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Inflation and Prices

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Inflation pressures intensified in March. The Consumer Price Index (CPI) rose at a 4.3% annualized rate, after holding steady in February. However, monthly growth in the core retail price measures was brisk: The CPI excluding food and energy rose 4.2% (annualized), the fastest monthly rate since November 2001. The Bureau of Labor Statistics attributed 70% of the core CPI’s monthly rise to an acceleration in apparel and shelter prices. Meanwhile, the median CPI surged 5.0%—its fastest monthly growth rate since February 1994.

Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 06-05, pp. 02-03, 05.15.2006.

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