Inflation and Prices
After a blistering 0.7% rise in April, the Consumer Price Index (CPI) held steady in May (somewhat below analysts’ expectations). Still, over the past three months, the CPI has grown an annualized 3.7%, two percentage points above its average for 1997–98.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-07, pp. 07-08, 07.01.1999.