Inflation Watch

Chart of the Week for April 18-14, 2003

Inflation remains in check with the exception of frequently volatile energy costs. The Consumer Price Index (CPI), which measures the average change in prices paid by urban consumers for a fixed basket of goods and services, rose slightly in March. Overall, prices are 3.0% higher than a year ago. Core CPI (excluding-food and energy) was unchanged in March and is up 1.7% from a year ago. The increase in March energy prices was lower than February’s increase and could be a sign that prices are ready to return to more normal levels.

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