Inflation and Prices
The Consumer Price Index rose 6.3% in August, following a 6.4% rise in July. Energy prices surged ahead for the second consecutive month, jumping nearly 80% (annualized rate), but growth in the core retail price measures was much more subdued. The core CPI rose a modest 1.2%, substantially below its 12-month trend of 2.1%, while the median CPI rose 2.1%, also below its 12-month trend of 2.3%.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 05-10, pp. 02-03, 10.01.2005.