Past and present inflation are more similar than you think

Jun 28, 2022

With prices rising, how does the current inflation rate compare with the past? Image: Unsplash/Krzysztof Hepner

Judd N. L. Cramer

Lecturer in Economics, Harvard University

Lawrence H. Summers

President Emeritus, Harvard Kennedy School of Government

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A graph showing shelter CPI inflation and the Federal Funds Rate, 1954 to present

Shelter CPI inflation and the Federal Funds Rate, 1954 to present. Image: Bureau of Labor Statistics.

A graph showing shelter CPI inflation and rent CPI inflation, 1954 to present

Shelter CPI inflation and rent CPI inflation, 1954 to present. Image: Bureau of Labor Statistics.

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The official and estimated headline CPI from 1950 to present day. Image: Bureau of Labor Statistics

The official and estimated headline CPI from 1950 to present day with quantity weights fixed at 2022 levels. Image: Bureau of Labor Statistics

A table comparing past inflation cycles to today's inflation cycle

What inflation cycles have looked like in the past, compared to today. Image: Bureau of Labor Statistics

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