Last year's eight percent annual inflation rate was the highest level of inflation the US has seen since the 1980s. It has since dropped down to 3.1 percent, as of November 2023, but that figure is still significantly above the Federal Reserve's two percent target.

While 2022 set a record for US inflation in recent decades, rates of inflation have reached far more drastic heights at other points in the country's history. Madison Trust used data from Rate Inflation to visualize the highest and lowest inflation rates the US has ever seen.

The Five Highest Annual Inflation Rates in US History

1. 1917: 17.84 percent
2. 1918: 17.28 percent
3. 1920: 15.63 percent
4. 1919: 15.24 percent
5. 1947: 14.39 percent

The Five Lowest Annual Inflation Rates in US History

1. 1921: -10.94 percent
2. 1932: -10.30 percent
3. 1931: -8.93 percent
4. 1922: -6.16 percent
5. 1933: -5.19 percent

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Via Madison Trust.