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What is CPI-U?
The Consumer Price Index (CPI) is the statistical metric developed by the Bureau
of Labor Statistics used to monitor the change in the price of a set list of products.
The idea is that by monitoring the fluctuations in price it costs to purchase a
set basket of goods, the government can track the cost of living for most individuals.
The CPI-U is the CPI value for Urban Consumers, which excludes rural populations
and represents approximately 80% of the population. The CPI and CPI-U do not directly
measure inflation, but it gives a very good idea of whether we are in a period of
inflation or deflation and how severe that change may be. As the Bureau of Labor
Statistics states, "The CPI is generally the best measure for adjusting payments
to consumers when the intent is to allow consumers to purchase at today's prices,
a market basket of goods and services equivalent to one that they could purchase
in an earlier period."
Many argue that the CPI-U is not a very good measurement of inflation in today's
society. The CPI-U excludes the cost of energy and food, which have steadily risen
over time. Regardless, the CPI-U is the metric used by the Treasury for calculating
the inflation-linked rate of an I Bond.
CPI-U Measurements
This table shows the CPI-U changes since 1998, when I Bonds were first released.
I Bonds use the change in these numbers to determine the inflation-linked portion
of the bond's rate. Bonds released in November through April use the CPI-U change
from March to September. Bonds purchased between May and October use the CPI-U changes
from September of the previous year through March.
For more detailed information on CPI-U, including charts for each year, visit CPI-U.info.
| 1998 | 161.6 | 161.9 | 162.2 | 162.5 | 162.8 | 163.0 | 163.2 | 163.4 | 163.6 | 164.0 | 164.0 | 163.9 |
| 1999 | 164.3 | 164.5 | 165.0 | 166.2 | 166.2 | 166.2 | 166.7 | 167.1 | 167.9 | 168.2 | 168.3 | 168.3 |
| 2000 | 168.8 | 169.8 | 171.2 | 171.3 | 171.5 | 172.4 | 172.8 | 172.8 | 173.7 | 174.0 | 174.1 | 174.0 |
| 2001 | 175.1 | 175.8 | 176.2 | 176.9 | 177.7 | 178.0 | 177.5 | 177.5 | 178.3 | 177.7 | 177.4 | 176.7 |
| 2002 | 177.1 | 177.8 | 178.8 | 179.8 | 179.8 | 179.9 | 180.1 | 180.7 | 181.0 | 181.3 | 181.3 | 180.9 |
| 2003 | 181.7 | 183.1 | 184.2 | 183.8 | 183.5 | 183.7 | 183.9 | 184.6 | 185.2 | 185.0 | 184.5 | 184.3 |
| 2004 | 185.2 | 186.2 | 187.4 | 188.0 | 189.1 | 189.7 | 189.4 | 189.5 | 189.9 | 190.9 | 191.0 | 190.3 |
| 2005 | 190.7 | 191.8 | 193.3 | 194.6 | 194.4 | 194.5 | 195.4 | 196.4 | 198.8 | 199.2 | 197.6 | 196.8 |
| 2006 | 198.3 | 198.7 | 199.8 | 201.5 | 202.5 | 202.9 | 203.5 | 203.9 | 202.9 | 201.8 | 201.5 | 201.8 |
| 2007 | 202.416 | 203.499 | 205.352 | 206.686 | 207.949 | 208.352 | 208.299 | 207.917 | 208.490 | 208.936 | 210.177 | 210.036 |
| 2008 | 211.080 | 211.693 | 213.528 | 214.823 | 216.632 | 218.815 | 219.964 | 219.086 | 218.783 | 216.573 | 212.425 | 210.228 |
| 2009 | 211.143 | 212.193 | 212.709 | 213.240 | 213.856 | 215.693 | 215.351 | 215.834 | 215.969 | 216.177 | 216.330 | 215.949 |
| 2010 | 216.687 | 216.741 | 217.631 | 218.009 |
218.178
|
217.965
|
218.011
| 218.312 |
218.439
|
218.711
|
218.803
|
219.179
|
| 2011 |
220.223
|
221.309
|
223.467
|
224.906
|
225.964
|
225.722
|
225.922
|
226.545
|
226.889
|
226.421
|
226.230
|
225.672
|
| 2012 |
226.665
|
227.663
|
229.392
|
230.085
|
229.815
|
229.478
|
229.104
|
230.379
|
231.407
|
231.317
|
230.221
|
229.601
|
| 2013 |
230.280
|
232.166
|
232.773
|
232.531
|
232.945
|
233.504
|
233.596
|
233.877
|
234.149
|
233.546
|
233.069
|
233.049
|
| 2014 |
233.916
|
234.781
|
236.293
|
237.072
|
237.900
|
238.343
|
238.250
|
237.852
|
238.031
|
237.433
|
236.151
|
234.812
|
| 2015 |
233.707
|
234.722
|
236.119
|
236.599
|
237.805
|
238.638
|
238.654
|
238.316
|
237.945
|
237.838
|
237.336
|
236.525
|
| 2016 |
236.916
|
237.111
|
238.132
|
239.261
|
240.229
|
241.018
|
240.628
|
240.849
|
241.428
|
241.729
|
241.353
|
241.432
|
| 2017 |
242.839
|
243.603
|
243.801
|
244.524
|
244.733
|
244.955
|
244.786
|
245.519
|
246.819
|
246.663
|
246.669
|
246.524
|
| 2018 |
247.867
|
248.991
|
249.554
|
250.546
|
251.588
|
251.989
|
252.006
|
252.146
|
252.439
|
252.885
|
252.038
|
251.233
|
| 2019 |
251.712
|
252.776
|
254.202
|
255.548
|
256.092
|
256.143
|
256.571
|
256.558
|
256.759
|
257.346
|
257.208
|
256.974
|
| 2020 |
257.971
|
258.678
|
258.115
| | | | | | | | | |
| 2021 | | | | | | | | | | | | |
The following table shows changes in CPI-U as a percentage, which is the value used in
the I Bond rate calculation.
|
May 2020
|
0.53%
|
|
November 2019
|
1.01%
|
|
May 2019
|
0.70%
|
|
November 2018
|
1.16%
|
|
May 2018
|
0.98%
|
|
November 2017
|
1.11%
|
|
May 2017
|
0.98%
|
|
November 2016
|
1.38%
|
|
May 2016
|
0.08%
|
|
November 2015
|
0.77%
|
|
May 2015
|
-0.8%
|
|
November 2014
|
0.74%
|
|
May 2014
|
0.92%
|
|
November 2013
|
0.59%
|
|
May 2013
|
0.59%
|
|
November 2012
|
0.88%
|
|
May 2012
|
1.10%
|
|
November 2011
|
1.53%
|
|
May 2011
|
2.30%
|
|
November 2010
|
0.37%
|
|
May 2010
|
0.77%
|
|
November 2009
|
1.53%
|
|
May 2009
|
-2.78%
|
|
November 2008
|
2.46%
|
|
May 2008
|
2.42%
|
|
November 2007
|
1.53%
|
|
May 2007
|
1.21%
|
|
November 2006
|
1.55%
|
|
May 2006
|
0.50%
|
|
November 2005
|
2.85%
|
|
May 2005
|
1.79%
|
|
November 2004
|
1.33%
|
|
May 2004
|
1.19%
|
|
November 2003
|
0.54%
|
|
May 2003
|
1.77%
|
|
November 2002
|
1.23%
|
|
May 2002
|
0.28%
|
|
November 2001
|
1.19%
|
|
May 2001
|
1.44%
|
|
November 2000
|
1.52%
|
|
May 2000
|
1.91%
|
|
November 1999
|
1.76%
|
|
May 1999
|
0.86%
|
|
November 1998
|
0.86%
|
|
September 1998
|
0.62%
|
CPI-U Calculators
Based on the values of CPI-U, this calculator lets you determine the CPI-U linked rate
for an I-bond. November I bonds use the change in CPI-U from March to September.
May I bonds use the change from September of the previous year to March.
|
|
|
Use this calculator to find the rate of an I-bond given the above CPI-U increase
and the fixed rate of the bond.
|
Related Topics
Page last modified 9/1/2011