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Inflation and Prices

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After rising sharply in September (at a 6.4% annual rate), the Consumer Price Index (CPI) rose much more moderately in October (at an annual rate of 2.1%). Much of this deceleration can be attributed to a smaller energy price increase—only 0.2% in October, after an increase of 3.8% the previous month. Nevertheless, the 12-month percent change of 3.5% in the CPI as of October 2000 is still almost 1 percentage point higher than it was at the same time last year. This price acceleration is apparent in the core indexes—the median CPI and the CPI excluding food and energy—as well, suggesting that price increases in 2000 have not been confined to energy items.

Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-12, pp. 09-10, 12.01.2000.

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