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Inflation and Prices

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Inflation remained unexpectedly restrained in July, as the Consumer Price Index (CPI) rose an annualized 2.3% and the Producer Price Index (PPI) for finished goods actually fell 0.9%. Nonetheless, data on the individual components of these indexes suggest that the overall rate of price increase is somewhat greater than the average figures indicate.

Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-09, pp. 08-09, 09.01.1997.

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