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U.S. Inflation Inequality between 2010 and 2023

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Abstract

Following the literature that uses data from the Consumer Expenditure Survey and the consumer price index, this article examines U.S. households’ inflation experiences during the recent period from 2010 to 2023. We construct group-specific market baskets to reflect diverse spending patterns and identify key differences in inflation. Our main finding is that, although average inflation was higher and more volatile during this period, inflation inequality remained stable or even declined compared with the earlier period. Nevertheless, despite the overall similarity in households’ inflation experiences, the underlying drivers of inflation—by consumption category and specific subcategory—can differ significantly.

Suggested Citation

  • YiLi Chien & Shih-Yang Lin & Yi-Chan Tsai, 2026. "U.S. Inflation Inequality between 2010 and 2023," Review, Federal Reserve Bank of St. Louis, vol. 108(2), pages 1-22, March.
    • Handle: RePEc:fip:fedlrv:102926
    DOI: 10.20955/r.2026.02
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    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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