Inflation and Prices Sources and Footnotes a. Calculated by the Federal Reserve Bank of Cleveland. As measured by the KR-CRB composite futures index, all commodities. Data reprinted with permission of the Commodity Research Bureau, a Knight-Ridder Business Information Service.
Horizontal lines represent trends.
Upper and lower bounds for CPI inflation path as implied by the central tendency growth ranges issued by the FOMC and nonvoting Reserve Bank presidents. Mean expected 12-month change in consumer prices as measured by the University of Michigan's Survey of Consumers.