Inflation and Prices
The recent acceleration in energy price increases reversed course in February, after a January in which the Consumer Price Index (CPI) posted its largest monthly increase in more than a decade. The sharp January rise was largely the result of an outsized increase in the CPI’s energy sub-index; according to the Labor Department, this measure rose an annualized 57.6%, accounting for over half of the overall increase in the CPI. The energy sub-index itself was propelled by a record increase in the index for utility natural gas, which rose 17.4% in the month.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-04, pp. 02-03, 04.01.2001.