Inflation and Prices
The Consumer Price Index rose 0.2% (2.0% annual rate) in September. According to the Labor Department, energy prices have risen for three consecutive months: 0.4% in July, 0.6% in August, and 0.7% in September. Despite these recent increases, however, year-over-year comparisons reveal deflation in energy prices. Higher food prices also contributed to the rise in the CPI. The index for food, after declining 0.1% in August, rose 0.2% in September.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-11, pp. 02-03, 11.01.2002.