Documented changes this period lowered the trailing inflation rate while Frontier restructured earnings and two Chase benefits moved in opposite directions.
The headline number
Points Inflation Index stands at 25.2% per year on a trailing-12-month basis, computed from 80 documented changes across 34 programs. Documented devaluations continue to outnumber improvements 27:1 over the same window.
What the period documented
Frontier Miles earning cut up to 90% on basic fares. Effective for bookings on or after September 1, non-cardholders earn 1x on Basic fares (previously 10x on any fare) and 6x only with a bundle; Silver and Gold status thresholds also rose while Diamond fell to 75,000. Tickets purchased by August 31 retained prior rates. Full entry · Analysis
Chase IHG Premier Business free-night cap rises to 50,000 points. Certificates issued from 2027 will cover properties up to 50,000 points (from 40,000); certificates issued through 2026 keep the lower cap. The personal IHG cards are unaffected. Tracker entry
U.S. Bank Altitude Reserve transfer partners activated. After eight months without announcement, transfers to Flying Blue, Qantas, Ethiopian, and Accor are live, limited to the Altitude Reserve (applications closed since late 2024). Insight
Sapphire Reserve DoorDash promo rises to $15 any-order. Confirmed for October 1: the $5 restaurant-only promo becomes a $15 credit usable on any eligible order, raising the monthly DoorDash maximum from $25 to $35. Tracker entry
Chase Sapphire Lounge Phoenix ends advance reservations. Existing bookings honored through August 31; from September 1 the lounge is walk-up only. Insight
Ratio this window
80 documented devaluations versus 3 improvements over the trailing 12 months — a 27:1 ratio. Days since last logged devaluation: 2 (September 1).