How to build an inflation dashboard

Start by creating a free account at FRED (Federal Reserve Economic Data) — this allows you to save series and build custom charts. For the US as your anchor, add these core series to your watchlist:

• CPIAUCSL — Headline CPI (seasonally adjusted)
• CPILFESL — Core CPI (ex food and energy)
• PCEPILFE — Core PCE (Fed's preferred gauge)
• T10YIE — 10-year inflation breakeven (market expectations)

FRED's "My FRED" feature lets you create a custom dashboard of multiple series in a single view. Save a multi-series chart combining CPIAUCSL, CPILFESL, and PCEPILFE — this single chart shows the gap between headline and core, and between CPI and PCE. Update frequency: monthly.

The labour market leads inflation — wages today drive services prices in 3–6 months. Add these series to your FRED dashboard:

• AHETPI — Average hourly earnings (total private)
• UNRATE — Unemployment rate
• CIVPART — Labour force participation rate
• LES1252881600Q — Real median weekly earnings

Plot wage growth alongside core CPI on the same chart. When the gap between wage growth and core CPI narrows (wages falling toward inflation), the labour market is cooling. When wage growth consistently exceeds core CPI (positive real wages), inflation is likely to persist. This is the single most useful leading relationship for anticipating the next CPI print direction.

Commodity prices and producer prices lead consumer prices by 2–6 months. Bookmark these sources:

• PPIACO (FRED) — US Producer Price Index (all commodities)
• FAO Food Price Index — Global food commodity benchmark
• DCOILWTICO (FRED) — WTI crude oil price (daily)
• Eurostat natural gas prices — European energy benchmark

Compare PPI to CPI on the same chart — when PPI is running significantly above CPI, upstream cost pressure has not yet fully passed through to consumers. When PPI falls below CPI, a disinflationary impulse is coming. This is particularly relevant for goods CPI components like food and energy.

For a global perspective, use our inflation explorer to compare your anchor country against peers. Alternatively, the World Bank WDI CPI indicator gives you annual data for 180+ countries going back to 1960 — ideal for long-run context. For monthly European data, the Eurostat HICP database lets you download country-level series directly. Our cross-country comparison guide covers the methodological caveats (CPI vs HICP, different basket weights) to keep in mind when making these comparisons.

Policy rates directly affect inflation expectations and credit conditions. Track them alongside your inflation series:

• FEDFUNDS (FRED) — US federal funds effective rate
• ECBDFR (FRED) — ECB deposit facility rate
• BOEBRATE (FRED) — Bank of England base rate
• CME FedWatch — Market-implied probability of future Fed moves

Plot the policy rate alongside CPI on the same chart — the gap between the nominal policy rate and inflation is the real interest rate. When real rates are deeply negative (policy rate below inflation), monetary policy is highly stimulative. When real rates are positive and rising, policy is tightening. For calendar management, bookmark the Fed FOMC calendar, ECB calendar, and BoE MPC calendar — all free and publicly available.