When the CPI is rising it means that consumer prices are also rising, and when it falls it means consumer prices are generally falling. In short, a higher CPI indicates higher inflation, while a falling CPI indicates lower inflation, or even deflation.

US Consumer Price Index is at a current level of 309.68, up from 308.74 last month and up from 300.36 one year ago. This is a change of 0.31% from last month and 3.11% from one year ago.