CPI Indicates Tame Inflation

Chart of the Week for May 18-24, 2001

U.S. consumer prices indicate inflation remains in check. The Consumer Price Index, which measures the average change in prices paid by urban consumers for a fixed basket of goods and services, edged up 0.3% in April. It is 3.3% higher on a year-over-year basis. The core rate, which excludes the more volatile food and energy sectors, rose 0.2% in April and is 2.6% higher than a year ago. With the economy struggling, tame inflation gives the Federal Reserve greater flexibility for additional interest rate cuts.

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