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Inflation and Prices

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Consumer and wholesale prices rose at an annualized rate of about 2% in July, partly restrained by falling energy costs. Excluding food and energy goods, the Consumer Price Index (CPI) and the Producer Price Index (PPI) each rose about 2 1/2%, both well above their 12-month growth trends.

Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 03-09, pp. 02-03, 09.01.2003.

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