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Inflation (CPI) under George H. W. Bush

Inflation (CPI) went from 4.5% in George H. W. Bush's first month to 3.0% at month 48: a change of −1.5 pts. At that point in office it ranks #4 of 9 administrations since 1969. Official data from the Bureau of Labor Statistics (BLS).

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Month 1
4.5%
Month 48
3.0%
Change
−1.5 pts
Rank at that point
#4 of 9
−1.4%6.3%14.0%Month 1Month 13Month 25Month 37Month 48Nixon, month 1: 4.7%Nixon, month 4: 5.5%Nixon, month 7: 5.4%Nixon, month 10: 5.7%Nixon, month 13: 6.2%Nixon, month 16: 6.1%Nixon, month 19: 5.7%Nixon, month 22: 5.6%Nixon, month 25: 5.3%Nixon, month 28: 4.2%Nixon, month 31: 4.4%Nixon, month 34: 3.8%Nixon, month 37: 3.3%Nixon, month 40: 3.5%Nixon, month 43: 3.0%Nixon, month 46: 3.2%Nixon, month 48: 3.4%NixonCarter, month 1: 5.2%Carter, month 4: 7.0%Carter, month 7: 6.7%Carter, month 10: 6.4%Carter, month 13: 6.8%Carter, month 16: 6.5%Carter, month 19: 7.7%Carter, month 22: 8.9%Carter, month 25: 9.3%Carter, month 28: 10.5%Carter, month 31: 11.4%Carter, month 34: 12.1%Carter, month 37: 13.9%Carter, month 40: 14.6%Carter, month 43: 13.2%Carter, month 46: 12.6%Carter, month 48: 12.3%CarterReagan, month 1: 11.8%Reagan, month 4: 10.1%Reagan, month 7: 10.8%Reagan, month 10: 10.3%Reagan, month 13: 8.3%Reagan, month 16: 6.6%Reagan, month 19: 6.6%Reagan, month 22: 5.0%Reagan, month 25: 3.7%Reagan, month 28: 4.0%Reagan, month 31: 2.4%Reagan, month 34: 2.8%Reagan, month 37: 4.3%Reagan, month 40: 4.5%Reagan, month 43: 4.3%Reagan, month 46: 4.3%Reagan, month 48: 4.0%ReaganClinton, month 1: 3.3%Clinton, month 4: 3.2%Clinton, month 7: 2.9%Clinton, month 10: 2.8%Clinton, month 13: 2.5%Clinton, month 16: 2.4%Clinton, month 19: 2.7%Clinton, month 22: 2.6%Clinton, month 25: 2.9%Clinton, month 28: 3.1%Clinton, month 31: 2.8%Clinton, month 34: 2.7%Clinton, month 37: 2.8%Clinton, month 40: 2.8%Clinton, month 43: 2.9%Clinton, month 46: 3.1%Clinton, month 48: 3.4%ClintonBush 43, month 1: 3.7%Bush 43, month 4: 3.2%Bush 43, month 7: 2.7%Bush 43, month 10: 2.1%Bush 43, month 13: 1.2%Bush 43, month 16: 1.6%Bush 43, month 19: 1.5%Bush 43, month 22: 2.0%Bush 43, month 25: 2.8%Bush 43, month 28: 2.2%Bush 43, month 31: 2.1%Bush 43, month 34: 2.0%Bush 43, month 37: 2.0%Bush 43, month 40: 2.3%Bush 43, month 43: 2.9%Bush 43, month 46: 3.2%Bush 43, month 48: 3.3%Bush 43Obama, month 1: −0.1%Obama, month 4: −0.6%Obama, month 7: −2.0%Obama, month 10: −0.2%Obama, month 13: 2.6%Obama, month 16: 2.2%Obama, month 19: 1.3%Obama, month 22: 1.2%Obama, month 25: 1.7%Obama, month 28: 3.1%Obama, month 31: 3.6%Obama, month 34: 3.5%Obama, month 37: 3.0%Obama, month 40: 2.3%Obama, month 43: 1.4%Obama, month 46: 2.2%Obama, month 48: 1.8%ObamaTrump I, month 1: 2.5%Trump I, month 4: 2.2%Trump I, month 7: 1.7%Trump I, month 10: 2.0%Trump I, month 13: 2.1%Trump I, month 16: 2.5%Trump I, month 19: 2.9%Trump I, month 22: 2.5%Trump I, month 25: 1.5%Trump I, month 28: 2.0%Trump I, month 31: 1.8%Trump I, month 34: 1.7%Trump I, month 37: 2.6%Trump I, month 40: 0.3%Trump I, month 43: 1.0%Trump I, month 46: 1.2%Trump I, month 48: 1.3%Trump IBiden, month 1: 1.4%Biden, month 4: 4.1%Biden, month 7: 5.3%Biden, month 10: 6.2%Biden, month 13: 7.6%Biden, month 16: 8.2%Biden, month 19: 8.5%Biden, month 22: 7.8%Biden, month 25: 6.3%Biden, month 28: 5.0%Biden, month 31: 3.3%Biden, month 34: 3.3%Biden, month 37: 3.1%Biden, month 40: 3.4%Biden, month 43: 2.9%Biden, month 46: 2.6%Biden, month 48: 2.9%BidenTrump II, month 1: 3.0%Trump II, month 4: 2.3%Trump II, month 7: 2.7%Trump II, month 11: 2.7%Trump II, month 14: 2.4%Trump II, month 17: 4.2%Trump II, month 20: 3.4%Trump II, month 21: 3.7%Trump IIBush 41, month 1: 4.5%Bush 41, month 4: 5.0%Bush 41, month 7: 5.1%Bush 41, month 10: 4.6%Bush 41, month 13: 5.2%Bush 41, month 16: 4.7%Bush 41, month 19: 4.8%Bush 41, month 22: 6.4%Bush 41, month 25: 5.7%Bush 41, month 28: 4.8%Bush 41, month 31: 4.4%Bush 41, month 34: 2.9%Bush 41, month 37: 2.7%Bush 41, month 40: 3.2%Bush 41, month 43: 3.2%Bush 41, month 46: 3.3%Bush 41, month 48: 3.0%Bush 41
Inflation, months 1–48 of each term. Highlighted: Bush 41.

All administrations at month 48

Inflation (CPI) at month 48 in office, 9 administrations ranked lowest (best) to highest. Average of all 9: 3.9%.
RankAdministrationValue at month 48Change since month 1Latest / end of month 48Primary federal source
#1Donald Trump (first term)1.3%−1.2 pts1.3% (month 48)Bureau of Labor Statistics · CPIAUCSL
#2Barack Obama1.8%+1.9 pts1.8% (month 48)Bureau of Labor Statistics · CPIAUCSL
#3Joe Biden2.9%+1.5 pts2.9% (month 48)Bureau of Labor Statistics · CPIAUCSL
#4George H. W. Bush3.0%−1.5 pts3.0% (month 48)Bureau of Labor Statistics · CPIAUCSL
#5George W. Bush3.3%−0.4 pts3.3% (month 48)Bureau of Labor Statistics · CPIAUCSL
#6Bill Clinton3.4%+0.1 pts3.4% (month 48)Bureau of Labor Statistics · CPIAUCSL
#7Richard Nixon3.4%−1.3 pts3.4% (month 48)Bureau of Labor Statistics · CPIAUCSL
#8Ronald Reagan4.0%−7.7 pts4.0% (month 48)Bureau of Labor Statistics · CPIAUCSL
#9Jimmy Carter12.3%+7.1 pts12.3% (month 48)Bureau of Labor Statistics · CPIAUCSL

Methodology and source verification

Year-over-year % change in the Consumer Price Index for All Urban Consumers (CPI-U), seasonally adjusted. Lower ranks better.

Every administration is aligned to its own inauguration: month 1 is the month it took office, and the comparison runs to month 48 (the first term). Each administration is compared at the same month in office, so a president halfway through a term is never measured against another's full four years.

Primary source: Bureau of Labor Statistics (BLS). Retrieved from the Federal Reserve Bank of St. Louis (FRED), series CPIAUCSL, refreshed hourly. Latest observation 2026-09-01, first published 2026-10-14. Full methods: methodology.

More on George H. W. Bush

GDP GrowthReal GDPUnemployment RateLabor Force ParticipationJobs Added per MonthManufacturing JobsCore InflationGas PricesReal WagesPurchasing Power of the DollarFederal Funds RateDebt-to-GDPTrade Balance30-Year Mortgage RateHousing StartsRetail SalesJob OpeningsJob Openings per Job SeekerPersonal Saving RateConsumer SentimentS&P 50010-Year Treasury Yield5-Year Treasury YieldYield Curve (10Y–2Y)Federal Budget Balance

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