Essay heading: 2004 Economic Report of the President

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Social Issues

 

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April 7, 1997

 

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4 / 904

 

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The Consumer Price Index (CPI), which measures the average cost of all goods and services, increased by 3.3% during the entire year of 2004. Contrast this with the lesser rate of 1.9% increase during all of 2003. These rising interest rates may be a direct cause of the lowering unemployment rates and raising wage rates...
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Contrast this with the lesser rate of 1.9% increase during all of 2003. These rising interest rates may be a direct cause of the lowering unemployment rates and raising wage rates. Much of the growth was observed in the energy sector, with consumer energy prices rising 17% during 2004. As I said, two factors that contribute to the rising inflation rate are falling unemployment rates and rising wages...
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