{"id":8790,"date":"2024-01-01T05:00:38","date_gmt":"2024-01-01T05:00:38","guid":{"rendered":"https:\/\/www.rbc.com\/en\/thought-leadership\/u-s-inflation-watch-archive\/"},"modified":"2024-01-01T05:00:38","modified_gmt":"2024-01-01T05:00:38","slug":"u-s-inflation-watch-archive","status":"publish","type":"rbc_tl","link":"https:\/\/www.rbc.com\/en\/thought-leadership\/economics\/u-s-inflation-watch-archive\/","title":{"rendered":"U.S. Inflation Watch &#8211; Archive"},"content":{"rendered":"<p><em>Note: This page is now archived. Recent updates to the RBC U.S. Inflation watch <a href=\"https:\/\/thoughtleadership.rbc.com\/rbc-us-inflation-watch\/\" rel=\"noopener\" target=\"_blank\"><em>here<\/em><\/a>.<\/em> <\/p>\n<div id=\"accordionSet1\" class=\"accordion\">\n<div class=\"accordion-panel\"><button id=\"accordion-title0712\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0712\" data-toggle=\"collapse\" data-parent=\"#accordionSet0712\" aria-expanded=\"false\" aria-controls=\"accordion0712\">Widespread moderation in U.S. headline inflation in June<br \/>\n<span class=\"text-disclaimer\"> See update from July 12, 2023<\/span><\/button><\/p>\n<div id=\"accordion0712\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0712\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Deceleration in food and energy prices drove U.S. headline inflation lower.<\/li>\n<li>Core services excluding rent (Fed\u2019s preferred inflation gauge) also improved, and breadth of inflationary pressure continued to narrow, but still above pre-pandemic level.<\/li>\n<li>Consumer demand for goods remained steady, while manufacturing prices fell below pre-pandemic levels due to easing in supply chain pressures.<\/li>\n<li>Despite persistent slowing in price growth, wage growth remained stubborn.<\/li>\n<\/ul>\n<div id=\"everviz-JHsTj6wD7\" class=\"everviz-JHsTj6wD7\"><script src=\"https:\/\/app.everviz.com\/inject\/JHsTj6wD7\/?v=2\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-dqbOlNY3n\" class=\"everviz-dqbOlNY3n\"><script src=\"https:\/\/app.everviz.com\/inject\/dqbOlNY3n\/?v=2\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-L6WvO1Nut\" class=\"everviz-L6WvO1Nut\"><script src=\"https:\/\/app.everviz.com\/inject\/L6WvO1Nut\/?v=2\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-NQnEcjZEg\" class=\"everviz-NQnEcjZEg\"><script src=\"https:\/\/app.everviz.com\/inject\/NQnEcjZEg\/?v=2\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-uec8j6RXo\" class=\"everviz-uec8j6RXo\"><script src=\"https:\/\/app.everviz.com\/inject\/uec8j6RXo\/?v=2\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-panel\"><button id=\"accordion-title0613\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0613\" data-toggle=\"collapse\" data-parent=\"#accordionSet0613\" aria-expanded=\"false\" aria-controls=\"accordion0613\">U.S. inflation pressures showed further signs of easing in May<br \/>\n<span class=\"text-disclaimer\"> See update from June 16, 2023<\/span><\/button><\/p>\n<div id=\"accordion0613\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0613\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>CPI growth slowed sharply in May as gasoline prices moved lower from a year ago and food price growth slowed<\/li>\n<li>Core (ex-food &#038; energy) prices are still growing too fast, but the breadth of inflation pressures continues to ease<\/li>\n<li>Rent and food price inflation appear to be past their peaks<\/li>\n<li>Fed\u2019s current preferred inflation gauge (core services excluding shelter) continued to edge lower <\/li>\n<\/ul>\n<div id=\"everviz--3jsI75QE\" class=\"everviz--3jsI75QE\"><script src=\"https:\/\/app.everviz.com\/inject\/-3jsI75QE\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-7fIQqClFi\" class=\"everviz-7fIQqClFi\"><script src=\"https:\/\/app.everviz.com\/inject\/7fIQqClFi\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-T2UKOOi2j\" class=\"everviz-T2UKOOi2j\"><script src=\"https:\/\/app.everviz.com\/inject\/T2UKOOi2j\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz--9dJewxWn\" class=\"everviz--9dJewxWn\"><script src=\"https:\/\/app.everviz.com\/inject\/-9dJewxWn\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-NRwdmNFEX\" class=\"everviz-NRwdmNFEX\"><script src=\"https:\/\/app.everviz.com\/inject\/NRwdmNFEX\/?v=1\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-panel\"><button id=\"accordion-title0510\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0510\" data-toggle=\"collapse\" data-parent=\"#accordionSet0510\" aria-expanded=\"false\" aria-controls=\"accordion0510\">U.S. price pressures eased again in April<br \/>\n<span class=\"text-disclaimer\"> See update from May 10, 2023<\/span><\/button><\/p>\n<div id=\"accordion0510\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0510\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Headline and core (ex-food &#038; energy) inflation both edged lower in April.<\/li>\n<li>Home rents are still driving the majority of core price growth\u2014but has continued to slow gradually as leases are renewed at current market rates.<\/li>\n<li>The Fed\u2019s preferred core services measure (which excludes shelter) ticked lower and the breadth of inflation show more signs of improvement.<\/li>\n<\/ul>\n<div id=\"everviz-jPROWBSz1\" class=\"everviz-jPROWBSz1\"><script src=\"https:\/\/app.everviz.com\/inject\/jPROWBSz1\/?v=4\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-hUMwKrTBq\" class=\"everviz-hUMwKrTBq\"><script src=\"https:\/\/app.everviz.com\/inject\/hUMwKrTBq\/?v=4\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-zGSwu2vQ-\" class=\"everviz-zGSwu2vQ-\"><script src=\"https:\/\/app.everviz.com\/inject\/zGSwu2vQ-\/?v=4\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-wGaUQw60n\" class=\"everviz-wGaUQw60n\"><script src=\"https:\/\/app.everviz.com\/inject\/wGaUQw60n\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-ynOVhTOLW\" class=\"everviz-ynOVhTOLW\"><script src=\"https:\/\/app.everviz.com\/inject\/ynOVhTOLW\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-panel\"><button id=\"accordion-title0417\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0417\" data-toggle=\"collapse\" data-parent=\"#accordionSet0417\" aria-expanded=\"false\" aria-controls=\"accordion0417\">U.S. inflation pressures edged lower in March<br \/>\n<span class=\"text-disclaimer\"> See update from April 17, 2023<\/span><\/button><\/p>\n<div id=\"accordion0417\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0417\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Headline inflation readings were lower again, and the range of goods and services impacted by higher-than-normal inflation narrowed<\/li>\n<li>Slowing demand and easing supply chain conditions pushed goods inflation lower, although services CPI (ex-rent and energy) was still firm<\/li>\n<li>Consumers\u2019 inflation expectations (for the next year) continued to move lower<\/li>\n<li>Grocery price growth slowed significantly from a year ago, and posed its first decline since August 2021<\/li>\n<\/ul>\n<div id=\"everviz-RkiAhCTRc\" class=\"everviz-RkiAhCTRc\"><script src=\"https:\/\/app.everviz.com\/inject\/RkiAhCTRc\/?v=9\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-i68ENwqWC\" class=\"everviz-i68ENwqWC\"><script src=\"https:\/\/app.everviz.com\/inject\/i68ENwqWC\/?v=6\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-VLO_QAHw5\" class=\"everviz-VLO_QAHw5\"><script src=\"https:\/\/app.everviz.com\/inject\/VLO_QAHw5\/?v=8\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-QoQgXsxS0\" class=\"everviz-QoQgXsxS0\"><script src=\"https:\/\/app.everviz.com\/inject\/QoQgXsxS0\/?v=4\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-elMDCQi0I\" class=\"everviz-elMDCQi0I\"><script src=\"https:\/\/app.everviz.com\/inject\/elMDCQi0I\/?v=5\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-MpL6o59b5\" class=\"everviz-MpL6o59b5\"><script src=\"https:\/\/app.everviz.com\/inject\/MpL6o59b5\/?v=4\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-panel\"><button id=\"accordion-title0214\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0214\" data-toggle=\"collapse\" data-parent=\"#accordionSet0214\" aria-expanded=\"false\" aria-controls=\"accordion0214\">U.S. inflation pressures still firm but easing despite labour squeeze<br \/>\n<span class=\"text-disclaimer\"> See update from February 14, 2023<\/span><\/button><\/p>\n<div id=\"accordion0214\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0214\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Inflation pressures remain elevated but are slowing and narrowing<\/li>\n<li>Commodity prices are back below year-ago levels as global inflationary pressures ease<\/li>\n<li>Exceptionally tight labour markets could reignite domestic inflation drivers, although wage growth has also been slowing<\/li>\n<li>Consumer inflation expectations have been edging lower<\/li>\n<\/ul>\n<div id=\"everviz-S5nRVXlJr\" class=\"everviz-S5nRVXlJr\"><script src=\"https:\/\/app.everviz.com\/inject\/S5nRVXlJr\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-8eFao0KN2\" class=\"everviz-8eFao0KN2\"><script src=\"https:\/\/app.everviz.com\/inject\/8eFao0KN2\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz--IMCKpNv3\" class=\"everviz--IMCKpNv3\"><script src=\"https:\/\/app.everviz.com\/inject\/-IMCKpNv3\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-jWfRphxHj\" class=\"everviz-jWfRphxHj\"><script src=\"https:\/\/app.everviz.com\/inject\/jWfRphxHj\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-x-2GKniPw\" class=\"everviz-x-2GKniPw\"><script src=\"https:\/\/app.everviz.com\/inject\/x-2GKniPw\/?v=5\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-panel\"><button id=\"accordion-title0112\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0112\" data-toggle=\"collapse\" data-parent=\"#accordionSet0112\" aria-expanded=\"false\" aria-controls=\"accordion0112\">Inflation pressures passed the peak in the U.S.<br \/>\n<span class=\"text-disclaimer\"> See update from January 12, 2023<\/span><\/button><\/p>\n<div id=\"accordion0112\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0112\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Inflation pressures showing further signs of easing and breadth of pressure narrowing<\/li>\n<li>Rising rents increasingly the main driver of price pressure, but will soften in year ahead with current market rates slowing<\/li>\n<li>Consumer demand flattening at elevated levels but expected to fall, as interest rate increases to-date bite more into households\u2019 spending power<\/li>\n<\/ul>\n<div id=\"everviz-xskdfdlur\" class=\"everviz-xskdfdlur\"><script src=\"https:\/\/app.everviz.com\/inject\/xskdfdlur\/?v=1\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-dNKwujqhD\" class=\"everviz-dNKwujqhD\"><script src=\"https:\/\/app.everviz.com\/inject\/dNKwujqhD\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-jERqGg7xH\" class=\"everviz-jERqGg7xH\"><script src=\"https:\/\/app.everviz.com\/inject\/jERqGg7xH\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-GTMYpmhZl\" class=\"everviz-GTMYpmhZl\"><script src=\"https:\/\/app.everviz.com\/inject\/GTMYpmhZl\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-oPO1xO1xG\" class=\"everviz-oPO1xO1xG\"><script src=\"https:\/\/app.everviz.com\/inject\/oPO1xO1xG\/?v=2\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-sCjvBe1uq\" class=\"everviz-sCjvBe1uq\"><script src=\"https:\/\/app.everviz.com\/inject\/sCjvBe1uq\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-panel\"><button id=\"accordion-title1110\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion1110\" data-toggle=\"collapse\" data-parent=\"#accordionSet1110\" aria-expanded=\"false\" aria-controls=\"accordion1110\">Early signs of easing in U.S. inflation in October<br \/>\n<span class=\"text-disclaimer\"> See update from November 10, 2022<\/span><\/button><\/p>\n<div id=\"accordion1110\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title1110\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Surge in home rent prices close to peak, and ex-shelter inflation showing signs of slowing<\/li>\n<li>Supply chains returning back closer to pre-pandemic conditions<\/li>\n<li>Elevated wage growth and broad inflation pressure mean the Fed will continue to hike interest rates for now<\/li>\n<\/ul>\n<div id=\"everviz-A-drD3h3U\" class=\"everviz-A-drD3h3U\"><script src=\"https:\/\/app.everviz.com\/inject\/A-drD3h3U\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-6blA0b-xO\" class=\"everviz-6blA0b-xO\"><script src=\"https:\/\/app.everviz.com\/inject\/6blA0b-xO\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-uDpWeH0zm\" class=\"everviz-uDpWeH0zm\"><script src=\"https:\/\/app.everviz.com\/inject\/uDpWeH0zm\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-EbdNFidRz\" class=\"everviz-EbdNFidRz\"><script src=\"https:\/\/app.everviz.com\/inject\/EbdNFidRz\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-n7w54cm_g\" class=\"everviz-n7w54cm_g\"><script src=\"https:\/\/app.everviz.com\/inject\/n7w54cm_g\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-wP5qo3dqa\" class=\"everviz-wP5qo3dqa\"><script src=\"https:\/\/app.everviz.com\/inject\/wP5qo3dqa\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-panel\"><button id=\"accordion-title1013\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0913\" data-toggle=\"collapse\" data-parent=\"#accordionSet1013\" aria-expanded=\"false\" aria-controls=\"accordion1013\">Lower gasoline prices led to another decline in September&#8217;s U.S. headline CPI<br \/>\n<span class=\"text-disclaimer\"> See update from October 13, 2022<\/span><\/button><\/p>\n<div id=\"accordion1013\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title1013\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>But higher rent prices increasingly driver of monthly price growth<\/li>\n<li>Consumer demand for goods continues to moderate but remains elevated for services<\/li>\n<li>Price pressures still too high and broad-based to prevent further Fed rate hikes<\/li>\n<li>Upcoming recession to further cool pressure in 2023; Inflation expectations still dialing lower<\/li>\n<\/ul>\n<div id=\"everviz-xDNGSEn_o\" class=\"everviz-xDNGSEn_o\"><script src=\"https:\/\/app.everviz.com\/inject\/xDNGSEn_o\/?v=4\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-2NPfYTPRB\" class=\"everviz-2NPfYTPRB\"><script src=\"https:\/\/app.everviz.com\/inject\/2NPfYTPRB\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-l-9jNwitQ\" class=\"everviz-l-9jNwitQ\"><script src=\"https:\/\/app.everviz.com\/inject\/l-9jNwitQ\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-D9an8z1x_\" class=\"everviz-D9an8z1x_\"><script src=\"https:\/\/app.everviz.com\/inject\/D9an8z1x_\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-xQssFIMg_\" class=\"everviz-xQssFIMg_\"><script src=\"https:\/\/app.everviz.com\/inject\/xQssFIMg_\/?v=3\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-MzQp6Y65Z\" class=\"everviz-MzQp6Y65Z\"><script src=\"https:\/\/app.everviz.com\/inject\/MzQp6Y65Z\/?v=8\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<p><!-- --><\/p>\n<div class=\"accordion-panel\"><button id=\"accordion-title0913\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0913\" data-toggle=\"collapse\" data-parent=\"#accordionSet0913\" aria-expanded=\"false\" aria-controls=\"accordion0913\">U.S. headline CPI declined again in August following lower gas prices<br \/>\n<span class=\"text-disclaimer\"> See update from September 13, 2022<\/span><\/button><\/p>\n<div id=\"accordion0913\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0913\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Inflation expectations might also have peaked but remain elevated<\/li>\n<li>Services products are taking over as main inflation driver in the U.S.<\/li>\n<li>Still broad-based price pressure demands more rate hikes to cool<\/li>\n<\/ul>\n<div id=\"everviz-sE1RhcSDH\" class=\"everviz-sE1RhcSDH\"><script src=\"https:\/\/app.everviz.com\/inject\/sE1RhcSDH\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-eDOSkCYSs\" class=\"everviz-eDOSkCYSs\"><script src=\"https:\/\/app.everviz.com\/inject\/eDOSkCYSs\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-Ux5HGlBha\" class=\"everviz-Ux5HGlBha\"><script src=\"https:\/\/app.everviz.com\/inject\/Ux5HGlBha\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-6AP-j-wpk\" class=\"everviz-6AP-j-wpk\"><script src=\"https:\/\/app.everviz.com\/inject\/6AP-j-wpk\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-34eteKP5w\" class=\"everviz-34eteKP5w\"><script src=\"https:\/\/app.everviz.com\/inject\/34eteKP5w\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<p><!-- --><\/p>\n<div class=\"accordion-panel\"><button id=\"accordion-title0822\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0822\" data-toggle=\"collapse\" data-parent=\"#accordionSet0822\" aria-expanded=\"false\" aria-controls=\"accordion0822\">U.S. inflation dialed lower in July from multi-decade high<br \/>\n<span class=\"text-disclaimer\"> See update from August 10, 2022<\/span><\/button><\/p>\n<div id=\"accordion0822\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0822\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Lower gasoline prices offset higher rents to push the headline inflation reading lower<\/li>\n<li>Global supply chain pressures have continued to ease<\/li>\n<li>Domestic demand for goods also slowing as inflation bites harder into real spending power<\/li>\n<li>Inflation pressure still too high and broad; the Fed expected to continue to hike rates<\/li>\n<\/ul>\n<div id=\"everviz-b7w9FG-x4\" class=\"everviz-b7w9FG-x4\"><script src=\"https:\/\/app.everviz.com\/inject\/b7w9FG-x4\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-FHC3akvag\" class=\"everviz-FHC3akvag\"><script src=\"https:\/\/app.everviz.com\/inject\/FHC3akvag\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-dcJW8VrDx\" class=\"everviz-dcJW8VrDx\"><script src=\"https:\/\/app.everviz.com\/inject\/dcJW8VrDx\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-kvMESqBgD\" class=\"everviz-kvMESqBgD\"><script src=\"https:\/\/app.everviz.com\/inject\/kvMESqBgD\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-e82ge2qhz\" class=\"everviz-e82ge2qhz\"><script src=\"https:\/\/app.everviz.com\/inject\/e82ge2qhz\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<p><!-- --><\/p>\n<div class=\"accordion-panel\"><button id=\"accordion-title0722\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0722\" data-toggle=\"collapse\" data-parent=\"#accordionSet0722\" aria-expanded=\"false\" aria-controls=\"accordion0722\">U.S. inflation close to peaking, but pressures still too broad for the Fed<br \/>\n<span class=\"text-disclaimer\"> See update from July 13, 2022<\/span><\/button><\/p>\n<div id=\"accordion0722\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0722\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>CPI reading still rose in June on higher energy prices, but may be close to peaking<\/li>\n<li>Price pressures still very broad, but showing signs of plateauing as global supply chain disruptions ease and key commodity prices fall<\/li>\n<li>Rising rent costs to put a floor under core CPI readings, and underlying inflation trends still too strong to delay Fed rate hikes<\/li>\n<\/ul>\n<div id=\"everviz-zeqfMnyB3\" class=\"everviz-zeqfMnyB3\"><script src=\"https:\/\/app.everviz.com\/inject\/zeqfMnyB3\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-JeFKkgH9q\" class=\"everviz-JeFKkgH9q\"><script src=\"https:\/\/app.everviz.com\/inject\/JeFKkgH9q\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-9M9nmmMKC\" class=\"everviz-9M9nmmMKC\"><script src=\"https:\/\/app.everviz.com\/inject\/9M9nmmMKC\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-c94hSEFFM\" class=\"everviz-c94hSEFFM\"><script src=\"https:\/\/app.everviz.com\/inject\/c94hSEFFM\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-FUwVzPgNg\" class=\"everviz-FUwVzPgNg\"><script src=\"https:\/\/app.everviz.com\/inject\/FUwVzPgNg\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<p><!-- --><\/p>\n<div class=\"accordion-panel\"><button id=\"accordion-title0622\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0622\" data-toggle=\"collapse\" data-parent=\"#accordionSet0622\" aria-expanded=\"false\" aria-controls=\"accordion0622\">An Upside Surprise: U.S. Inflation heats up in May<br \/>\n<span class=\"text-disclaimer\"> See update from June 10, 2022<\/span><\/button><\/p>\n<div id=\"accordion0622\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0622\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>U.S. inflation growth trended higher in May, up 8.6% year-over-year<\/li>\n<li>Pressures are still extremely broad-based, with prices for over half of all items in the CPI basket growing faster than 4% annually compared to pre-pandemic levels.<\/li>\n<li>Goods price growth still strong while shipping costs are cooling<\/li>\n<li>Shorter-term inflation expectations are soaring higher; longer-term expectations more moderate but also trending up<\/li>\n<\/ul>\n<hr \/>\n<div id=\"everviz-aDLgqQ70M\" class=\"everviz-aDLgqQ70M\"><script src=\"https:\/\/app.everviz.com\/inject\/aDLgqQ70M\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-xE7FAvFjc\" class=\"everviz-xE7FAvFjc\"><script src=\"https:\/\/app.everviz.com\/inject\/xE7FAvFjc\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-GL1Org-rk\" class=\"everviz-GL1Org-rk\"><script src=\"https:\/\/app.everviz.com\/inject\/GL1Org-rk\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-hkk0pbOO4\" class=\"everviz-hkk0pbOO4\"><script src=\"https:\/\/app.everviz.com\/inject\/hkk0pbOO4\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-gqNwVvYjM\" class=\"everviz-gqNwVvYjM\"><script src=\"https:\/\/app.everviz.com\/inject\/gqNwVvYjM\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<p><!-- --><\/p>\n<div class=\"accordion-panel\"><button id=\"accordion-title0522\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0522\" data-toggle=\"collapse\" data-parent=\"#accordionSet0522\" aria-expanded=\"false\" aria-controls=\"accordion0522\">U.S. inflation pressure still broad despite slowdown in April<br \/>\n<span class=\"text-disclaimer\"> See update from May 11, 2022<\/span><\/button><\/p>\n<div id=\"accordion0522\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0522\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Headline price growth eased in April as gasoline and used car prices edged lower (at extremely elevated levels).<\/li>\n<li>Price pressure still broad; more supply chain headwinds from Chinese lockdowns and Ukraine war.<\/li>\n<li>Wage growth accelerating, consumers&#8217; inflation expectations continued to rise.<\/li>\n<\/ul>\n<hr \/>\n<div id=\"everviz-YdjSt_7qn\" class=\"everviz-YdjSt_7qn\"><script src=\"https:\/\/app.everviz.com\/inject\/YdjSt_7qn\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-daquiSIYg\" class=\"everviz-daquiSIYg\"><script src=\"https:\/\/app.everviz.com\/inject\/daquiSIYg\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-WUFRt5u0K\" class=\"everviz-WUFRt5u0K\"><script src=\"https:\/\/app.everviz.com\/inject\/WUFRt5u0K\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-uMLkBzDUs\" class=\"everviz-uMLkBzDUs\"><script src=\"https:\/\/app.everviz.com\/inject\/uMLkBzDUs\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-gAoaWUhTM\" class=\"everviz-gAoaWUhTM\"><script src=\"https:\/\/app.everviz.com\/inject\/gAoaWUhTM\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<p><!-- --><\/p>\n<div class=\"accordion-panel\"><button id=\"accordion-title1121\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion1121\" data-toggle=\"collapse\" data-parent=\"#accordionSet1021\" aria-expanded=\"false\" aria-controls=\"accordion1121\">US inflation rose to highest in 4 decades in March<br \/>\n<span class=\"text-disclaimer\"> See update from April 12, 2022<\/span><\/button><\/p>\n<div id=\"accordion1121\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title1121\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>March CPI reading pushed higher by invasion led surge in gas prices.<\/li>\n<li>Commodity prices have partially reversed gains but growth in rent prices are picking up.<\/li>\n<li>Tight labour market conditions means higher wages, especially for non-managerial roles.<\/li>\n<\/ul>\n<hr \/>\n<div id=\"everviz-oho5tuIRd\" class=\"everviz-oho5tuIRd\"><script src=\"https:\/\/app.everviz.com\/inject\/oho5tuIRd\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-N60GQswYW\" class=\"everviz-N60GQswYW\"><script src=\"https:\/\/app.everviz.com\/inject\/N60GQswYW\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-SaGwFSmxO\" class=\"everviz-SaGwFSmxO\"><script src=\"https:\/\/app.everviz.com\/inject\/SaGwFSmxO\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-kemsduOD7\" class=\"everviz-kemsduOD7\"><script src=\"https:\/\/app.everviz.com\/inject\/kemsduOD7\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-DiZuozOTj\" class=\"everviz-DiZuozOTj\"><script src=\"https:\/\/app.everviz.com\/inject\/DiZuozOTj\/\" defer=\"defer\"><\/script><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><!-- --><\/p>\n<div class=\"accordion-panel\"><button id=\"accordion-title0322\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0322\" data-toggle=\"collapse\" data-parent=\"#accordionSet0322\" aria-expanded=\"false\" aria-controls=\"accordion0322\">US price growth accelerating ahead of invasion-led oil price surge<br \/>\n<span class=\"text-disclaimer\"> See update from March 10, 2022<\/span><\/button><\/p>\n<div id=\"accordion0322\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0322\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Still around 80% of the consumer basket (excluding shelter) was growing at above target rate in February.<\/li>\n<li>5-year inflation expectations breach 3% on surging oil prices after Russian invaded Ukraine.<\/li>\n<li>Food and energy to lead global inflation as commodity prices soar.<\/li>\n<\/ul>\n<hr \/>\n<div id=\"everviz-cobbt8_d7\" class=\"everviz-cobbt8_d7\"><script src=\"https:\/\/app.everviz.com\/inject\/cobbt8_d7\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-qdLg4fETU\" class=\"everviz-qdLg4fETU\"><script src=\"https:\/\/app.everviz.com\/inject\/qdLg4fETU\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-Cyl7fQquF\" class=\"everviz-Cyl7fQquF\"><script src=\"https:\/\/app.everviz.com\/inject\/Cyl7fQquF\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-0c0JBQTyS\" class=\"everviz-0c0JBQTyS\"><script src=\"https:\/\/app.everviz.com\/inject\/0c0JBQTyS\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-DQHVNhtTY\" class=\"everviz-DQHVNhtTY\"><script src=\"https:\/\/app.everviz.com\/inject\/DQHVNhtTY\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<p><!-- --><\/p>\n<div class=\"accordion-panel\"><button id=\"accordion-title0222\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion0222\" data-toggle=\"collapse\" data-parent=\"#accordionSet0222\" aria-expanded=\"false\" aria-controls=\"accordion0222\">US inflation pressures continued to broaden in January<br \/>\n<span class=\"text-disclaimer\"> See update from February 10, 2022<\/span><\/button><\/p>\n<div id=\"accordion0222\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title0222\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>The 7.5% year-over-year price growth still disproportionately influenced by vehicle prices and weak year-ago comparable prices, but price pressures are broadening<\/li>\n<li>Housing costs running at above pre-pandemic rates, and close to 80% of the consumer basket prices rising faster than 2% per-year from pre-pandemic levels<\/li>\n<li>Headline inflation rates are expected to plateau in coming months as pandemic distortions fade, but strong demand will keep a floor under broader price pressures<\/li>\n<\/ul>\n<hr \/>\n<div id=\"everviz-f92F6-Us5\" class=\"everviz-f92F6-Us5\"><script src=\"https:\/\/app.everviz.com\/inject\/f92F6-Us5\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-9BimlLsyn\" class=\"everviz-9BimlLsyn\"><script src=\"https:\/\/app.everviz.com\/inject\/9BimlLsyn\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-_6xOMObHo\" class=\"everviz-_6xOMObHo\"><script src=\"https:\/\/app.everviz.com\/inject\/_6xOMObHo\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-KNgohY4hA\" class=\"everviz-KNgohY4hA\"><script src=\"https:\/\/app.everviz.com\/inject\/KNgohY4hA\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-SulgV1jL3\" class=\"everviz-SulgV1jL3\"><script src=\"https:\/\/app.everviz.com\/inject\/SulgV1jL3\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<p><!\u2014Start of PDF Callout--><\/p>\n<div class=\"rds-callout-white\" style=\"border: 1px solid #c4c8cc;\">\n<div class=\"rds-gcw\">\n<div class=\"img w-mob-100\" style=\"display: inline-block; vertical-align: top;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-23215\" src=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/econ-download.png\" alt=\"\" width=\"261\" height=\"177\" \/><\/div>\n<div class=\"rds-inline pad-hlf\" style=\"display: inline-block; vertical-align: top;\">\n<h4 class=\"mar-t\">Download report PDF<\/h4>\n<p><a class=\"btn tertiary\" role=\"button\" href=\"https:\/\/royal-bank-of-canada-2124.docs.contently.com\/v\/rbc-consumer-spending-tracker-pdf-january-11-2022-pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-dig-id=\"TNL_211110\" data-dig-category=\"TNL Economics\" data-dig-action=\"mid-funnel click\" data-dig-label=\"US Inflation Watch 4 PDF\">Download<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><!\u2014End of PDF Callout--><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><!-- --><\/p>\n<div class=\"accordion-panel\"><button id=\"accordion-title1121\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion1121\" data-toggle=\"collapse\" data-parent=\"#accordionSet1021\" aria-expanded=\"false\" aria-controls=\"accordion1121\">Broadening inflation pressure still imminent in the US<br \/>\n<span class=\"text-disclaimer\"> See update from January 12, 2022<\/span><\/button><\/p>\n<div id=\"accordion1121\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title1121\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Near-term inflation driven by higher home rent and vehicle prices.<\/li>\n<li>Pressure is still broadening, as majority of consumer basket is seeing +2% growth in inflation.<\/li>\n<li>Tentative signs of supply chain disruptions easing.<\/li>\n<\/ul>\n<hr \/>\n<div id=\"everviz-dHwkpFEYl\" class=\"everviz-dHwkpFEYl\"><script src=\"https:\/\/app.everviz.com\/inject\/dHwkpFEYl\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-3viAU3w8Z\" class=\"everviz-3viAU3w8Z\"><script src=\"https:\/\/app.everviz.com\/inject\/3viAU3w8Z\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-fMkWr9DZn\" class=\"everviz-fMkWr9DZn\"><script src=\"https:\/\/app.everviz.com\/inject\/fMkWr9DZn\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-CrKMXitd_\" class=\"everviz-CrKMXitd_\"><script src=\"https:\/\/app.everviz.com\/inject\/CrKMXitd_\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-nmUnBGGrT\" class=\"everviz-nmUnBGGrT\"><script src=\"https:\/\/app.everviz.com\/inject\/nmUnBGGrT\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<p><!\u2014Start of PDF Callout--><\/p>\n<div class=\"rds-callout-white\" style=\"border: 1px solid #c4c8cc;\">\n<div class=\"rds-gcw\">\n<div class=\"img w-mob-100\" style=\"display: inline-block; vertical-align: top;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-23215\" src=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/econ-download.png\" alt=\"\" width=\"261\" height=\"177\" \/><\/div>\n<div class=\"rds-inline pad-hlf\" style=\"display: inline-block; vertical-align: top;\">\n<h4 class=\"mar-t\">Download report PDF<\/h4>\n<p><a class=\"btn tertiary\" role=\"button\" href=\"https:\/\/royal-bank-of-canada-2124.docs.contently.com\/v\/rbc-consumer-spending-tracker-pdf-january-11-2022-pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-dig-id=\"TNL_211110\" data-dig-category=\"TNL Economics\" data-dig-action=\"mid-funnel click\" data-dig-label=\"US Inflation Watch 4 PDF\">Download<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><!\u2014End of PDF Callout--><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-panel\"><button id=\"accordion-title1121\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion1121\" data-toggle=\"collapse\" data-parent=\"#accordionSet1021\" aria-expanded=\"false\" aria-controls=\"accordion1121\">Inflation pressure in the US has been broadening<br \/>\n<span class=\"text-disclaimer\"> See update from December 14, 2021<\/span><\/button><\/p>\n<div id=\"accordion1121\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title1121\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>Inflation pressure still broadening across CPI basket.<\/li>\n<li>Omicron worries jolted energy prices and inflation expectations.<\/li>\n<li>Used car prices continued to rally, wages also grew.<\/li>\n<\/ul>\n<hr \/>\n<div id=\"everviz-zMArNAQdt\" class=\"everviz-zMArNAQdt\"><script src=\"https:\/\/app.everviz.com\/inject\/zMArNAQdt\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-7Ub17IeKX\" class=\"everviz-7Ub17IeKX\"><script src=\"https:\/\/app.everviz.com\/inject\/7Ub17IeKX\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-x34hEymUq\" class=\"everviz-x34hEymUq\"><script src=\"https:\/\/app.everviz.com\/inject\/x34hEymUq\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-vyiH64MvC\" class=\"everviz-vyiH64MvC\"><script src=\"https:\/\/app.everviz.com\/inject\/vyiH64MvC\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-ublWjl6oG\" class=\"everviz-ublWjl6oG\"><script src=\"https:\/\/app.everviz.com\/inject\/ublWjl6oG\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<p><!\u2014Start of PDF Callout--><\/p>\n<div class=\"rds-callout-white\" style=\"border: 1px solid #c4c8cc;\">\n<div class=\"rds-gcw\">\n<div class=\"img w-mob-100\" style=\"display: inline-block; vertical-align: top;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-23215\" src=\"https:\/\/www.rbc.com\/en\/wp-content\/uploads\/sites\/4\/2025\/03\/econ-download.png\" alt=\"\" width=\"261\" height=\"177\" \/><\/div>\n<div class=\"rds-inline pad-hlf\" style=\"display: inline-block; vertical-align: top;\">\n<h4 class=\"mar-t\">Download report PDF<\/h4>\n<p><a class=\"btn tertiary\" role=\"button\" href=\"https:\/\/royal-bank-of-canada-2124.docs.contently.com\/v\/rbc-us-inflation-watch-pdf-december-10-2021-pdf1\" target=\"_blank\" rel=\"noopener noreferrer\" data-dig-id=\"TNL_211110\" data-dig-category=\"TNL Economics\" data-dig-action=\"mid-funnel click\" data-dig-label=\"US Inflation Watch 4 PDF\">Download<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><!\u2014End of PDF Callout--><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"accordion-panel\"><button id=\"accordion-title1121\" class=\"h4 collapse-toggle collapsed\" data-target=\"#accordion1121\" data-toggle=\"collapse\" data-parent=\"#accordionSet1021\" aria-expanded=\"false\" aria-controls=\"accordion1121\">US Price growth broadening across spending categories<br \/>\n<span class=\"text-disclaimer\"> See update from November 10, 2021<\/span><\/button><\/p>\n<div id=\"accordion1121\" class=\"collapse-content collapse\" role=\"region\" aria-labelledby=\"accordion-title1121\">\n<div class=\"collapse-inner\">\n<ul class=\"disc pad-l\">\n<li>New vehicle prices and base-effects still boosting year-over-year price growth.<\/li>\n<li>Shelter and food costs also rising more quickly.<\/li>\n<li>High input costs and supply chain disruptions to keep upward pressure on prices near-term.<\/li>\n<\/ul>\n<hr \/>\n<div id=\"everviz-Qis6tgkwl\" class=\"everviz-Qis6tgkwl\"><script src=\"https:\/\/app.everviz.com\/inject\/Qis6tgkwl\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-pV_6okRaS\" class=\"everviz-pV_6okRaS\"><script src=\"https:\/\/app.everviz.com\/inject\/pV_6okRaS\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-wKWm31QVv\" class=\"everviz-wKWm31QVv\"><script src=\"https:\/\/app.everviz.com\/inject\/wKWm31QVv\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-LKSwQBTZL\" class=\"everviz-LKSwQBTZL\"><script src=\"https:\/\/app.everviz.com\/inject\/LKSwQBTZL\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-myl_sa9Yk\" class=\"everviz-myl_sa9Yk\"><script src=\"https:\/\/app.everviz.com\/inject\/myl_sa9Yk\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-l0tuizywP\" class=\"everviz-l0tuizywP\"><script src=\"https:\/\/app.everviz.com\/inject\/l0tuizywP\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<div id=\"everviz-iatL2qb6d\" class=\"everviz-iatL2qb6d\"><script src=\"https:\/\/app.everviz.com\/inject\/iatL2qb6d\/\" defer=\"defer\"><\/script><\/div>\n<hr \/>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<style class=\"advgb-styles-renderer\">h2.title-text{font-size: 2.8rem;font-weight: 400;line-height: 1.2;margin-top: 0;}.h4, h4 {font-size: 22px;}.accordion-panel p {margin-bottom:0px!important}.mar50top{margin-top:50px;}.accordion .accordion-panel>.collapse-toggle, .accordion .panel>.collapse-toggle .h4 {font-size:17px;display: grid;}.accordion .accordion-panel:first-child, .accordion .panel:first-child {border-top: 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Recent updates to the RBC U.S. Inflation watch here. Widespread moderation in U.S. headline inflation in June See update from July 12, 2023 Deceleration in food and energy prices drove U.S. headline inflation lower. Core services excluding rent (Fed\u2019s preferred inflation gauge) also improved, and breadth of inflationary pressure [&hellip;]<\/p>\n","protected":false},"author":189,"featured_media":5645,"parent":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"disable_focal_point":true,"featured_image_focal_point":{"x":0.5,"y":0.5},"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"rbc_tl_category":[97],"rbc_tl_tag":[],"class_list":["post-8790","rbc_tl","type-rbc_tl","status-publish","has-post-thumbnail","hentry","rbc_tl_category-economics"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>U.S. Inflation Watch - Archive - RBC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/u-s-inflation-watch-archive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Inflation Watch - Archive\" \/>\n<meta property=\"og:description\" content=\"Note: This page is now archived. 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