Inflation and Prices
Prices in July were subdued on the whole, although anxiety about a reignition of inflation reportedly remains the focal point of any further adjustment to Federal Reserve policy. The CPI jumped an annualized 3.7% during the month, mostly as the result of an upward spike in energy prices. Excluding food and energy, the CPI rose 2.1% in July.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-09, pp. 07-08, 09.01.1999.