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Consumer Price Index Report (CPI)

The Consumer Price Index Report contains detailed information on Oklahoma’s CPI and comparisons with the region and nation.

The 1st quarter average Consumer Price Index (U.S. City Average) increased to 310.4 from its 307.2 level last quarter indicating there is still strong inflation compared to this time last year. The current levels of inflation (3.1% in January, 3.2% in February, and 3.5% in March) are still above the level that the Federal Reserve generally considers acceptable. The Federal Reserve doesn’t anticipate the U.S. reaching its target inflation rate of 2% until 2026. The series of rate hikes that began in the spring of 2022 allowed the Federal Reserve to strike the delicate balance of decreasing demand and spending without curbing employment and sending the U.S. economy toward a recession. The results are improving economic conditions, which has allowed the Federal Reserve to be less aggressive with rate hikes in recent months.

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