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The Federated Hermes Inflation Dashboard is a snapshot of US inflation. The dashboard’s indicators work together to create a more comprehensive picture of inflation’s trajectory on a monthly basis rather than relying just on the Federal Reserve’s preferred inflation metric, Core Personal Consumption Expenditures.

DASHBOARD

Inflation

SEPTEMBER 2025

Consumer Price Index

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Personal Consumption Expenditures

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Start date for analysis: 1/1959

Does not include food and energy sectors, which can be very volatile

Core CPI:

Includes food and energy sectors, which can more accurately represent real expenses

Headline PCE:

DASHBOARD

Consumer Price Index

Personal Consumption Expenditures

Proj. 2025 Y/E at 3mo. avg rate

3.23%

3.11%

2.38%

Current

50th percentile

25th percentile

75th percentile

4.71%

2.88%

2.00%

Entire History

50th percentile

25th percentile

75th percentile

2.57%

2.17%

1.75%

Since 2000

2.99%

2.92%

2.54%

Current

50th percentile

25th percentile

75th percentile

4.67%

2.99%

1.82%

Entire History

50th percentile

25th percentile

75th percentile

3.29%

2.33%

1.62%

Since 2000

Current (YOY%)

Implied Fed Target

Proj. 2025 Y/E at 3mo. avg rate

3.01%

2.91%

2.00%

Current

50th percentile

25th percentile

75th percentile

4.25%

2.57%

1.65%

Entire History

50th percentile

25th percentile

75th percentile

2.19%

1.79%

1.54%

Since 2000

Current (YOY%)

Implied Fed Target

Proj. 2025 Y/E at 3mo. avg rate

2.31%

2.74%

2.82%

Current

50th percentile

25th percentile

75th percentile

1.65%

2.57%

4.25%

Entire History

50th percentile

25th percentile

75th percentile

2.70%

2.10%

1.42%

Since 2000

Since 1/1/00 Green: Below 50th percentile Yellow: Between 50-75th percentile Red: Above 75th percentile

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Core CPI

Headline CPI

Headline CPI:

Core PCE:

Headline PCE

Core PCE

Current (YOY%)

Implied Fed Target

Current (YOY%)

Implied Fed Target

Proj. 2025 Y/E at 3mo. avg rate

6/27/2025

Most recent data point:

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Personal Consumption Expenditures

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Personal Consumption Expenditures

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Personal Consumption Expenditures

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Year Over Year

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Year End

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Consumer Price Index

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Consumer Price Index

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Consumer Price Index

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Year Over Year

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Year End

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United States

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Month

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DISCLOSURES There is no guarantee that any specific investment approach will be successful. Not FDIC Insured • May Lose Value • No Bank Guarantee Federated Securities Corp. 25-60270 (7/25)