5/1/2023 | 0.932987348 | 0.232420607 | 3.523747302 | 0.30403505 |
| 6/1/2023 | -0.173682943 | -0.125710781 | 2.780963903 | -0.071798483 |
| 7/1/2023 | 0.102987035 | 0.522569507 | 2.05920717 | -0.130940606 |
| 8/1/2023 | 0.880948086 | 1.109717195 | 1.947951978 | -0.102441205 |
| 9/1/2023 | 0.771394377 | 0.921823481 | 1.984348042 | -0.907988998 |
| 10/1/2023 | 0.448152878 | 0.382211486 | 0.185441567 | -2.026585961 |
| 11/1/2023 | 0.273695135 | 0.449480159 | -0.137552635 | -2.163800648 |
| 12/1/2023 | 0.510787179 | 0.757039284 | -0.220811184 | -1.326452704 |
| 1/1/2024 | 0.272056368 | 0.323751562 | -0.25146229 | -1.249525477 |
| 2/1/2024 | 0.361957764 | 0.298967792 | -0.723098549 | -0.920260384 |
| 3/1/2024 | 0.681165861 | 0.396632177 | -0.833628878 | -0.680885605 |
| 4/1/2024 | 0.552273934 | 0.24072497 | -1.128732313 | -0.542180977 |
| 5/1/2024 | 0.508898346 | 0.327503438 | -1.208525772 | -0.752668674 |
| 6/1/2024 | 0.217767903 | 0.440294267 | -0.841246055 | -0.376053675 |
| 7/1/2024 | 0.150395619 | 0.381876621 | -0.780277137 | -0.682357547 |
| 8/1/2024 | -0.139370067 | -0.219644665 | -0.660857089 | -0.915591844 |
| 9/1/2024 | -0.263209645 | -0.575334081 | -1.030574527 | -1.184484152 |
| 10/1/2024 | -0.168517508 | -0.215556851 | -0.810542386 | -1.186104572 |
| 11/1/2024 | -0.030930829 | -0.204752924 | -0.366505322 | -1.045444967 |
| 12/1/2024 | 0.246746074 | -0.260907144 | -0.343948952 | -0.895572105 |
| 1/1/2025 | 0.410344554 | -0.342625172 | 0.082129643 | -0.441900825 |
| 2/1/2025 | 0.140165064 | 0.319581791 | -0.227810135 | -0.537764312 |
| 3/1/2025 | -0.248700789 | 0.006588538 | -0.518627608 | -0.900428405 |
| 4/1/2025 | -0.403006898 | -0.769028535 | 0.009692514 | -1.012537093 |
| 5/1/2025 | -0.329000271 | -0.747724457 | -0.139048382 | -1.048481385 |
| 6/1/2025 | -0.090093015 | -0.658009834 | -0.154296056 | -1.015534239 |
| 7/1/2025 | -0.214654782 | -0.844949498 | 0.305745252 | -0.952108552 |
| 8/1/2025 | -0.00273714 | -0.683211346 | 0.021083217 | -0.877055946 |
| 9/1/2025 | 0.08469284 | -0.185204845 | 0.195357626 | -0.931663122 |
| 10/1/2025 | 0.036694428 | -0.178602002 | 0.173531941 | -0.98777188 |
| 11/1/2025 | 0.245659732 | -0.289681233 | 0.204937102 | -1.368546067 |
| 12/1/2025 | 0.133725663 | -0.255821682 | 0.23877158 | -1.421567399 |
| 1/1/2026 | -0.221182773 | -0.078289695 | -0.00211087 | -1.033194416 |
Note: The model estimates 12-month headline inflation by fitting the inflation rate onto the headline CPI DI using data from 2000 to 2019. Residuals from 2020 onwards are out-of-sample predictions. Out-of-sample predictions extend through January 2026 for all countries. Missing U.S. CPI data for October 2025 were estimated through linear interpolation.
Source: Haver Analytics; Federal Reserve Board staff calculations.
Return to text
Figure 4A: Cross-Sectional Variance of Inflation by Category
Top right
Variance by 12-month growth
Headline
| Period | U.S. | Canada | U.K. | Euro area |
|---|---|---|---|---|
| 1/15/2014 | 15.57441289 | 10.45001726 | 10.82513955 | 9.015108885 |
| 2/15/2014 | 23.15773992 | 21.57975834 | 13.48358484 | 12.20459962 |
| 3/15/2014 | 17.46422934 | 22.61071545 | 15.04504796 | 12.18678981 |
| 4/15/2014 | 15.099622 | 26.88406539 | 17.16285203 | 9.354658095 |
| 5/15/2014 | 16.13900151 | 26.58850205 | 8.620623879 | 8.49017831 |
| 6/15/2014 | 14.09870951 | 24.48341614 | 8.148859457 | 18.55275585 |
| 7/15/2014 | 12.20626986 | 21.67009221 | 10.91860997 | 11.13719529 |
| 8/15/2014 | 14.92212387 | 20.89780074 | 14.22104252 | 19.62675054 |
| 9/15/2014 | 14.46037254 | 21.30980474 | 14.00224254 | 8.023940745 |
| 10/15/2014 | 14.77450898 | 22.55453122 | 13.67932192 | 6.131226889 |
| 11/15/2014 | 15.97571771 | 23.46910704 | 15.00382976 | 6.806141243 |
| 12/15/2014 | 23.42823754 | 28.28812082 | 18.73834221 | 17.8302297 |
| 1/15/2015 | 34.82279414 | 35.99364667 | 25.47245785 | 25.62684102 |
| 2/15/2015 | 35.48596453 | 36.1149476 | 24.12600839 | 14.59811704 |
| 3/15/2015 | 28.77948543 | 24.51608337 | 24.07765069 | 11.45642707 |
| 4/15/2015 | 30.78372581 | 21.89680049 | 20.71612987 | 11.57442741 |
| 5/15/2015 | 26.73137489 | 19.09988918 | 22.17083289 | 10.72960019 |
| 6/15/2015 | 27.66031553 | 15.92900396 | 21.82878364 | 9.379249324 |
| 7/15/2015 | 30.04187313 | 15.70549578 | 26.00809338 | 11.1394698 |
| 8/15/2015 | 37.1575482 | 15.46485168 | 32.21173486 | 12.59140608 |
| 9/15/2015 | 40.43420856 | 20.1898568 | 30.05894062 | 19.49273358 |
| 10/15/2015 | 34.99238617 | 23.85474518 | 25.34740206 | 16.65558841 |
| 11/15/2015 | 30.3930489 | 16.62425128 | 26.58963126 | 15.74154489 |
| 12/15/2015 | 28.46281706 | 18.04753837 | 39.85860243 | 8.161415515 |
| 1/15/2016 | 21.33916773 | 20.83223669 | 25.15299296 | 7.785855486 |
| 2/15/2016 | 27.36817439 | 24.47720878 | 29.44879964 | 11.07071883 |
| 3/15/2016 | 27.49055871 | 24.20704567 | 28.13752952 | 10.69991406 |
| 4/15/2016 | 20.06471984 | 17.54964993 | 21.98956044 | 15.573321 |
| 5/15/2016 | 19.43103606 | 13.49770003 | 22.41639039 | 44.29818007 |
| 6/15/2016 | 22.95297941 | 13.55205883 | 18.55048386 | 42.23336632 |
| 7/15/2016 | 23.79231763 | 16.01387843 | 13.72979621 | 52.78725299 |
| 8/15/2016 | 25.19183155 | 12.8380071 | 13.00904778 | 63.66800467 |
| 9/15/2016 | 22.85298313 | 12.93258228 | 13.47204563 | 43.34698324 |
| 10/15/2016 | 22.06475954 | 14.09523427 | 14.6069951 | 4.212537916 |
| 11/15/2016 | 21.73266322 | 14.44337688 | 11.86928742 | 5.20097306 |
| 12/15/2016 | 24.65679039 | 16.91433364 | 21.81773976 | 5.168138428 |
| 1/15/2017 | 26.96027011 | 29.37607699 | 46.03881851 | 11.60547152 |
| 2/15/2017 | 32.14931946 | 29.2716318 | 52.40669419 | 15.81606568 |
| 3/15/2017 | 23.51581876 | 21.4750312 | 38.26010217 | 9.437618497 |
| 4/15/2017 | 22.214712 | 25.47453142 | 25.3046171 | 14.15179039 |
| 5/15/2017 | 14.72033298 | 19.07388038 | 11.73104077 | 6.674417713 |
| 6/15/2017 | 10.53052423 | 14.62085506 | 8.518068082 | 5.229193439 |
| 7/15/2017 | 10.98528798 | 13.5886899 | 7.988247397 | 4.278404946 |
| 8/15/2017 | 11.81020285 | 13.75443424 | 10.68287632 | 5.617864901 |
| 9/15/2017 | 14.12840459 | 13.90233857 | 13.80315941 | 6.767362494 |
| 10/15/2017 | 12.80165681 | 10.76306487 | 8.460232872 | 6.339838517 |
| 11/15/2017 | 16.21893991 | 14.96161091 | 10.98838072 | 5.868730065 |
| 12/15/2017 | 15.39041798 | 11.95108295 | 10.40031346 | 4.713512319 |
| 1/15/2018 | 17.0548237 | 13.9962141 | 9.815943316 | 7.591057307 |
| 2/15/2018 | 17.45106407 | 13.07738219 | 9.904858275 | 9.899364513 |
| 3/15/2018 | 17.84108418 | 14.0314651 | 13.66955429 | 9.63160852 |
| 4/15/2018 | 21.43718546 | 14.33628201 | 16.35186792 | 11.31990041 |
| 5/15/2018 | 25.30980612 | 18.2784293 | 22.8653026 | 13.13266344 |
| 6/15/2018 | 28.6655671 | 19.38275454 | 24.57261333 | 14.57956684 |
| 7/15/2018 | 29.86994316 | 23.0145785 | 24.82008865 | 15.27871325 |
| 8/15/2018 | 26.06786232 | 19.01278084 | 22.66457627 | 14.25979896 |
| 9/15/2018 | 17.67681609 | 14.61332128 | 21.13377005 | 15.36985112 |
| 10/15/2018 | 20.29337861 | 16.5597881 | 29.32332997 | 18.00927593 |
| 11/15/2018 | 15.45092784 | 12.84261787 | 15.98702032 | 16.55451366 |
| 12/15/2018 | 15.17075454 | 27.10382611 | 9.275871694 | 11.45457485 |
| 1/15/2019 | 14.5594093 | 18.69028442 | 9.68480408 | 6.098863458 |
| 2/15/2019 | 15.05285637 | 16.31789561 | 9.829779325 | 7.454446639 |
| 3/15/2019 | 16.42329512 | 17.31266573 | 8.137279581 | 9.404884375 |
| 4/15/2019 | 17.34187014 | 15.90755064 | 24.02380913 | 9.513399338 |
| 5/15/2019 | 14.71852858 | 17.42691633 | 10.37539371 | 8.983383887 |
| 6/15/2019 | 14.4412077 | 20.43318888 | 9.691175689 | 9.018005398 |
| 7/15/2019 | 16.25488556 | 17.46072559 | 6.820755572 | 7.233165774 |
| 8/15/2019 | 17.46027323 | 16.5246053 | 7.412290294 | 6.420717076 |
| 9/15/2019 | 16.57511105 | 14.03401033 | 8.460839247 | 6.043763061 |
| 10/15/2019 | 17.38162595 | 14.71294209 | 9.600943158 | 8.514418183 |
| 11/15/2019 | 16.66286857 | 9.251002723 | 9.927429396 | 6.958335643 |
| 12/15/2019 | 15.29263018 | 9.37562002 | 11.43125403 | 5.432447517 |
| 1/15/2020 | 18.59726563 | 11.29133308 | 10.40166463 | 6.155584863 |
| 2/15/2020 | 18.26203629 | 11.95009378 | 9.821639762 | 6.262460086 |
| 3/15/2020 | 23.81162568 | 19.93142849 | 17.075432 | 7.418712699 |
| 4/15/2020 | 49.57918558 | 49.61227297 | 35.1884178 | 11.95572169 |
| 5/15/2020 | 61.39313465 | 40.6295053 | 40.11479168 | 14.98260514 |
| 6/15/2020 | 54.40140756 | 39.83579229 | 27.51068042 | 11.14810477 |
| 7/15/2020 | 40.87342769 | 44.82246466 | 26.82292297 | 11.15199269 |
| 8/15/2020 | 36.53404355 | 35.35290226 | 32.88186177 | 12.16126781 |
| 9/15/2020 | 38.09080482 | 37.07459222 | 32.30648463 | 14.14777951 |
| 10/15/2020 | 38.24506547 | 39.0373511 | 31.88506046 | 14.83305697 |
| 11/15/2020 | 33.48565729 | 27.75219263 | 32.32581859 | 13.62014467 |
| 12/15/2020 | 26.93762384 | 24.9428904 | 29.87578885 | 10.90242087 |
| 1/15/2021 | 25.79318748 | 24.97685616 | 26.82502985 | 7.823582608 |
| 2/15/2021 | 30.29323814 | 20.13628236 | 20.3096852 | 5.461390242 |
| 3/15/2021 | 38.63253037 | 38.30836611 | 20.65877058 | 6.744719517 |
| 4/15/2021 | 88.93166462 | 65.27552374 | 31.46731045 | 9.265036863 |
| 5/15/2021 | 138.065885 | 51.14255903 | 50.33086117 | 12.85969697 |
| 6/15/2021 | 110.2615654 | 52.47684602 | 30.12122563 | 12.31601849 |
| 7/15/2021 | 83.23580871 | 48.90815813 | 31.29355661 | 14.42717085 |
| 8/15/2021 | 76.34899646 | 56.989018 | 30.56463493 | 14.62687673 |
| 9/15/2021 | 75.16714743 | 70.70071755 | 41.92080422 | 19.97146235 |
| 10/15/2021 | 94.33071439 | 77.58536899 | 83.13519946 | 35.5196832 |
| 11/15/2021 | 100.7468976 | 81.21769343 | 111.9661436 | 44.23837371 |
| 12/15/2021 | 84.75086528 | 56.15287339 | 65.91659421 | 31.67354891 |
| 1/15/2022 | 75.9744189 | 48.83472098 | 57.6510598 | 38.94248864 |
| 2/15/2022 | 69.15012451 | 51.49661809 | 61.38290751 | 45.97172049 |
| 3/15/2022 | 93.78477377 | 76.74856859 | 178.0300898 | 106.3873018 |
| 4/15/2022 | 108.1889345 | 90.45367219 | 280.3262402 | 91.5781712 |
| 5/15/2022 | 151.1573743 | 125.9267996 | 304.6310197 | 98.8373261 |
| 6/15/2022 | 146.2563498 | 119.0180741 | 329.8561819 | 135.5393 |
| 7/15/2022 | 113.2917257 | 105.98141 | 300.2407722 | 138.7455241 |
| 8/15/2022 | 93.10288145 | 79.81121401 | 240.7848214 | 148.4475 |
| 9/15/2022 | 125.0809275 | 69.8822608 | 270.6947434 | 145.8544591 |
| 10/15/2022 | 136.6159531 | 74.29176405 | 307.6565503 | 157.1619256 |
| 11/15/2022 | 153.2441724 | 88.02593456 | 289.2593813 | 128.3089687 |
| 12/15/2022 | 168.1673472 | 63.11946046 | 289.2148453 | 91.52929812 |
| 1/15/2023 | 166.8626806 | 62.31115213 | 275.396133 | 65.09726393 |
| 2/15/2023 | 155.9500988 | 57.09554803 | 272.3676674 | 53.73906413 |
| 3/15/2023 | 144.659937 | 47.94933176 | 284.4030075 | 52.31858621 |
| 4/15/2023 | 138.9996486 | 42.95020343 | 78.37285956 | 38.20245234 |
| 5/15/2023 | 150.8933769 | 59.51601799 | 97.82650037 | 39.76697403 |
| 6/15/2023 | 100.0974008 | 53.06827816 | 108.3498814 | 41.60172534 |
| 7/15/2023 | 91.49559968 | 51.26402018 | 87.38187527 | 36.84571466 |
| 8/15/2023 | 60.49643314 | 36.39402219 | 55.24017479 | 31.37150455 |
| 9/15/2023 | 40.24607626 | 37.65131836 | 54.46936418 | 25.75137561 |
| 10/15/2023 | 42.37029466 | 36.68877874 | 69.84377443 | 31.31991549 |
| 11/15/2023 | 41.00669404 | 46.5763412 | 66.7278066 | 31.09491012 |
| 12/15/2023 | 38.00851178 | 38.96521615 | 63.98456271 | 23.45341413 |
| 1/15/2024 | 39.97829103 | 37.07044666 | 54.0831495 | 20.33059137 |
| 2/15/2024 | 29.59768165 | 31.10107895 | 48.45448854 | 18.60968948 |
| 3/15/2024 | 26.94697698 | 31.30235398 | 47.387681 | 16.75841332 |
| 4/15/2024 | 27.68928701 | 26.23310956 | 54.69633304 | 16.18777773 |
| 5/15/2024 | 22.82307345 | 25.08528657 | 53.76367502 | 14.68511732 |
| 6/15/2024 | 22.18857068 | 23.74006827 | 51.06143469 | 13.8941137 |
| 7/15/2024 | 23.21859508 | 19.35709677 | 35.68370942 | 16.45767896 |
| 8/15/2024 | 26.48196175 | 21.24159942 | 39.78762515 | 16.79423096 |
| 9/15/2024 | 32.68642888 | 21.99533771 | 43.40432503 | 18.68271424 |
| 10/15/2024 | 25.25259749 | 17.99873994 | 36.58364267 | 25.29051261 |
| 11/15/2024 | 26.67764812 | 18.0604794 | 32.12163085 | 23.76728488 |
| 12/15/2024 | 22.074872 | 19.92834394 | 36.44613877 | 22.22621651 |
| 1/15/2025 | 29.10287645 | 17.90063489 | 23.31909149 | 20.35703393 |
| 2/15/2025 | 33.83782432 | 20.7134348 | 24.32593636 | 21.18938083 |
| 3/15/2025 | 36.71746924 | 21.09870642 | 24.70819007 | 23.10794416 |
| 4/15/2025 | 30.97976482 | 27.04993508 | 45.65674374 | 26.6448257 |
| 5/15/2025 | 26.16074455 | 25.04292236 | 38.42265039 | 18.09609921 |
| 6/15/2025 | 19.02580066 | 25.03791821 | 35.26431942 | 17.12561411 |
| 7/15/2025 | 15.96894473 | 27.85533236 | 36.20089735 | 15.21705082 |
| 8/15/2025 | 16.58837396 | 25.34012707 | 31.83685277 | 15.53195408 |
| 9/15/2025 | 14.65340383 | 23.95626427 | 31.36323654 | 14.11618018 |
| 10/15/2025 | 15.14994247 | 26.54099446 | 27.35791486 | 15.81842652 |
| 11/15/2025 | 17.33186972 | 32.54841976 | 27.78492749 | 13.96734395 |
| 12/15/2025 | 18.36999309 | 34.62636322 | 29.14282544 | 13.86220981 |
| 1/15/2026 | 23.73299101 | 34.12842619 | 30.69776496 | 13.5956123 |
Top left
Variance by 12-month growth
Core
| Period | U.S. | Canada | U.K. | Euro area |
|---|---|---|---|---|
| 1/15/2014 | 12.12447874 | 7.175795909 | 10.63396205 | 10.15338801 |
| 2/15/2014 | 11.44679121 | 8.524844353 | 10.98733821 | 13.92294303 |
| 3/15/2014 | 10.46173438 | 8.806357845 | 12.22558711 | 14.09394936 |
| 4/15/2014 | 10.64128871 | 17.47660664 | 16.99487109 | 10.67669837 |
| 5/15/2014 | 12.78599584 | 17.49526532 | 7.48309065 | 9.180212826 |
| 6/15/2014 | 13.71415184 | 18.00513517 | 7.424600134 | 21.31742938 |
| 7/15/2014 | 11.30606451 | 16.82405313 | 8.989352193 | 11.83793812 |
| 8/15/2014 | 13.87847446 | 18.69842649 | 12.99394096 | 22.60159163 |
| 9/15/2014 | 11.59116304 | 19.31678349 | 11.68598252 | 8.804080879 |
| 10/15/2014 | 11.81849989 | 18.91699061 | 10.69643794 | 6.34620653 |
| 11/15/2014 | 12.45089316 | 19.90292359 | 12.15972515 | 7.06288586 |
| 12/15/2014 | 14.2832271 | 18.35749229 | 11.63873966 | 17.05209667 |
| 1/15/2015 | 14.90339189 | 16.65327422 | 9.779193239 | 22.92597301 |
| 2/15/2015 | 12.4743958 | 15.51211865 | 11.51631885 | 12.195759 |
| 3/15/2015 | 13.73921845 | 14.89030543 | 12.63127968 | 9.953482484 |
| 4/15/2015 | 13.79487869 | 7.953724558 | 11.64760323 | 9.641527214 |
| 5/15/2015 | 13.11299964 | 7.387719722 | 15.31583781 | 9.35227819 |
| 6/15/2015 | 12.38945008 | 7.212610822 | 14.25159341 | 6.976783488 |
| 7/15/2015 | 12.00351155 | 7.162475016 | 16.78273405 | 8.193931717 |
| 8/15/2015 | 13.50979776 | 6.503643189 | 17.33725733 | 6.90478366 |
| 9/15/2015 | 13.4693752 | 8.365850678 | 15.38848211 | 14.03879853 |
| 10/15/2015 | 12.58964218 | 8.603111189 | 12.22611983 | 10.95837732 |
| 11/15/2015 | 12.38128837 | 8.097870055 | 12.34290442 | 11.21104476 |
| 12/15/2015 | 12.82421384 | 8.002609532 | 28.27102083 | 3.031522429 |
| 1/15/2016 | 11.75443796 | 9.156567388 | 14.83519373 | 2.774633052 |
| 2/15/2016 | 13.19522084 | 9.113333456 | 15.15265523 | 2.764058299 |
| 3/15/2016 | 13.3329026 | 7.846435036 | 18.02773694 | 3.180628091 |
| 4/15/2016 | 11.98860885 | 7.268979856 | 13.42644514 | 9.727547607 |
| 5/15/2016 | 14.01905113 | 7.396956663 | 16.08092934 | 47.0092014 |
| 6/15/2016 | 16.46711469 | 7.244387931 | 15.02317097 | 47.09956191 |
| 7/15/2016 | 15.52376283 | 8.475871361 | 12.69457466 | 60.02945099 |
| 8/15/2016 | 15.74298565 | 7.721638574 | 12.56516625 | 75.01900138 |
| 9/15/2016 | 18.08739979 | 10.53217701 | 13.56979548 | 51.48581975 |
| 10/15/2016 | 18.43069444 | 7.964608298 | 12.31313657 | 3.97624413 |
| 11/15/2016 | 18.55487644 | 7.896479295 | 8.542578204 | 5.412782572 |
| 12/15/2016 | 18.98827031 | 6.312481366 | 7.826436432 | 4.54022049 |
| 1/15/2017 | 15.10471192 | 7.446048379 | 6.982811419 | 4.595191957 |
| 2/15/2017 | 13.3863744 | 7.537829933 | 7.402589014 | 5.659599828 |
| 3/15/2017 | 13.17413244 | 8.584838008 | 16.50330275 | 5.318154387 |
| 4/15/2017 | 15.89754746 | 8.936518227 | 9.107778019 | 11.88718113 |
| 5/15/2017 | 13.74242736 | 9.912326601 | 6.949231751 | 6.535203799 |
| 6/15/2017 | 11.46051348 | 9.846042457 | 6.544411346 | 5.593214305 |
| 7/15/2017 | 12.83264948 | 9.072174269 | 7.395460165 | 3.881149432 |
| 8/15/2017 | 13.28857835 | 10.89889496 | 8.35972554 | 4.579767972 |
| 9/15/2017 | 11.46422576 | 11.83790327 | 8.865576621 | 5.504536634 |
| 10/15/2017 | 12.15760514 | 9.481337933 | 8.041793903 | 5.836644878 |
| 11/15/2017 | 12.80623226 | 10.19868033 | 8.352080869 | 4.251295162 |
| 12/15/2017 | 13.17138877 | 9.754061329 | 6.078162117 | 4.063693769 |
| 1/15/2018 | 13.69256928 | 9.810923893 | 8.276940943 | 7.439869297 |
| 2/15/2018 | 14.85027801 | 10.93467467 | 8.989474119 | 9.794782865 |
| 3/15/2018 | 15.30163336 | 10.7428758 | 8.582966069 | 10.20986341 |
| 4/15/2018 | 14.62931965 | 10.92347043 | 10.70334888 | 11.88173178 |
| 5/15/2018 | 15.61789745 | 8.830121527 | 9.416890629 | 11.11710961 |
| 6/15/2018 | 18.49917251 | 9.715192362 | 9.166800082 | 9.906671867 |
| 7/15/2018 | 16.52115775 | 14.23312523 | 9.533149719 | 10.29956441 |
| 8/15/2018 | 17.56008496 | 12.63199002 | 13.17007282 | 9.571536202 |
| 9/15/2018 | 15.52915955 | 6.557553098 | 9.45775335 | 9.535654063 |
| 10/15/2018 | 16.9323422 | 6.87310027 | 10.37187991 | 10.8997005 |
| 11/15/2018 | 17.02477952 | 7.122283967 | 10.27621194 | 10.98906427 |
| 12/15/2018 | 18.10787706 | 16.65165144 | 8.823293249 | 10.67285778 |
| 1/15/2019 | 16.79239616 | 12.37126259 | 10.15197307 | 5.939800615 |
| 2/15/2019 | 17.36184944 | 9.550880397 | 10.13440373 | 6.264734717 |
| 3/15/2019 | 18.78302133 | 12.01071617 | 7.934310991 | 8.697247035 |
| 4/15/2019 | 19.21614962 | 11.21774769 | 26.77432983 | 9.326465228 |
| 5/15/2019 | 17.07339266 | 10.22887299 | 8.996969478 | 9.309930658 |
| 6/15/2019 | 16.67032513 | 14.36867769 | 9.396716848 | 9.549638959 |
| 7/15/2019 | 17.76516742 | 9.355586694 | 6.442315391 | 7.617269806 |
| 8/15/2019 | 18.47239622 | 9.666504266 | 6.630031128 | 6.42067952 |
| 9/15/2019 | 19.08431703 | 9.254998247 | 8.157256337 | 6.373816501 |
| 10/15/2019 | 20.24445625 | 9.574542275 | 7.681382347 | 8.91204555 |
| 11/15/2019 | 19.84881666 | 8.109672357 | 8.760408886 | 6.265585965 |
| 12/15/2019 | 19.44489706 | 7.829672782 | 12.68994276 | 5.976438042 |
| 1/15/2020 | 23.10119797 | 10.19838734 | 9.500394454 | 6.426142005 |
| 2/15/2020 | 23.93668215 | 9.824529539 | 9.421973965 | 6.349694374 |
| 3/15/2020 | 25.38391555 | 9.232256673 | 9.933213128 | 5.576559542 |
| 4/15/2020 | 40.16454594 | 16.18226868 | 11.36123416 | 5.384694884 |
| 5/15/2020 | 49.43971845 | 21.71598598 | 9.852973399 | 4.781999268 |
| 6/15/2020 | 45.84167461 | 20.86139562 | 8.616692727 | 4.299373379 |
| 7/15/2020 | 36.68263101 | 28.65446988 | 9.940956087 | 5.373810016 |
| 8/15/2020 | 34.87289707 | 28.43168203 | 16.98057563 | 6.781603495 |
| 9/15/2020 | 37.60300232 | 19.22514578 | 12.70779872 | 7.192806756 |
| 10/15/2020 | 35.00889496 | 24.0071396 | 10.62919643 | 7.793529477 |
| 11/15/2020 | 29.10126457 | 22.62813164 | 11.39984018 | 6.910678759 |
| 12/15/2020 | 24.33012232 | 26.40938842 | 18.08120827 | 6.621796583 |
| 1/15/2021 | 26.90644769 | 29.48626896 | 17.41060609 | 5.263487034 |
| 2/15/2021 | 32.88535707 | 24.67982342 | 18.94315787 | 5.494963294 |
| 3/15/2021 | 32.47737601 | 28.50867616 | 18.35429163 | 7.2938115 |
| 4/15/2021 | 80.73323715 | 17.78125932 | 13.29112852 | 6.918607135 |
| 5/15/2021 | 137.4602164 | 21.51367232 | 11.90466611 | 6.468538293 |
| 6/15/2021 | 111.0125232 | 30.00945172 | 11.6077169 | 6.590678019 |
| 7/15/2021 | 85.43699702 | 27.63232829 | 13.65278028 | 6.696067139 |
| 8/15/2021 | 53.73570993 | 43.98676515 | 16.95381893 | 5.975816081 |
| 9/15/2021 | 40.10556332 | 61.415805 | 16.71398092 | 6.423855393 |
| 10/15/2021 | 38.28179239 | 53.99361571 | 23.40616719 | 5.831466163 |
| 11/15/2021 | 37.5377389 | 60.9495019 | 24.25961285 | 7.733191079 |
| 12/15/2021 | 39.77976217 | 40.81211021 | 31.51857021 | 7.575694005 |
| 1/15/2022 | 40.83242923 | 35.0833547 | 30.46961195 | 6.157440746 |
| 2/15/2022 | 41.7124447 | 32.50439984 | 30.99139317 | 6.771636677 |
| 3/15/2022 | 41.14119271 | 39.49417999 | 34.39202125 | 6.945585486 |
| 4/15/2022 | 40.27465061 | 53.10214247 | 29.42353115 | 13.52216886 |
| 5/15/2022 | 41.31994286 | 57.95167137 | 30.8171394 | 16.265885 |
| 6/15/2022 | 37.38606105 | 72.94656844 | 27.55551671 | 39.21326099 |
| 7/15/2022 | 36.83666148 | 86.05858334 | 37.72802573 | 48.38061782 |
| 8/15/2022 | 36.96302143 | 59.61475849 | 42.57078288 | 45.80945701 |
| 9/15/2022 | 45.56093777 | 43.88106026 | 42.19480537 | 19.15819298 |
| 10/15/2022 | 41.98139233 | 41.28408279 | 39.31963521 | 25.07974312 |
| 11/15/2022 | 38.18258734 | 43.66541756 | 40.196668 | 23.68476249 |
| 12/15/2022 | 34.16258419 | 33.90831439 | 52.81653409 | 24.6725004 |
| 1/15/2023 | 33.79792541 | 39.98004503 | 29.55254357 | 20.88076469 |
| 2/15/2023 | 32.75743337 | 44.57496269 | 34.48271704 | 22.16682189 |
| 3/15/2023 | 29.41731503 | 45.4395983 | 40.04223523 | 21.3648736 |
| 4/15/2023 | 28.92178592 | 36.14788338 | 31.46966715 | 18.15431872 |
| 5/15/2023 | 31.44077624 | 38.77937517 | 45.60809848 | 18.75665209 |
| 6/15/2023 | 35.79461841 | 32.98879825 | 46.99889154 | 21.37020102 |
| 7/15/2023 | 38.12815661 | 36.33030619 | 52.44519858 | 21.26069744 |
| 8/15/2023 | 38.74143694 | 36.28098365 | 44.69074442 | 23.13168035 |
| 9/15/2023 | 41.10236727 | 38.97341224 | 46.92893612 | 13.40040587 |
| 10/15/2023 | 37.61117537 | 37.88355216 | 44.33046503 | 12.94819974 |
| 11/15/2023 | 34.74749425 | 42.33572943 | 40.28076093 | 15.57309843 |
| 12/15/2023 | 32.43488397 | 34.6495253 | 39.48740613 | 12.15687806 |
| 1/15/2024 | 29.947639 | 32.14801532 | 34.95716556 | 13.6341837 |
| 2/15/2024 | 26.66545222 | 31.62335681 | 34.81387528 | 15.06439865 |
| 3/15/2024 | 27.4544539 | 34.44001728 | 34.92618345 | 14.20454248 |
| 4/15/2024 | 28.16958447 | 29.4735442 | 33.1360138 | 13.92892693 |
| 5/15/2024 | 26.70208281 | 28.39795645 | 32.46470385 | 12.4871328 |
| 6/15/2024 | 25.75670004 | 24.45196621 | 29.80985407 | 11.88287026 |
| 7/15/2024 | 24.60191917 | 21.19048354 | 25.74384965 | 15.01340059 |
| 8/15/2024 | 21.73500845 | 22.93860671 | 24.84659255 | 13.46748373 |
| 9/15/2024 | 18.73930409 | 18.92451552 | 22.11926886 | 13.16990885 |
| 10/15/2024 | 17.15602999 | 16.22893015 | 28.06121804 | 22.15749878 |
| 11/15/2024 | 16.04119401 | 19.05089378 | 24.04842783 | 22.11702863 |
| 12/15/2024 | 15.18372735 | 20.40731112 | 36.19568991 | 21.9470744 |
| 1/15/2025 | 16.19781926 | 18.13627514 | 19.83476191 | 22.00190914 |
| 2/15/2025 | 15.91391274 | 23.21070206 | 20.38690488 | 21.97259001 |
| 3/15/2025 | 15.61363696 | 22.48792316 | 21.11483436 | 22.64366358 |
| 4/15/2025 | 14.10448986 | 19.85027084 | 45.23829636 | 23.73991098 |
| 5/15/2025 | 15.09728757 | 19.51028151 | 35.43379224 | 11.68849314 |
| 6/15/2025 | 14.27315169 | 17.06473386 | 34.22719649 | 11.34448787 |
| 7/15/2025 | 14.10304494 | 18.75530135 | 36.09356365 | 10.7603472 |
| 8/15/2025 | 14.40282789 | 16.37432406 | 33.79383961 | 11.44561744 |
| 9/15/2025 | 13.57285031 | 17.47741016 | 33.8428768 | 10.7898316 |
| 10/15/2025 | 11.83981482 | 20.02715974 | 31.57874522 | 12.18157541 |
| 11/15/2025 | 12.87833606 | 21.78323933 | 33.38550092 | 10.87169782 |
| 12/15/2025 | 12.38150936 | 21.41867616 | 35.43527204 | 10.54587841 |
| 1/15/2026 | 12.85300536 | 17.9114383 | 36.01902479 | 9.773573233 |
Bottom left
Variance by 12-month growth
Core Goods
| Period | U.S. | Canada | U.K. | Euro area |
|---|---|---|---|---|
| 1/15/2014 | 14.31565506 | 6.751386354 | 9.228684044 | 15.5555658 |
| 2/15/2014 | 12.7225926 | 7.135965436 | 10.27143282 | 23.26497309 |
| 3/15/2014 | 11.43361625 | 9.114727114 | 13.42377249 | 23.01908604 |
| 4/15/2014 | 12.28130152 | 9.378154949 | 12.19714466 | 13.64829875 |
| 5/15/2014 | 15.36904256 | 8.889065621 | 7.602317759 | 13.57830675 |
| 6/15/2014 | 17.4912279 | 10.61152015 | 8.380050854 | 41.16020278 |
| 7/15/2014 | 13.48491703 | 9.940836535 | 11.05483012 | 20.34616829 |
| 8/15/2014 | 17.77701933 | 11.57260489 | 18.6788013 | 45.31679203 |
| 9/15/2014 | 13.52370496 | 14.660544 | 16.54534192 | 12.66123887 |
| 10/15/2014 | 13.63056687 | 14.94005483 | 13.20226354 | 8.939062054 |
| 11/15/2014 | 14.36567042 | 17.07700021 | 16.03764604 | 10.41307179 |
| 12/15/2014 | 16.50646074 | 13.90922459 | 15.81621806 | 32.06037777 |
| 1/15/2015 | 17.67067892 | 12.39231987 | 11.88078924 | 45.808928 |
| 2/15/2015 | 15.03217475 | 9.722648584 | 12.59985779 | 22.58875644 |
| 3/15/2015 | 16.49772618 | 8.302877978 | 13.04294384 | 17.37971126 |
| 4/15/2015 | 15.81768966 | 9.689872406 | 13.31451291 | 14.63919685 |
| 5/15/2015 | 15.3031986 | 9.282071282 | 18.06592343 | 7.042445241 |
| 6/15/2015 | 13.04276546 | 8.950375237 | 16.19050344 | 6.257531238 |
| 7/15/2015 | 12.78781001 | 8.662464836 | 21.04034492 | 5.372111969 |
| 8/15/2015 | 15.15603784 | 8.273531557 | 19.73703841 | 5.314527492 |
| 9/15/2015 | 14.55291128 | 10.14350951 | 16.6422614 | 20.54462153 |
| 10/15/2015 | 13.2824311 | 11.40780378 | 15.26413155 | 14.19559014 |
| 11/15/2015 | 13.21202934 | 10.68484979 | 14.69320614 | 21.03666703 |
| 12/15/2015 | 13.66891725 | 9.538294618 | 16.24237577 | 2.806067563 |
| 1/15/2016 | 13.01622677 | 12.1691512 | 18.2541514 | 3.066997169 |
| 2/15/2016 | 16.26298294 | 11.87748912 | 17.79252732 | 2.397558421 |
| 3/15/2016 | 15.47368875 | 9.48151787 | 15.44613144 | 2.947712066 |
| 4/15/2016 | 13.08151682 | 8.52053844 | 16.64487532 | 3.327225998 |
| 5/15/2016 | 16.27779263 | 8.078099962 | 14.6215963 | 3.431636875 |
| 6/15/2016 | 18.07717315 | 8.730178326 | 14.13466251 | 4.691189733 |
| 7/15/2016 | 17.91411144 | 9.414714715 | 8.804921939 | 3.913366343 |
| 8/15/2016 | 18.59352504 | 7.669531565 | 9.227225689 | 5.237208631 |
| 9/15/2016 | 21.96979242 | 10.00381474 | 8.062341139 | 5.249754281 |
| 10/15/2016 | 23.46912339 | 8.327584999 | 7.14838415 | 6.709194798 |
| 11/15/2016 | 22.4611761 | 8.933957858 | 7.285433818 | 7.465160814 |
| 12/15/2016 | 22.25813806 | 8.026542806 | 7.217631451 | 5.748260536 |
| 1/15/2017 | 18.48382556 | 10.04560286 | 6.734569946 | 5.571747409 |
| 2/15/2017 | 16.03881904 | 9.817734379 | 5.426761864 | 6.767607568 |
| 3/15/2017 | 14.78900542 | 8.50374251 | 7.296095113 | 6.034132856 |
| 4/15/2017 | 18.62015877 | 7.661249921 | 6.139304304 | 5.065774323 |
| 5/15/2017 | 14.44937337 | 8.37566791 | 6.374698903 | 4.852517355 |
| 6/15/2017 | 11.25896942 | 8.081118739 | 6.506277035 | 4.616675827 |
| 7/15/2017 | 14.06433937 | 7.555472249 | 7.596770771 | 4.227805713 |
| 8/15/2017 | 14.76453288 | 9.555842886 | 8.692810231 | 3.89697715 |
| 9/15/2017 | 12.07942609 | 9.391483718 | 9.022574884 | 3.727910862 |
| 10/15/2017 | 13.06231996 | 9.116540848 | 5.529667779 | 3.268906936 |
| 11/15/2017 | 13.45401235 | 10.23447044 | 6.951814837 | 3.292791025 |
| 12/15/2017 | 13.65509166 | 11.35061909 | 6.348866395 | 2.832060235 |
| 1/15/2018 | 14.03023102 | 10.47895442 | 9.761714566 | 10.97561486 |
| 2/15/2018 | 16.25373559 | 11.29867696 | 11.51330142 | 14.50247387 |
| 3/15/2018 | 18.20146181 | 9.652467982 | 9.802013626 | 13.79200404 |
| 4/15/2018 | 18.01891841 | 10.44854648 | 9.943861338 | 13.04456725 |
| 5/15/2018 | 19.44068175 | 7.037253343 | 12.62768243 | 13.82928637 |
| 6/15/2018 | 22.54203348 | 6.053973534 | 12.93290532 | 14.62347787 |
| 7/15/2018 | 19.14644256 | 5.987602029 | 10.23314807 | 15.40006987 |
| 8/15/2018 | 21.10902434 | 5.621145867 | 12.0263434 | 14.57927896 |
| 9/15/2018 | 18.60736178 | 4.745013319 | 8.613334445 | 14.72071918 |
| 10/15/2018 | 21.61089502 | 5.450743489 | 10.88929719 | 18.43435104 |
| 11/15/2018 | 20.58057856 | 5.215436344 | 7.994555449 | 18.3616956 |
| 12/15/2018 | 24.20549939 | 8.925428828 | 6.384410174 | 17.7479454 |
| 1/15/2019 | 23.38404091 | 15.48837238 | 8.01692181 | 9.139399439 |
| 2/15/2019 | 23.84388075 | 8.683612871 | 8.309874038 | 9.346224254 |
| 3/15/2019 | 24.46004877 | 10.66515365 | 6.49353764 | 14.40297365 |
| 4/15/2019 | 22.89520773 | 7.348328655 | 8.064356252 | 13.04040957 |
| 5/15/2019 | 21.25855114 | 7.93186647 | 8.07703105 | 15.27924521 |
| 6/15/2019 | 21.3348578 | 14.49684548 | 7.351724836 | 16.47045932 |
| 7/15/2019 | 22.15401374 | 7.8531371 | 9.089019736 | 11.79709187 |
| 8/15/2019 | 22.77242673 | 6.506330151 | 7.346797932 | 9.95510857 |
| 9/15/2019 | 22.67243552 | 7.994448608 | 10.85356322 | 9.337006309 |
| 10/15/2019 | 23.33369984 | 8.882160806 | 8.119811447 | 9.238633583 |
| 11/15/2019 | 22.15080945 | 7.682116592 | 10.91180379 | 9.411467327 |
| 12/15/2019 | 20.35004878 | 7.233956888 | 16.80881828 | 8.976595765 |
| 1/15/2020 | 25.75271854 | 10.3252365 | 11.87786083 | 8.490001967 |
| 2/15/2020 | 27.24310458 | 9.774458277 | 12.76840546 | 9.311623483 |
| 3/15/2020 | 26.22542848 | 9.27051521 | 10.37101536 | 8.028567791 |
| 4/15/2020 | 34.39150813 | 16.06487448 | 16.678301 | 6.455954135 |
| 5/15/2020 | 40.02458363 | 20.9316559 | 14.04614613 | 6.235007367 |
| 6/15/2020 | 42.31261666 | 14.8221251 | 12.14567737 | 6.434176094 |
| 7/15/2020 | 35.23845733 | 29.35929424 | 9.978910604 | 8.087186 |
| 8/15/2020 | 35.04898731 | 26.61168087 | 8.332411954 | 6.642433384 |
| 9/15/2020 | 38.5959128 | 13.8014455 | 11.87094622 | 7.402953459 |
| 10/15/2020 | 37.04281026 | 23.54999586 | 8.881565969 | 6.845069495 |
| 11/15/2020 | 31.5311715 | 21.50009399 | 12.94812934 | 6.737150863 |
| 12/15/2020 | 26.03061163 | 22.46592149 | 15.60606233 | 7.061013202 |
| 1/15/2021 | 27.75468975 | 23.73352394 | 18.09208787 | 7.465299843 |
| 2/15/2021 | 31.20606449 | 26.14830012 | 18.22603248 | 7.455338762 |
| 3/15/2021 | 28.52154113 | 24.92525456 | 14.6505806 | 11.39102296 |
| 4/15/2021 | 27.97184213 | 12.37746294 | 9.597722316 | 8.493630887 |
| 5/15/2021 | 36.73272393 | 17.76671488 | 8.932041141 | 7.250361585 |
| 6/15/2021 | 55.30967575 | 19.20810065 | 9.777185119 | 6.936644369 |
| 7/15/2021 | 48.10941658 | 16.93758559 | 17.12455972 | 6.994583661 |
| 8/15/2021 | 39.56309909 | 16.30922829 | 17.91054442 | 6.5226374 |
| 9/15/2021 | 31.74069485 | 18.06170637 | 21.50351628 | 5.917584707 |
| 10/15/2021 | 30.85612576 | 13.84806388 | 28.51748964 | 4.722048125 |
| 11/15/2021 | 33.38681133 | 12.57996048 | 31.36799813 | 6.505620013 |
| 12/15/2021 | 37.3987893 | 18.5122619 | 33.14450152 | 5.864403118 |
| 1/15/2022 | 46.38125801 | 18.96247078 | 36.51250583 | 6.037728916 |
| 2/15/2022 | 45.18785923 | 22.4600738 | 38.83149378 | 8.181343685 |
| 3/15/2022 | 41.11995857 | 23.61094198 | 45.35746638 | 8.533569332 |
| 4/15/2022 | 42.04687576 | 32.10686028 | 38.23560997 | 10.84911467 |
| 5/15/2022 | 38.164012 | 32.7624821 | 34.72434527 | 12.57066052 |
| 6/15/2022 | 36.10530483 | 35.70494505 | 28.74742346 | 13.12423178 |
| 7/15/2022 | 36.78016345 | 28.6791714 | 25.38834692 | 15.07366235 |
| 8/15/2022 | 35.12908312 | 31.70069931 | 26.12842099 | 15.3650249 |
| 9/15/2022 | 35.67573712 | 25.86094566 | 29.70501732 | 14.82690818 |
| 10/15/2022 | 33.6287317 | 28.83848594 | 30.27307937 | 16.47425482 |
| 11/15/2022 | 35.83379055 | 26.69975401 | 30.31579568 | 18.4923688 |
| 12/15/2022 | 35.50510963 | 19.89910951 | 31.25724338 | 18.3416436 |
| 1/15/2023 | 34.4708308 | 23.75919183 | 31.14121882 | 17.64970654 |
| 2/15/2023 | 32.21766291 | 21.81177025 | 31.98693631 | 16.74321915 |
| 3/15/2023 | 28.67998206 | 26.96480266 | 28.96596184 | 15.70014464 |
| 4/15/2023 | 25.28395377 | 21.97733788 | 20.78257589 | 14.38157213 |
| 5/15/2023 | 21.79663781 | 26.01446917 | 28.16174302 | 15.15812217 |
| 6/15/2023 | 21.18995534 | 21.23438027 | 20.72417205 | 12.31367633 |
| 7/15/2023 | 21.43534811 | 24.71664087 | 20.06342491 | 10.7085126 |
| 8/15/2023 | 22.81069156 | 19.39142223 | 22.90055376 | 12.58034398 |
| 9/15/2023 | 22.92558103 | 21.51146437 | 22.21843678 | 12.71646178 |
| 10/15/2023 | 20.86598569 | 20.65653337 | 20.41264716 | 11.07554554 |
| 11/15/2023 | 21.30047568 | 20.44048407 | 19.55121724 | 12.09492698 |
| 12/15/2023 | 20.10120045 | 20.26222629 | 21.59372686 | 11.87345708 |
| 1/15/2024 | 19.09221439 | 23.25082471 | 18.29727842 | 12.29979488 |
| 2/15/2024 | 18.40228083 | 22.5534516 | 22.04923015 | 16.68229612 |
| 3/15/2024 | 17.48101237 | 18.00563504 | 29.91462361 | 13.79063515 |
| 4/15/2024 | 20.41675652 | 16.81145042 | 24.73078733 | 10.94672244 |
| 5/15/2024 | 20.80947638 | 17.80615053 | 25.94799386 | 12.47924882 |
| 6/15/2024 | 23.77966932 | 15.4340071 | 25.38652099 | 11.34866232 |
| 7/15/2024 | 23.92588115 | 14.03597792 | 17.90628653 | 13.59402085 |
| 8/15/2024 | 20.82449513 | 16.28773584 | 16.53379273 | 11.5061007 |
| 9/15/2024 | 16.57197864 | 16.75662599 | 19.14862767 | 10.7025503 |
| 10/15/2024 | 13.41858637 | 11.28774243 | 17.8377316 | 9.420854767 |
| 11/15/2024 | 13.15902196 | 14.73314598 | 15.11923557 | 8.482505105 |
| 12/15/2024 | 12.51246049 | 15.66953099 | 13.08374961 | 9.132346075 |
| 1/15/2025 | 15.50929885 | 12.62977221 | 11.97591465 | 10.58050963 |
| 2/15/2025 | 15.50576854 | 15.31884333 | 9.659971383 | 10.82541128 |
| 3/15/2025 | 15.24704139 | 13.44607025 | 10.03695248 | 10.66392488 |
| 4/15/2025 | 14.60050455 | 12.04376821 | 11.70061131 | 11.03773573 |
| 5/15/2025 | 16.83453876 | 12.80876582 | 9.559032451 | 9.129595846 |
| 6/15/2025 | 16.37754347 | 14.01087424 | 9.635311897 | 9.600028273 |
| 7/15/2025 | 15.84439923 | 15.65659939 | 9.229966775 | 10.94217185 |
| 8/15/2025 | 14.79496485 | 11.63444059 | 10.71513733 | 10.6264811 |
| 9/15/2025 | 13.4024707 | 9.638774254 | 9.512298054 | 13.84148796 |
| 10/15/2025 | 12.84365078 | 14.05548238 | 9.252552978 | 16.65682659 |
| 11/15/2025 | 12.76536694 | 14.3160972 | 9.726057355 | 11.22672195 |
| 12/15/2025 | 12.38047586 | 21.0398285 | 9.496679695 | 10.32473494 |
| 1/15/2026 | 14.13732507 | 25.21635466 | 13.53367411 | 11.09319175 |
Bottom right
Variance by 12-month growth
Core Services
| Period | U.S. | Canada | U.K. | Euro area |
|---|---|---|---|---|
| 1/15/2014 | 12.12447874 | 7.175795909 | 10.63396205 | 10.15338801 |
| 2/15/2014 | 11.44679121 | 8.524844353 | 10.98733821 | 13.92294303 |
| 3/15/2014 | 10.46173438 | 8.806357845 | 12.22558711 | 14.09394936 |
| 4/15/2014 | 10.64128871 | 17.47660664 | 16.99487109 | 10.67669837 |
| 5/15/2014 | 12.78599584 | 17.49526532 | 7.48309065 | 9.180212826 |
| 6/15/2014 | 13.71415184 | 18.00513517 | 7.424600134 | 21.31742938 |
| 7/15/2014 | 11.30606451 | 16.82405313 | 8.989352193 | 11.83793812 |
| 8/15/2014 | 13.87847446 | 18.69842649 | 12.99394096 | 22.60159163 |
| 9/15/2014 | 11.59116304 | 19.31678349 | 11.68598252 | 8.804080879 |
| 10/15/2014 | 11.81849989 | 18.91699061 | 10.69643794 | 6.34620653 |
| 11/15/2014 | 12.45089316 | 19.90292359 | 12.15972515 | 7.06288586 |
| 12/15/2014 | 14.2832271 | 18.35749229 | 11.63873966 | 17.05209667 |
| 1/15/2015 | 14.90339189 | 16.65327422 | 9.779193239 | 22.92597301 |
| 2/15/2015 | 12.4743958 | 15.51211865 | 11.51631885 | 12.195759 |
| 3/15/2015 | 13.73921845 | 14.89030543 | 12.63127968 | 9.953482484 |
| 4/15/2015 | 13.79487869 | 7.953724558 | 11.64760323 | 9.641527214 |
| 5/15/2015 | 13.11299964 | 7.387719722 | 15.31583781 | 9.35227819 |
| 6/15/2015 | 12.38945008 | 7.212610822 | 14.25159341 | 6.976783488 |
| 7/15/2015 | 12.00351155 | 7.162475016 | 16.78273405 | 8.193931717 |
| 8/15/2015 | 13.50979776 | 6.503643189 | 17.33725733 | 6.90478366 |
| 9/15/2015 | 13.4693752 | 8.365850678 | 15.38848211 | 14.03879853 |
| 10/15/2015 | 12.58964218 | 8.603111189 | 12.22611983 | 10.95837732 |
| 11/15/2015 | 12.38128837 | 8.097870055 | 12.34290442 | 11.21104476 |
| 12/15/2015 | 12.82421384 | 8.002609532 | 28.27102083 | 3.031522429 |
| 1/15/2016 | 11.75443796 | 9.156567388 | 14.83519373 | 2.774633052 |
| 2/15/2016 | 13.19522084 | 9.113333456 | 15.15265523 | 2.764058299 |
| 3/15/2016 | 13.3329026 | 7.846435036 | 18.02773694 | 3.180628091 |
| 4/15/2016 | 11.98860885 | 7.268979856 | 13.42644514 | 9.727547607 |
| 5/15/2016 | 14.01905113 | 7.396956663 | 16.08092934 | 47.0092014 |
| 6/15/2016 | 16.46711469 | 7.244387931 | 15.02317097 | 47.09956191 |
| 7/15/2016 | 15.52376283 | 8.475871361 | 12.69457466 | 60.02945099 |
| 8/15/2016 | 15.74298565 | 7.721638574 | 12.56516625 | 75.01900138 |
| 9/15/2016 | 18.08739979 | 10.53217701 | 13.56979548 | 51.48581975 |
| 10/15/2016 | 18.43069444 | 7.964608298 | 12.31313657 | 3.97624413 |
| 11/15/2016 | 18.55487644 | 7.896479295 | 8.542578204 | 5.412782572 |
| 12/15/2016 | 18.98827031 | 6.312481366 | 7.826436432 | 4.54022049 |
| 1/15/2017 | 15.10471192 | 7.446048379 | 6.982811419 | 4.595191957 |
| 2/15/2017 | 13.3863744 | 7.537829933 | 7.402589014 | 5.659599828 |
| 3/15/2017 | 13.17413244 | 8.584838008 | 16.50330275 | 5.318154387 |
| 4/15/2017 | 15.89754746 | 8.936518227 | 9.107778019 | 11.88718113 |
| 5/15/2017 | 13.74242736 | 9.912326601 | 6.949231751 | 6.535203799 |
| 6/15/2017 | 11.46051348 | 9.846042457 | 6.544411346 | 5.593214305 |
| 7/15/2017 | 12.83264948 | 9.072174269 | 7.395460165 | 3.881149432 |
| 8/15/2017 | 13.28857835 | 10.89889496 | 8.35972554 | 4.579767972 |
| 9/15/2017 | 11.46422576 | 11.83790327 | 8.865576621 | 5.504536634 |
| 10/15/2017 | 12.15760514 | 9.481337933 | 8.041793903 | 5.836644878 |
| 11/15/2017 | 12.80623226 | 10.19868033 | 8.352080869 | 4.251295162 |
| 12/15/2017 | 13.17138877 | 9.754061329 | 6.078162117 | 4.063693769 |
| 1/15/2018 | 13.69256928 | 9.810923893 | 8.276940943 | 7.439869297 |
| 2/15/2018 | 14.85027801 | 10.93467467 | 8.989474119 | 9.794782865 |
| 3/15/2018 | 15.30163336 | 10.7428758 | 8.582966069 | 10.20986341 |
| 4/15/2018 | 14.62931965 | 10.92347043 | 10.70334888 | 11.88173178 |
| 5/15/2018 | 15.61789745 | 8.830121527 | 9.416890629 | 11.11710961 |
| 6/15/2018 | 18.49917251 | 9.715192362 | 9.166800082 | 9.906671867 |
| 7/15/2018 | 16.52115775 | 14.23312523 | 9.533149719 | 10.29956441 |
| 8/15/2018 | 17.56008496 | 12.63199002 | 13.17007282 | 9.571536202 |
| 9/15/2018 | 15.52915955 | 6.557553098 | 9.45775335 | 9.535654063 |
| 10/15/2018 | 16.9323422 | 6.87310027 | 10.37187991 | 10.8997005 |
| 11/15/2018 | 17.02477952 | 7.122283967 | 10.27621194 | 10.98906427 |
| 12/15/2018 | 18.10787706 | 16.65165144 | 8.823293249 | 10.67285778 |
| 1/15/2019 | 16.79239616 | 12.37126259 | 10.15197307 | 5.939800615 |
| 2/15/2019 | 17.36184944 | 9.550880397 | 10.13440373 | 6.264734717 |
| 3/15/2019 | 18.78302133 | 12.01071617 | 7.934310991 | 8.697247035 |
| 4/15/2019 | 19.21614962 | 11.21774769 | 26.77432983 | 9.326465228 |
| 5/15/2019 | 17.07339266 | 10.22887299 | 8.996969478 | 9.309930658 |
| 6/15/2019 | 16.67032513 | 14.36867769 | 9.396716848 | 9.549638959 |
| 7/15/2019 | 17.76516742 | 9.355586694 | 6.442315391 | 7.617269806 |
| 8/15/2019 | 18.47239622 | 9.666504266 | 6.630031128 | 6.42067952 |
| 9/15/2019 | 19.08431703 | 9.254998247 | 8.157256337 | 6.373816501 |
| 10/15/2019 | 20.24445625 | 9.574542275 | 7.681382347 | 8.91204555 |
| 11/15/2019 | 19.84881666 | 8.109672357 | 8.760408886 | 6.265585965 |
| 12/15/2019 | 19.44489706 | 7.829672782 | 12.68994276 | 5.976438042 |
| 1/15/2020 | 23.10119797 | 10.19838734 | 9.500394454 | 6.426142005 |
| 2/15/2020 | 23.93668215 | 9.824529539 | 9.421973965 | 6.349694374 |
| 3/15/2020 | 25.38391555 | 9.232256673 | 9.933213128 | 5.576559542 |
| 4/15/2020 | 40.16454594 | 16.18226868 | 11.36123416 | 5.384694884 |
| 5/15/2020 | 49.43971845 | 21.71598598 | 9.852973399 | 4.781999268 |
| 6/15/2020 | 45.84167461 | 20.86139562 | 8.616692727 | 4.299373379 |
| 7/15/2020 | 36.68263101 | 28.65446988 | 9.940956087 | 5.373810016 |
| 8/15/2020 | 34.87289707 | 28.43168203 | 16.98057563 | 6.781603495 |
| 9/15/2020 | 37.60300232 | 19.22514578 | 12.70779872 | 7.192806756 |
| 10/15/2020 | 35.00889496 | 24.0071396 | 10.62919643 | 7.793529477 |
| 11/15/2020 | 29.10126457 | 22.62813164 | 11.39984018 | 6.910678759 |
| 12/15/2020 | 24.33012232 | 26.40938842 | 18.08120827 | 6.621796583 |
| 1/15/2021 | 26.90644769 | 29.48626896 | 17.41060609 | 5.263487034 |
| 2/15/2021 | 32.88535707 | 24.67982342 | 18.94315787 | 5.494963294 |
| 3/15/2021 | 32.47737601 | 28.50867616 | 18.35429163 | 7.2938115 |
| 4/15/2021 | 80.73323715 | 17.78125932 | 13.29112852 | 6.918607135 |
| 5/15/2021 | 137.4602164 | 21.51367232 | 11.90466611 | 6.468538293 |
| 6/15/2021 | 111.0125232 | 30.00945172 | 11.6077169 | 6.590678019 |
| 7/15/2021 | 85.43699702 | 27.63232829 | 13.65278028 | 6.696067139 |
| 8/15/2021 | 53.73570993 | 43.98676515 | 16.95381893 | 5.975816081 |
| 9/15/2021 | 40.10556332 | 61.415805 | 16.71398092 | 6.423855393 |
| 10/15/2021 | 38.28179239 | 53.99361571 | 23.40616719 | 5.831466163 |
| 11/15/2021 | 37.5377389 | 60.9495019 | 24.25961285 | 7.733191079 |
| 12/15/2021 | 39.77976217 | 40.81211021 | 31.51857021 | 7.575694005 |
| 1/15/2022 | 40.83242923 | 35.0833547 | 30.46961195 | 6.157440746 |
| 2/15/2022 | 41.7124447 | 32.50439984 | 30.99139317 | 6.771636677 |
| 3/15/2022 | 41.14119271 | 39.49417999 | 34.39202125 | 6.945585486 |
| 4/15/2022 | 40.27465061 | 53.10214247 | 29.42353115 | 13.52216886 |
| 5/15/2022 | 41.31994286 | 57.95167137 | 30.8171394 | 16.265885 |
| 6/15/2022 | 37.38606105 | 72.94656844 | 27.55551671 | 39.21326099 |
| 7/15/2022 | 36.83666148 | 86.05858334 | 37.72802573 | 48.38061782 |
| 8/15/2022 | 36.96302143 | 59.61475849 | 42.57078288 | 45.80945701 |
| 9/15/2022 | 45.56093777 | 43.88106026 | 42.19480537 | 19.15819298 |
| 10/15/2022 | 41.98139233 | 41.28408279 | 39.31963521 | 25.07974312 |
| 11/15/2022 | 38.18258734 | 43.66541756 | 40.196668 | 23.68476249 |
| 12/15/2022 | 34.16258419 | 33.90831439 | 52.81653409 | 24.6725004 |
| 1/15/2023 | 33.79792541 | 39.98004503 | 29.55254357 | 20.88076469 |
| 2/15/2023 | 32.75743337 | 44.57496269 | 34.48271704 | 22.16682189 |
| 3/15/2023 | 29.41731503 | 45.4395983 | 40.04223523 | 21.3648736 |
| 4/15/2023 | 28.92178592 | 36.14788338 | 31.46966715 | 18.15431872 |
| 5/15/2023 | 31.44077624 | 38.77937517 | 45.60809848 | 18.75665209 |
| 6/15/2023 | 35.79461841 | 32.98879825 | 46.99889154 | 21.37020102 |
| 7/15/2023 | 38.12815661 | 36.33030619 | 52.44519858 | 21.26069744 |
| 8/15/2023 | 38.74143694 | 36.28098365 | 44.69074442 | 23.13168035 |
| 9/15/2023 | 41.10236727 | 38.97341224 | 46.92893612 | 13.40040587 |
| 10/15/2023 | 37.61117537 | 37.88355216 | 44.33046503 | 12.94819974 |
| 11/15/2023 | 34.74749425 | 42.33572943 | 40.28076093 | 15.57309843 |
| 12/15/2023 | 32.43488397 | 34.6495253 | 39.48740613 | 12.15687806 |
| 1/15/2024 | 29.947639 | 32.14801532 | 34.95716556 | 13.6341837 |
| 2/15/2024 | 26.66545222 | 31.62335681 | 34.81387528 | 15.06439865 |
| 3/15/2024 | 27.4544539 | 34.44001728 | 34.92618345 | 14.20454248 |
| 4/15/2024 | 28.16958447 | 29.4735442 | 33.1360138 | 13.92892693 |
| 5/15/2024 | 26.70208281 | 28.39795645 | 32.46470385 | 12.4871328 |
| 6/15/2024 | 25.75670004 | 24.45196621 | 29.80985407 | 11.88287026 |
| 7/15/2024 | 24.60191917 | 21.19048354 | 25.74384965 | 15.01340059 |
| 8/15/2024 | 21.73500845 | 22.93860671 | 24.84659255 | 13.46748373 |
| 9/15/2024 | 18.73930409 | 18.92451552 | 22.11926886 | 13.16990885 |
| 10/15/2024 | 17.15602999 | 16.22893015 | 28.06121804 | 22.15749878 |
| 11/15/2024 | 16.04119401 | 19.05089378 | 24.04842783 | 22.11702863 |
| 12/15/2024 | 15.18372735 | 20.40731112 | 36.19568991 | 21.9470744 |
| 1/15/2025 | 16.19781926 | 18.13627514 | 19.83476191 | 22.00190914 |
| 2/15/2025 | 15.91391274 | 23.21070206 | 20.38690488 | 21.97259001 |
| 3/15/2025 | 15.61363696 | 22.48792316 | 21.11483436 | 22.64366358 |
| 4/15/2025 | 14.10448986 | 19.85027084 | 45.23829636 | 23.73991098 |
| 5/15/2025 | 15.09728757 | 19.51028151 | 35.43379224 | 11.68849314 |
| 6/15/2025 | 14.27315169 | 17.06473386 | 34.22719649 | 11.34448787 |
| 7/15/2025 | 14.10304494 | 18.75530135 | 36.09356365 | 10.7603472 |
| 8/15/2025 | 14.40282789 | 16.37432406 | 33.79383961 | 11.44561744 |
| 9/15/2025 | 13.57285031 | 17.47741016 | 33.8428768 | 10.7898316 |
| 10/15/2025 | 11.83981482 | 20.02715974 | 31.57874522 | 12.18157541 |
| 11/15/2025 | 12.87833606 | 21.78323933 | 33.38550092 | 10.87169782 |
| 12/15/2025 | 12.38150936 | 21.41867616 | 35.43527204 | 10.54587841 |
| 1/15/2026 | 12.85300536 | 17.9114383 | 36.01902479 | 9.773573233 |
Bottom right
Variance by 12-month growth
Core Services
| Period | U.S. | Canada | U.K. | Euro area |
|---|---|---|---|---|
| 1/15/2014 | 4.278727235 | 6.380307309 | 9.834287515 | 3.040525242 |
| 2/15/2014 | 4.685048228 | 8.268090798 | 10.44312316 | 2.858724051 |
| 3/15/2014 | 4.582346963 | 7.117405725 | 9.967028941 | 3.331440781 |
| 4/15/2014 | 3.269726513 | 25.29938016 | 19.02745876 | 4.615179568 |
| 5/15/2014 | 3.186418597 | 26.01650508 | 6.51941096 | 3.492655858 |
| 6/15/2014 | 3.227917623 | 25.21926309 | 5.41045391 | 3.106577388 |
| 7/15/2014 | 3.900994425 | 23.53743268 | 5.903304243 | 3.109323118 |
| 8/15/2014 | 5.024310797 | 25.24269639 | 6.611570744 | 2.398276585 |
| 9/15/2014 | 6.587718452 | 23.34161221 | 5.208236458 | 3.192542902 |
| 10/15/2014 | 6.249668608 | 21.8704579 | 5.622416232 | 2.124657803 |
| 11/15/2014 | 5.126139536 | 22.86732092 | 4.872965421 | 2.297089083 |
| 12/15/2014 | 4.885057803 | 22.27247324 | 4.94237322 | 3.174602354 |
| 1/15/2015 | 4.458826098 | 21.721393 | 4.996016491 | 2.616200268 |
| 2/15/2015 | 4.537415309 | 22.19688504 | 5.349212961 | 2.377040392 |
| 3/15/2015 | 5.943548268 | 22.29968359 | 6.826799397 | 2.823203724 |
| 4/15/2015 | 6.702330915 | 5.661780424 | 6.994492281 | 4.947447626 |
| 5/15/2015 | 5.361390952 | 4.802138274 | 7.882912442 | 10.52485323 |
| 6/15/2015 | 5.424673834 | 4.915990027 | 6.840947998 | 6.759718088 |
| 7/15/2015 | 4.473711565 | 5.146368666 | 7.188352414 | 9.464913523 |
| 8/15/2015 | 4.857588883 | 4.254677964 | 8.836201937 | 7.643602385 |
| 9/15/2015 | 4.689517789 | 5.933614807 | 8.220782882 | 8.229379706 |
| 10/15/2015 | 4.376075573 | 4.870169738 | 4.771276312 | 8.142674557 |
| 11/15/2015 | 4.563098477 | 4.746244143 | 5.900130139 | 2.708259948 |
| 12/15/2015 | 5.521926511 | 6.144627493 | 32.6281203 | 3.051725671 |
| 1/15/2016 | 5.045634869 | 5.356332923 | 7.723077579 | 2.500366968 |
| 2/15/2016 | 3.415003746 | 5.658523013 | 7.821562629 | 3.132732876 |
| 3/15/2016 | 2.569947098 | 5.850630723 | 14.02484823 | 3.401027513 |
| 4/15/2016 | 2.731421346 | 5.772292776 | 5.417890586 | 15.31179584 |
| 5/15/2016 | 3.352757186 | 6.606624438 | 11.41901829 | 84.71924002 |
| 6/15/2016 | 5.116950083 | 5.423514961 | 10.31522061 | 83.41294482 |
| 7/15/2016 | 4.179492973 | 7.387462009 | 11.4249068 | 108.1273121 |
| 8/15/2016 | 4.280196233 | 7.967494159 | 10.26872158 | 134.9179548 |
| 9/15/2016 | 4.280545179 | 11.4356736 | 14.48570543 | 90.80416681 |
| 10/15/2016 | 4.598769672 | 7.501463729 | 13.1929748 | 1.384914777 |
| 11/15/2016 | 5.529008349 | 6.221532027 | 7.578146222 | 3.55763047 |
| 12/15/2016 | 7.023523705 | 4.067438553 | 6.100987019 | 3.319020454 |
| 1/15/2017 | 4.716456103 | 2.887065076 | 6.124664673 | 3.548906809 |
| 2/15/2017 | 3.980120649 | 3.61740606 | 9.099100727 | 4.438058378 |
| 3/15/2017 | 6.762122724 | 7.161505026 | 26.5165762 | 4.499647096 |
| 4/15/2017 | 7.720983363 | 7.638096012 | 11.22248557 | 16.9844023 |
| 5/15/2017 | 8.174767977 | 8.58594214 | 7.741737589 | 7.432640294 |
| 6/15/2017 | 8.588087998 | 8.687953887 | 6.774762583 | 5.839474463 |
| 7/15/2017 | 8.407336896 | 8.416968692 | 7.404515649 | 2.890535488 |
| 8/15/2017 | 7.514269248 | 9.789334997 | 8.281108046 | 4.213938315 |
| 9/15/2017 | 7.134474694 | 11.61800432 | 8.896912744 | 6.630759684 |
| 10/15/2017 | 6.65553689 | 7.931488785 | 10.77286767 | 7.398281296 |
| 11/15/2017 | 7.950127188 | 8.223173698 | 10.04847128 | 4.625943653 |
| 12/15/2017 | 7.733106061 | 5.624515005 | 5.935388302 | 4.740997752 |
| 1/15/2018 | 8.269561735 | 7.07092814 | 6.728357274 | 3.699130946 |
| 2/15/2018 | 8.25816293 | 7.900241156 | 6.363286068 | 4.342990727 |
| 3/15/2018 | 6.147593833 | 9.552406415 | 6.869178659 | 5.231749682 |
| 4/15/2018 | 6.39796582 | 10.9028123 | 11.81780447 | 9.844837033 |
| 5/15/2018 | 6.314649567 | 9.220361507 | 5.796577972 | 6.535848103 |
| 6/15/2018 | 7.289035535 | 13.65733872 | 5.036591615 | 4.365006115 |
| 7/15/2018 | 6.747234015 | 22.64447397 | 8.582590513 | 4.302824937 |
| 8/15/2018 | 5.481202678 | 19.24968062 | 13.62891732 | 4.174235978 |
| 9/15/2018 | 4.319813318 | 7.992279227 | 9.98848043 | 3.853896127 |
| 10/15/2018 | 4.303731888 | 7.245210831 | 9.411821589 | 2.637203849 |
| 11/15/2018 | 5.056818009 | 7.859376888 | 12.13789338 | 2.714288903 |
| 12/15/2018 | 4.326754963 | 22.05756078 | 11.51911334 | 2.700831623 |
| 1/15/2019 | 3.84090442 | 5.963543045 | 11.72105044 | 2.151643445 |
| 2/15/2019 | 4.438043614 | 10.29462875 | 11.77747521 | 3.17864173 |
| 3/15/2019 | 5.872155481 | 12.80531053 | 9.144277026 | 3.526400385 |
| 4/15/2019 | 5.94077245 | 15.10527014 | 41.97817342 | 4.917538725 |
| 5/15/2019 | 4.872385051 | 12.53671212 | 8.072962821 | 4.026922092 |
| 6/15/2019 | 6.700233846 | 12.28497467 | 9.699754775 | 3.030278794 |
| 7/15/2019 | 8.497720648 | 10.87747325 | 2.525043219 | 3.646653896 |
| 8/15/2019 | 10.1706457 | 13.1571224 | 4.49836001 | 2.704898188 |
| 9/15/2019 | 10.87159393 | 11.05810636 | 3.66035756 | 2.609508073 |
| 10/15/2019 | 11.07392658 | 10.40802766 | 4.001841667 | 7.936958018 |
| 11/15/2019 | 11.92445558 | 8.796020872 | 3.941253269 | 2.529936642 |
| 12/15/2019 | 12.65183544 | 8.766665989 | 6.951816277 | 2.277114298 |
| 1/15/2020 | 13.34804859 | 10.23966833 | 5.658816967 | 3.490927689 |
| 2/15/2020 | 14.1837183 | 9.456665992 | 3.405457422 | 2.619748647 |
| 3/15/2020 | 20.65915779 | 9.023889209 | 6.045772843 | 2.624468934 |
| 4/15/2020 | 46.32498838 | 15.71479112 | 5.568509104 | 3.798046342 |
| 5/15/2020 | 60.29297102 | 22.54655094 | 4.951778587 | 3.142310032 |
| 6/15/2020 | 47.22669865 | 29.2467169 | 5.010153998 | 1.971689383 |
| 7/15/2020 | 34.72589535 | 28.33791143 | 10.01484872 | 3.041120343 |
| 8/15/2020 | 33.22016385 | 31.42759901 | 26.2686285 | 6.630623425 |
| 9/15/2020 | 33.52106926 | 26.46019937 | 13.97241377 | 6.787607457 |
| 10/15/2020 | 28.92836135 | 25.01250424 | 12.72561408 | 8.479133026 |
| 11/15/2020 | 23.42500942 | 23.96970358 | 10.1642503 | 6.720149036 |
| 12/15/2020 | 21.04283121 | 32.08549628 | 21.19934969 | 5.704067693 |
| 1/15/2021 | 25.69123678 | 37.07365824 | 17.25761867 | 3.217523135 |
| 2/15/2021 | 34.31102881 | 23.09082634 | 20.24057746 | 3.532650945 |
| 3/15/2021 | 36.14214057 | 33.58257299 | 22.62563833 | 2.889994136 |
| 4/15/2021 | 159.3675477 | 25.05037326 | 17.52587222 | 5.091928921 |
| 5/15/2021 | 287.5902418 | 26.97733704 | 15.14131643 | 5.03185793 |
| 6/15/2021 | 196.6464998 | 45.00889726 | 13.39902903 | 6.050851948 |
| 7/15/2021 | 140.5345809 | 42.08614602 | 9.769464961 | 5.687548087 |
| 8/15/2021 | 74.70678361 | 81.03127997 | 16.11662249 | 5.516114706 |
| 9/15/2021 | 53.51310508 | 117.8172128 | 11.53298314 | 6.886125196 |
| 10/15/2021 | 50.33071562 | 106.053227 | 18.47694557 | 6.768378031 |
| 11/15/2021 | 44.65258338 | 126.2169701 | 17.01638014 | 8.844161899 |
| 12/15/2021 | 44.17251641 | 71.12700921 | 30.43569523 | 9.199763705 |
| 1/15/2022 | 32.3274071 | 57.14746225 | 24.09364356 | 6.205808057 |
| 2/15/2022 | 35.4782875 | 46.29706862 | 21.70878125 | 5.628093268 |
| 3/15/2022 | 40.96326362 | 60.46507589 | 22.10370854 | 5.668355257 |
| 4/15/2022 | 38.32944067 | 81.67581104 | 19.76760787 | 16.05374751 |
| 5/15/2022 | 47.02476022 | 92.33077514 | 27.37724497 | 19.83719043 |
| 6/15/2022 | 39.98576421 | 123.9918796 | 27.21104019 | 62.89896253 |
| 7/15/2022 | 37.27165018 | 162.8116309 | 51.44477646 | 78.78774596 |
| 8/15/2022 | 40.56651042 | 97.19053835 | 60.43350195 | 73.53364594 |
| 9/15/2022 | 61.38014341 | 68.77541467 | 55.90039828 | 23.34572673 |
| 10/15/2022 | 54.14789122 | 58.46513423 | 49.38584496 | 32.9296882 |
| 11/15/2022 | 40.58933058 | 67.13802682 | 51.22117471 | 28.44121052 |
| 12/15/2022 | 30.2517765 | 53.26114814 | 74.65619271 | 30.20329126 |
| 1/15/2023 | 28.5294538 | 62.35259717 | 28.11069409 | 23.52576266 |
| 2/15/2023 | 29.08554501 | 75.67949727 | 36.15036081 | 26.9593677 |
| 3/15/2023 | 28.81670025 | 70.83424178 | 49.82443575 | 26.60961286 |
| 4/15/2023 | 33.41562811 | 55.77187131 | 43.19910517 | 21.61884156 |
| 5/15/2023 | 45.79584407 | 56.92173871 | 63.69412442 | 22.27699033 |
| 6/15/2023 | 56.26539786 | 49.60590825 | 72.87148643 | 29.60265276 |
| 7/15/2023 | 60.93110174 | 52.93694369 | 83.31630609 | 30.92574617 |
| 8/15/2023 | 59.32877157 | 59.87599158 | 65.97616864 | 32.85950895 |
| 9/15/2023 | 65.25955744 | 63.51945286 | 70.54591933 | 14.23337742 |
| 10/15/2023 | 61.53617428 | 61.65860796 | 67.1075092 | 14.66887126 |
| 11/15/2023 | 52.47231477 | 72.11358496 | 57.77906464 | 18.63954064 |
| 12/15/2023 | 47.10025765 | 54.6302714 | 54.21594223 | 12.29357946 |
| 1/15/2024 | 40.39504812 | 43.94103515 | 46.60526858 | 14.12416053 |
| 2/15/2024 | 34.28516806 | 42.34894878 | 41.73384142 | 12.76752715 |
| 3/15/2024 | 34.30380203 | 55.42090373 | 35.45696704 | 13.12588219 |
| 4/15/2024 | 29.83029894 | 44.62213721 | 31.16621264 | 15.23338165 |
| 5/15/2024 | 24.62917151 | 38.91128837 | 27.48512614 | 10.07016088 |
| 6/15/2024 | 19.33739201 | 31.69569918 | 23.48676056 | 9.541960414 |
| 7/15/2024 | 16.98727347 | 27.66830167 | 26.73286733 | 13.69107768 |
| 8/15/2024 | 14.45615026 | 27.61011036 | 22.55486129 | 11.15938232 |
| 9/15/2024 | 15.4314929 | 17.75228895 | 17.8766269 | 11.70564926 |
| 10/15/2024 | 14.08068497 | 20.17961563 | 31.91208112 | 28.83873938 |
| 11/15/2024 | 12.60073777 | 21.55793426 | 27.69907418 | 29.97349309 |
| 12/15/2024 | 12.28627585 | 17.17436897 | 59.1037646 | 28.90044959 |
| 1/15/2025 | 9.99151937 | 17.11320726 | 26.61795935 | 27.97653787 |
| 2/15/2025 | 9.372623664 | 27.53579341 | 29.82958143 | 27.96677453 |
| 3/15/2025 | 11.08769363 | 32.38525625 | 30.49219655 | 30.45686995 |
| 4/15/2025 | 8.974853868 | 26.45656406 | 70.0803345 | 30.95526953 |
| 5/15/2025 | 8.685525763 | 26.08001665 | 59.56820106 | 11.63223897 |
| 6/15/2025 | 7.748942636 | 20.4726002 | 57.15752478 | 9.426276508 |
| 7/15/2025 | 8.864282842 | 22.3188537 | 58.84860405 | 7.878224166 |
| 8/15/2025 | 12.17732339 | 21.74588366 | 54.51725013 | 9.411682817 |
| 9/15/2025 | 12.24949691 | 27.62123184 | 53.4689653 | 5.896612912 |
| 10/15/2025 | 9.039822556 | 27.86857383 | 49.10622805 | 5.3101596 |
| 11/15/2025 | 12.19745473 | 32.32876615 | 53.02429621 | 6.51170138 |
| 12/15/2025 | 11.79058393 | 22.43548592 | 55.44357369 | 5.400277585 |
| 1/15/2026 | 10.86251301 | 8.128815459 | 50.90986201 | 5.073496392 |
Note: Cross-sectional variances are constructed using the total number of CPI items within a specific year and month as a sample. Data extend through January 2026 for all counties. Missing U.S. CPI data for October 2025 were estimated through linear interpolation.
Source: Haver Analytics; Federal Reserve Board staff calculations.
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