Inflation and Prices
After dropping sharply in June, retail prices resumed the strong upward trend that began last December. The Consumer Price Index (CPI) increased at an annualized rate of 3.1% in July, and has risen 3.5% since the beginning of the year, almost a percentage point higher than 1995's average increase. The core inflation indicators moved up even more in July: the median CPI, and the CPI excluding food and energy, rose an annualized 4.2% and 3.7% respectively.
Type: Economic Trends
Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-09, pp. 06-07, 09.01.1996.