Inflation and Prices
The Consumer Price Index (CPI) rose 0.2% in June after a worrisome 0.4% increase in May. Falling energy prices accounted for much of the deceleration: The CPI’s energy index fell 0.9% during the month, following May’s increase of 3.1%. Prices of petroleum-based energy products, in particular, fell 2.2% in June. Food prices, by contrast, accelerated slightly, rising 0.4% after an increase of 0.3% in May.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-08, pp. 02-03, 08.01.2001.