The price of attention is rising 3.3× faster than the economy
US search CPCs rose 28.4% between 2023 and 2026. Consumer prices rose 8.5%. Even after adjusting for inflation, the real cost of buying a search click increased by 18.3%.
Explore the evidence28.4%
8.5%
$6.64
Paid search is experiencing its own inflation cycle
Between 2023 and 2026, the published average US Google Search CPC increased from $4.22 to $5.42. Over the same period, US consumer prices increased by 8.5%.
CPC inflation was therefore approximately 3.3 times consumer inflation. The size of the gap suggests that search advertising costs are being driven by factors within the advertising market, not simply by general price increases.
8.7%
2.8%
18.3%
21 of 23
A flat search budget is a declining search budget
$1.000 million
$1.085 million
$1.284 million
Even a budget increased in line with consumer inflation would purchase approximately 15.5% fewer clicks than it did in 2023.
CPC inflation is broad-based, but highly uneven
21 of 23
18 of 23
~35%
31.0%
Six categories where CPCs surged
186%
Apparel / Fashion & Jewelry
108%
Real Estate
84%
Personal Services
70%
Shopping, Collectibles & Gifts
60%
Beauty & Personal Care
56%
Sports & Recreation
A single cross-industry inflation assumption is likely to produce misleading media plans. Businesses in rapidly repricing categories may need to revisit budgets and acquisition targets several times per year.
CPC inflation is slowing, but pressure is becoming more concentrated
The market may be moving from broad CPC inflation to category-specific repricing. The overall average is moderating, but competition remains intense in several high-value sectors.
Where could the average search CPC reach by 2030?
$6.64
This would be approximately 23% above 2026 and 57% above 2023.
Lower pressure
Central forecast
High pressure
Paid-search productivity must improve just to stand still
Separate media inflation from general inflation
Plan using industry-specific benchmarks
Connect CPC movements to conversion and customer economics
Build efficiency improvements into annual media plans
The marketing challenge is no longer simply buying more traffic. It is improving conversion and customer value faster than the auction becomes more expensive.
How this research was built
Read the full methodology
- US Google Search CPC benchmark data sourced from WordStream and LocaliQ industry reports, 2023-2026.
- US Consumer Price Index data sourced from the U.S. Bureau of Labor Statistics.
- Each index rebased to 100 in 2023 to enable direct like-for-like comparison.
- The equal-weight industry blend gives every industry the same weight regardless of spend volume.
- Forecasts are directional scenarios exploring plausible growth paths, not precise predictions.
- The 2026 CPI figure uses available 2026 data rather than a completed full calendar year.
What does CPC inflation mean for your acquisition strategy?
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