How do news outlets report inflation, and how does inflation crossing round-number thresholds, such as 5 or 10 percent, affect that coverage? We study a large corpus of inflation-related headlines from 175 mainstream news outlets across 29 European countries, spanning 2017–2024. Beyond the sharp rise in coverage volume during the early 2020s inflation surge, we document novel patterns in headline composition. As inflation rises, the numerical precision of reported inflation figures declines, while sensational framing follows an inverted-U shape, rising initially but declining at particularly high inflation rates. Using a regression discontinuity design, we find that crossings of round-number thresholds induce discrete shifts in headline composition, most notably toward headlines reporting inflation in multiples of five. These findings imply that the media do not merely transmit official inflation statistics but alter how inflation is communicated to the public, in ways that may have economic effects beyond the underlying change in inflation.