US inflation today, based on millions of real price data: US CPI: 0.94% US core CPI (excl food and energy): 1.51% Our headline inflation index has remained below the Fed's 2% target and below 1% since February. The latest upward trend, from 0.74%, was driven by price increases in health, education, clothing, and public transport. It primarily reflected services inflation rather than goods inflation, suggesting that the effect of current tariffs is now completely baked in.