Inflation and Prices
Following a modest 0.1% increase in March, the Consumer Price Index (CPI) rose 0.3% in April. A 1.8% surge in energy prices contributed to the jump in retail prices. Energy prices, which tend to behave erratically from month to month, have been exceedingly volatile this year, contributing to uncertainty about where the inflation trend is headed. Even within the energy components, price behavior has been volatile and mixed: In April, motor fuel prices registered an extreme increase (4.8%), while household fuel oils posted one of the month’s sharpest retail price declines and natural gas and electricity prices also fell.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-06, pp. 02-03, 06.01.2001.