Inflation and Prices
The Consumer Price Index (CPI) declined sharply in October for the second straight month, falling at a 5.8% annualized rate. However, the core inflation measures continued to hold steady, with monthly growth rates about the same as—or lower than—their longer-term trends. The CPI excluding food and energy rose a moderate 1.2%, while the median CPI climbed 3.7%.
Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 06-12, pp. 02-03, 12.15.2006.