Inflation rate based on 12-month change in CPI. Data courtesy the US Bureau of Labor Statistics and Robert Shiller. Sources: US Bureau of Labor Statistics for current US inflation rate. Robert Shiller and his book Irrational Exuberance for historic US inflation rates.. The average price of food in the United States rose 1.8% in the 12 months ended February, matching each of the two prior increases, according to the latest inflation data published March 11, 2020 by the U.S. Labor Department’s Bureau of Labor Statistics ().Food inflation is a major part of the Consumer Price Index. The average annual inflation rate for the entire period since 1913 has been 3.15% per year. (Using Geometric Mean). For more information on the Geometric Mean see: Inflation by Decade. See Current Commentary above for an explanation of what this chart is telling us about inflation now.

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