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Inflation and Prices

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After large increases in the first two months of 2001, the Consumer Price Index (CPI) rose a very modest 0.1% (0.7% annualized) in March. Energy prices declined for the second straight month (–22.4% annualized), as the prices of household fuels fell 8.4% and motor fuel prices dropped 36.4% (both annualized). Food prices (up an annualized 2.8% in March, compared to 5.8% in February) also contributed to March’s slower CPI growth.

Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-05, pp. 02-03, 05.01.2001.

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