Inflation and Prices
After increasing 0.2% in July, the Consumer Price Index (CPI) fell an annualized 0.7% in August, its first drop in more than 14 years. Energy prices again played a prominent role in the retail inflation estimate, as prices for petroleum products declined 5.5% (monthly).
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-10, pp. 08-09, 10.01.2000.