According to multiple sources, the current inflation rate in the United States is 3.7% for the 12-month period leading up to September 2023. This is higher than the long-term average of 3.28% . The inflation rate is the percentage in which a chosen basket of goods and services purchased in the US increases in price over a year. Inflation is one of the metrics used by the US Federal Reserve to gauge the health of the economy. Since 2012, the Federal Reserve has targeted a 2% inflation rate for the US economy and may make changes to monetary policy if inflation is not within that range.