Inflation and Prices
The Consumer Price Index surged up 15.7% (annualized rate) in September, the largest monthly rise in overall retail prices in more than 25 years. Energy costs, which accounted for over 90% of the CPI’s September rise, soared 289.1% (annualized rate), the highest monthly price increase since the series began in 1957. Meanwhile, growth was considerably more subdued in the core and median CPI, rising 1.2% and 1.7%, respectively.
Suggested citation: "Inflation and Prices," Federal Reserve Bank of Cleveland, Economic Trends, no. 05-11, pp. 02-03, 11.01.2005.