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 · Web viewOverall inflation, as measured by the consumer price index (CPI), has been roughly stable in the 1% to 2% range. Core inflation, excluding food and energy prices, was 2% during the 12 months through May 2014, close to the Federal Open Market Committee's (FOMC) target. In the long run, the overall CPI inflation rate is projected to be 2.3% per year.

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