Stock prices vs consumer prices
Have stock prices kept ahead of consumer-price inflation?
| Series | First | Latest | Min | Max |
|---|---|---|---|---|
| S&P 500 (SPY) | 100.0 | 3076.4 | 100.0 | 3076.4 |
| CPI-U | 100.0 | 232.9 | 100.0 | 233.9 |
- Latest chart point (2026-06-01) predates the newest source observation (2026-07-24); one input series may be lagging.
Index SPY (monthly avg adjusted close) and CPIAUCSL to 100 at the shared startSPDR S&P 500 ETF (SPY, daily adjusted close, Yahoo Finance) and the CPI-U headline index (CPIAUCSL, monthly, seasonally adjusted, FRED), both rebased to 100 at their shared start. SPY is averaged to monthly to match CPI. The spread between the lines is the real (inflation-adjusted) equity return over the window. SPY's adjusted close reflects the S&P 500's total return (price appreciation plus dividends).
- Data through
- June 2026
- Last refreshed
- 24 Jul 2026
- Native frequency
- monthly
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