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Inflation and Prices

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The Consumer Price Index (CPI) rose at the brisk annualized rate of 8.2% in January, nearly reversing the declines of the preceding two months. About 70% of the January advance was attributed to a 79.4% (annualized rate) gain in energy costs, which had remained stable or declined since September 2005. Growth in the core retail price measures was more moderate, but slightly above the 12-month trends, with the CPI excluding food and energy up 2.4% (annualized rate) and the median CPI up 2.6% (annualized rate) during the month.

Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 06-03, pp. 02-03, 03.15.2006.

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