Inflation and Prices
The monthly price statistics took an unexpected jump in October, spurred mostly by higher food and energy prices. Producer prices increased at an annualized rate of nearly 5% during the month; however, excluding a temporary (and probably reversible) spike in food and energy prices, they actually fell 3.3% in October. At the retail level, October prices increased at about a 4% pace, but a percentage point less after food and energy goods are factored out.
Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-12, pp. 07-08, 12.01.1996.