Analyzing the State of Inflation in 2024 and an Outlook for 2025

Inflation. It's a topic that never seems to leave the headlines-and for good reason. Whether you're budgeting for groceries, splurging on Valentine's Day, or planning summer travel, the rising cost of everyday life has a way of keeping our attention.

When we first posted about rising inflation rates in February 2022, we knew it was a big deal. We thought-or hoped-the spike would be a temporary phenomenon. Then, of course, inflation hung around and led to four Domo on Data blog posts, plus much LinkedIn pontificating from me.

This month, we're excited to bring these efforts together in one place: an interactive app, designed to offer new insights on the state of inflation in the United States in 2024.

Building the story of inflation, one insight at a time

In our past blog posts, each inflation update and analysis acted like a snapshot, capturing a look at the forces shaping prices at a single moment in time. But inflation unfolds as a longer narrative, one that's constantly evolving.

So, we returned to those original dashboards, some created before we had low-code app-building tools in App Studio, and brought them together into one cohesive app. With Domo's latest app tools, we built a single, themed experience that feels less like a dashboard and more like an interactive website, giving you an engaging way to explore the journey of U.S. inflation across the years.

Explore inflation trends through the years-all in one place

Think of this app as your guide to track inflation's path measured through consumer price index (CPI) data. You can travel through the steep rises of recent years to where things stand in 2024, with a view toward what might come in 2025.

We organized it with themed sections that let you track trends by season, event, or essentials, creating a comprehensive picture of how inflation affects our everyday choices.

For instance, you can explore:

• Seasonal insights: How have holiday spending spikes contributed to price fluctuations?
• Event-specific analysis: What patterns emerge around economic shocks?
• Essentials tracking: How have staple items evolved vs discretionary spending?

Since the app is interactive, you can go beyond the numbers to find patterns, trace changes over time, and explore the factors driving today's prices.

Dive in and see what the data reveals about today's prices and inflation's possible future.

As you explore, think about how tools like predictive analytics and machine learning can make sense of trends like inflation. At Domo, we're always finding new ways to help uncover patterns that shape not just today's economy, but what's coming next.

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