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Inflation and Prices

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The Consumer Price Index (CPI) remained unchanged in January, while the Producer Price Index (PPI) fell an annualized 7.9%. Both indexes were heavily influenced by falling energy prices. With the volatile food and energy components removed, the CPI climbed 2.1% for the month, while the PPI declined a much smaller 1.7%.

Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-03, pp. 08-09, 03.01.1998.

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