Inflation Rate 2024 Predictions. The us inflation rate remains stubbornly above 3%, but economic observers expect it to fall closer to its 2% target by the end of 2024. Core prices — inflation that strips out food and energy.
The cleveland fed produces nowcasts of the current period’s rate of inflation—inflation in a given month or quarter—before the official cpi or pce inflation data are released. Forecasts for the june consumer price index report agree that overall inflation continued to soften in june, thanks to falling prices for energy and used cars.