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Center for Inflation Research
The latest data, research, and resources to better understand the causes, dynamics, and impacts of inflation.
The Center for Inflation Research helps policymakers, researchers, industry professionals, and the informed public better understand inflation. Explore commentary, research, and analysis on inflationary trends, and find out about upcoming inflation-related events.
Latest inflation data
Inflation resources
Find answers to questions such as “what is inflation?” and “why does the Fed care about inflation?” Learn how the Fed pursues its goals of price stability and maximum employment.
Start with the basics
Inflation 101
Here's your guide to understanding inflation. The Center for Inflation Research provides basic definitions and explanations of inflation essentials for you to explore.
Learn about measuring actual and expected inflation
Consumer Price Data and Measures Explained
Learn the differences between the consumer price index (CPI) and the personal consumption expenditures (PCE) price index. Find out what measures are used to gauge underlying inflation, or the long-term trend in prices, such as median and trimmed-mean inflation rates and core inflation.
Measures of Expected Inflation and Why They Matter
Why is expected inflation important to you and the Federal Reserve, and how does it affect inflation? Also learn about two basic approaches to measuring expected inflation.
Research
We present inflation research in our Economic Commentary series, written for a knowledgeable but nonspecialist audience, and in more technical working papers, which are aimed at specialist audiences. Our inflation research is also published externally in peer-reviewed journals, books, and other works.
Cleveland Fed publications
Journal publications
Conferences and events
We engage with researchers, policymakers, and business professionals through events. We also cosponsor an annual inflation conference and host an ongoing webinar series on central banking.
Inflation: Drivers and Dynamics Conference
Conversations on Central Banking
In the news
Faculti.net
Do households prefer low unemployment or low inflation? In this interview, Damjan Pfajfar describes his latest research on that topic.
Spectrum News 1
Capital This Week host Curtis Jackson interviewed Damjan Pfajfar and Robert Rich about recent inflation developments.
Subscribe
Receive the Center for Inflation Research's newsletter, the Center’s Inflation Research Digest, and other inflation-related information. After submitting your email address, you'll receive the latest newsletter direct to your inbox.
Meet the team
The Center for Inflation Research, unique across the Federal Reserve System, is led by a team of Cleveland Fed economists, with additional support from other Bank researchers and analysts. The Center was formally established in 2018 as a forum for nationally and internationally recognized economists specializing in inflation-related research to gather both in theoretical and practical discussion and in information sharing and engagement with the public.
Damjan Pfajfar
Robert W. Rich
Ina Hajdini
Edward S. Knotek II
Advisory council
The Center's advisory council of leading academics, researchers, and policymakers from the United States and abroad provides external perspectives and advice on projects and events.
Other contributors
Cleveland Fed experts who contribute to the work of the Center through publication of Economic Commentary articles or working papers on inflation-related topics.
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Paola Boel Vice President -
Daniel R. Carroll Senior Research Economist -
Todd E. Clark Economist Emeritus -
Bruce Fallick Senior Vice President -
Paolo Gelain Senior Research Economist -
Joseph G. Haubrich Senior Economic and Policy Advisor -
Chengcheng Jia Research Economist -
Pawel M. Krolikowski Senior Research Economist -
James Mitchell Vice President -
Ellis W. Tallman Economist Emeritus -
Willem Van Zandweghe Vice President -
Randal J. Verbrugge Senior Research Economist -
Saeed Zaman Senior Research Economist