Inflation and Prices
The inflation indicators have accelerated a bit recently, although the year-to-date estimates are still quite low by historical standards. In the past three months, the Consumer Price Index (CPI) has increased at a 2.5% annual rate, an uptick from its nine-month average of 1.8% but a shade under its five-year pace of 2.7%. The median CPI, an alternative measure of the retail price trend, has moved up 2.6% over the past three months, also slightly under its five-year trend (2.9%). Similar patterns at the wholesale level are apparent in the Producer Price Index (PPI).
Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-11, pp. 08-09, 11.01.1997.