US Economy · Macro Snapshot

Where The Economy Stands

Inflation is running hotter, growth is picking back up, and the labor market is holding steady — a look at the four numbers driving the macro narrative.

Inflation · May
CPI Inflation
4.2%
YoY, all items
▲ from 2.4% in Jan
Headline inflation has nearly doubled since January, driven by broad-based price increases across goods and services categories.
Inflation · May
Core CPI
2.9%
Ex food & energy
▲ from 2.5% in Jan
Core inflation strips out volatile food and energy prices, offering a steadier read — and it's climbing too, though more gradually than the headline figure.
Growth · Q1
Real GDP
2.1%
Annualised, BEA 3rd est.
▲ from 0.5% in Q4 2025
Growth has rebounded sharply from a near-stall in late 2025, suggesting the economy regained momentum heading into the year.
Labor · May
Unemployment
4.3%
Headline U-3 rate
— Stable 3 months
The unemployment rate has held steady for three straight months, pointing to a labor market that remains resilient despite inflationary pressure.