Inflation in the United States, Year-Over-Year Percent Change
As measured by the gross domestic product implicit price deflator (GDP deflator), the year-over-year inflation rate nationally gradually slowed from a peak rate of 3.5 percent in mid-2006, during the last economic boom, to only 0.2 percent in late 2009, just after the end of the last recession. As the economy recovered, the inflation rate bounced back to 2.2 percent in third quarter 2011, but the rate has since dropped back; it was 1.0 percent in second quarter, 2015. In contrast, the inflation rate measured by the consumer price index (CPI) has been more volatile, in part due to the swings experienced in gasoline prices. Year-to-year inflation peaked at 3.9 percent in September 2011; the year-over-year change was 0.1 percent in June 2015.