Inflation and Prices
Inflation pressures remained elevated in April. The Consumer Price Index (CPI) rose 7.5% (annualized rate) in April, accelerating from its three- and 12-month trends. Likewise, the CPI excluding food and energy, which jumped 4.2% in March, rose 3.6% in April, while the median CPI, which surged 5.0% in March, rose 3.3%. Monthly growth in both of these core retail price measures exceeded their longer-term growth trend.
Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 06-06, pp. 02-03, 06.15.2006.