Use the data below to explain the current state of the economy. Explain what this piece of data illustrates about the economy's health as well as the OVERALL health of the economy.

Economic data:

According to the Bureau of Labor Statistics the Inflation Rate calculated using the CPI is 1.4% as of January 2020 which is significantly lower than an average of 2.3% in 2019. According to the Federal Reserve, the inflation rate over the past 18 years as measured by the PCE index is as follows:

FRED ~- Trimmed Mean PCE Inflation Rate 3.0 2.5 2.0 Percent Change from Year Ago 1.5 1.0 0.5 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Shaded areas indicate U.S. recessions Source: Federal Reserve Bank of Dallas myf.red/goau