BPP@MIT Inflation Is Lowest in Two Years at 2.2%
The Billion Prices Project @ MIT recently released daily online price index data through March 31, and annual inflation rates for the last two years are displayed in the chart above. According to this real-time measure of major inflation trends in the U.S., inflationary pressures have been subsiding since last summer, and the annualized inflation rate of about 2.2% through the entire month of March (flat area in the graph) is at the lowest level in more than two years.
Update: The chart below shows that over the last four years, MIT's online price index has tracked the CPI pretty closely. Despite the fact that the online price index doesn't capture all of the items in the CPI, it's still a useful alternative measure of inflationary pressures in the U.S. economy that gives us additional information about the trends in consumer prices and inflation.