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Inflation and Prices

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The Consumer Price Index (CPI) rose at a 2.2% annualized rate in January, about the same as each of the previous three months. Likewise, the CPI excluding food and energy, a gauge of so-called core inflation, increased at a 2.0% annualized rate. Over the past 12 months, however, the two indexes have diverged, the CPI growing by 2.7% and the CPI excluding food and energy by 1.9%.

Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-03, pp. 07-08, 03.01.2000.

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