Question: https://fred.stlouisfed.org/series/PCEPILFE#0 ( open the link) What is the purpose of removing food and energy prices from the PCE? What do we call that measure of

https://fred.stlouisfed.org/series/PCEPILFE#0 ( open the link)

  1. What is the purpose of removing food and energy prices from the PCE? What do we call that measure of inflation?

  1. Over the time range shown in the graph, in what two time periods did the US experience the highest rates of inflation? What were these rates (approximately)?

  1. What has been the trend in inflation since 1980? In general, had there been much movement in inflation since 2000? What about over the past year?

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