Using data on the consumer price index (CPI) for all urban consumers, calculate and graph the annual U.S. inflation rate (the percentage change in the price index from one year ago) for each year since 1948. In which periods within the postwar era did the United States experience the most severe inflation problems? In which periods has inflation been the most stable (that is, roughly constant from one year to the next)?

Consumer Price Index for All Urban Consumers:

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FRED Consumer Price Index for All Urban Consumers: All Items in U.S. City Average 320 Index 1982-1984-100 280 240 200 160 120 Sep 1947: 22.840 40 0 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 1950 1960 1970 1000