Inflation and Prices
Retail price measures grew modestly in November. The Consumer Price Index (CPI) rose at a 1.9% annualized rate during the month after surging 7.9% in October. Growth in alternative retail price measures was equally restrained: The core CPI, which excludes volatile food and energy prices, rose 1.8%, whereas the median CPI, which examines the center of the monthly price change distribution,rose a mere 1.1%—its smallest monthly growth rate in over a year.
Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 05-01, pp. 02-03, 01.01.2005.