Inflation and Prices
After jumping 7.8% in March, the Consumer Price Index (CPI) rose a strong 6.4% in April. Energy prices, which account for roughly 8.0% of the overall index, rose a dramatic 69.5% (annualized rate) in April after two months of sharp price increases. However, monthly growth in the core retail price measures was moderate: The core CPI, which excludes the volatile food and energy components, rose a mere 0.6% (annualized rate), and the median CPI rose 2.2% (annualized rate).
Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 05-06, pp. 02-03, 06.01.2005.