Inflation and Prices
Retail prices took a step higher in April, as the Consumer Price Index (CPI) rose an annualized 3%— twice its average increase over the past 12 months. Excluding food and energy, the CPI jumped an annualized 3.5% during the month, another rather sharp rise from its recent trend.
Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-06, pp. 08-09, 06.01.1998.