Put another way, wages did not keep up with the overall pace of inflation.

But investors will probably focus more on the annual pace of inflation in the second quarter.

He did note that the pace of inflation, other than in energy prices, remained mild.

Retail sales increased over the period at the pace of inflation, but only because manufacturers raised their prices.

But the pace of inflation has accelerated this year.

The report calmed fears that the pace of inflation would rapidly pick up speed.

New drugs, diagnostics, and other technologies have accelerated costs far beyond the pace of inflation.

The pace of inflation had decreased and exports had grown.

"The December figures show a further welcome slowdown in the pace of inflation.

The wage growth of typical workers has barely kept up with the pace of inflation.

Since 1996, cable rates have risen 36 percent, almost three times the pace of inflation, the Consumers Union said.

Other analysts were more cautious, but supported the idea that the underlying pace of inflation may have peaked.

The President also wisely proposes to raise the deductible for physician services at the pace of inflation.

Even with the latest rate increase, short-term borrowing costs are barely equal to the pace of inflation and still well below historical averages.

The May minutes offer no evidence of a heated conflict, but they do reveal a skepticism about the benign pace of inflation.

"Even the high end of the range still suggests a subdued, benign and nonthreatening pace of inflation," he said.

There was no revision, however, in the pace of inflation as measured by either the fixed-weight index or the implicit deflator.

The central bank has repeatedly raised rates because of concerns that the pace of inflation, now slightly less than 3 percent a year, may soon accelerate.

But his argument is based on the rapid pace of economic growth, rather than on the pace of inflation.

The Labor Department revised downward today the pace of inflation it reported earlier for April and May.

Traders and investors will gain more insight into the pace of inflation from the Labor Department's report today on June consumer prices.

"If the hard facts indicate a faster pace of inflation, then I think the Fed will nudge up the Federal funds rate again."

Since the overall level of interest rates is greatly influenced by the pace of inflation, slower inflation should help reduce rates.

Market participants are waiting for clearer indications on the pace of inflation, possibly in Friday's report on producer prices in April.

Interest rates soared and prices of fixed-income securities plunged yesterday amid strong new evidence that the pace of inflation was quickening.