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Inflation and Prices

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Retail price increases remained generally modest in December, as the Consumer Price Index (CPI) increased an annualized 1.5% to finish the year with a 1.6% gain—0.1 percentage points less than 1997’s low rate. Price increases were larger at the wholesale level in December, although the Producer Price Index (PPI) showed essentially no change for the year as a whole.

Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-02, pp. 07-08, 02.01.1999.

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