Inflation and Prices
The recent broad-based rise in retail prices continues: The volatile Consumer Price Index (CPI) increased at a 2.6% annualized rate in April after surging 6.0% in March. Interestingly, the core CPI, which excludes volatile food and energy prices, increased at a faster rate than the overall index, advancing 3.1% (annualized rate) in April. The median CPI rose at a 4.1% annualized rate, its largest monthly increase since November 2001.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-06, pp. 02-03, 06.01.2004.