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Inflation and Prices

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The CPI made an unexpected jump in January (4.8% at an annualized rate), following a string of very moderate increases leading back to mid-1995. Although energy items accounted for a share of January's cost-of-living rise, the core inflation measures - the CPI excluding food and energy goods and the median CPI - also rose sharply, by 3.7% and 4.3% respectively.

Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-03, pp. 06-07, 03.01.1996.

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