Inflation and Prices
In June, the Consumer Price Index (CPI) remained unchanged for the second straight month. The flat price index numbers, following an annualized 9.1% jump in April, resulted in a 2.9% increase (annualized) over the three-month period. The trend in median CPI growth—an alternative measure of price inflation—has slowed somewhat (up only 2.4% over the past three months), although this measure remains ½ percentage point above both the CPI and the CPI excluding food and energy over the past 12 months.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-08, pp. 07-08, 08.01.1999.