Inflation and Prices
The monthly price statistics continue to show only modest growth, a sign that inflationary pressures in the economy remain light. Retail prices as measured by the Consumer Price Index (CPI) were up 2.2% in March, only slightly above their 12-month trend of 1.8%. Even the median CPI, which has tended to track more than a percentage point higher than the CPI over the past few years, slowed to a 1.3% increase in March and has averaged only 1.6% during the first three months of 1999.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-05, pp. 07-08, 05.01.1999.