Inflation’s 2021 rise and potential 2023 fall: Overall and core (excluding food and energy) inflation, year-over-year and quarterly at an annualized rate, 2017–2022
| Overall, year-over-year | Core, year-over-year | Overall, quarterly (annualized) | Core, quarterly (annualized) | |
|---|---|---|---|---|
| 2017Q1 | 2.1% | 1.9% | 2.4% | 1.9% |
| 2017Q2 | 1.7% | 1.7% | 1.0% | 1.5% |
| 2017Q3 | 1.7% | 1.5% | 1.5% | 1.3% |
| 2017Q4 | 1.9% | 1.7% | 2.6% | 2.0% |
| 2018Q1 | 2.0% | 1.9% | 2.9% | 2.6% |
| 2018Q2 | 2.3% | 2.0% | 2.2% | 2.2% |
| 2018Q3 | 2.3% | 2.1% | 1.4% | 1.4% |
| 2018Q4 | 2.0% | 2.0% | 1.5% | 1.9% |
| 2019Q1 | 1.5% | 1.7% | 0.8% | 1.5% |
| 2019Q2 | 1.6% | 1.7% | 2.5% | 2.1% |
| 2019Q3 | 1.5% | 1.8% | 1.0% | 1.6% |
| 2019Q4 | 1.5% | 1.6% | 1.5% | 1.2% |
| 2020Q1 | 1.6% | 1.7% | 1.5% | 1.9% |
| 2020Q2 | 0.5% | 0.9% | -1.8% | -1.0% |
| 2020Q3 | 1.1% | 1.3% | 3.4% | 3.2% |
| 2020Q4 | 1.2% | 1.4% | 1.6% | 1.5% |
| 2021Q1 | 1.9% | 1.7% | 4.5% | 3.2% |
| 2021Q2 | 4.0% | 3.5% | 6.4% | 6.0% |
| 2021Q3 | 4.5% | 3.9% | 5.6% | 4.8% |
| 2021Q4 | 5.7% | 4.7% | 6.2% | 4.8% |
| 2022Q1 | 6.4% | 5.3% | 7.5% | 5.6% |
| 2022Q2 | 6.6% | 5.0% | 7.3% | 4.7% |
| 2022Q3 | 6.3% | 4.9% | 4.2% | 4.5% |
Source: Price deflator for personal consumption expenditures (PCEPI) taken from the Bureau of Economic Analysis (BEA) National Income and Product Accounts (NIPA).