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Inflation and Prices

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The Consumer Price Index rose 0.1% (1.3% annual rate) in July, the same rate of increase it posted in June. According to the Labor Department, the CPI indexes for food and energy, which were unchanged in June, rose 0.2% for food (2.1% annual rate) and 0.4% for energy (5.0% annual rate) in July. Moreover, the CPI communications index rose sharply during the month, partly because of a hike in postal rates.

Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-09, pp. 02-03, 09.01.2002.

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