Inflation and Prices
Consumer prices showed little movement in January, as the Consumer Price Index (CPI) inched up an annualized 1.5%, with much of the increase caused by higher food prices. After exclusion of the volatile food and energy components, the CPI showed even less movement, rising a mere 0.7% (annualized). The median CPI, an alternative measure of inflation, showed little change in January, rising an annualized 1.3%.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-03, pp. 07-08, 03.01.1999.