The consumer price index, seasonally adjusted, stood at 333.979 in May 2026, according to Bureau of Labor Statistics data published by the St. Louis Fed. The index a year earlier, May 2025, was 320.620. The percent change between those two published levels is 4.2 percent.
A price level and a rate of change are different objects. The index can be high relative to a household's memory of 2019 and still be the input to a modest twelve-month change, or the reverse.