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Inflation and Prices

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The Consumer Price Index (CPI) rose at an annualized rate of 0.6% in January after remaining unchanged in December; the core CPI, which excludes the volatile food and energy prices, rose at a 2.4% annualized rate. The median CPI, which attempts to control for volatile monthly price changes by considering the center of the monthly price-change distribution, increased at a brisk 3.2% annualized rate, its second-largest advance in the past year.

Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 05-03, pp. 02-03, 03.01.2005.

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