Inflation and Prices
Retail price growth remained elevated in August: The Consumer Price Index (CPI) rose 3.0%, and the core CPI, which excludes the more volatile food and energy prices, rose 2.9% (annualized rates). The median CPI, which attempts to isolate an inflation trend by focusing on the middle of the monthly price-change distribution, rose 3.4% (annualized) following increases of more than 4.0% in each of the previous three months.
Suggested citation: “Inflation and Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 06-10, pp. 02-03, 10.15.2006.