Board of Governors of the Federal Reserve System

price index for personal consumption expenditures (PCE) and the price

price pressure increased noticeably for some services but remained minimal...prices are at their lowest level in 4� years; livestock sales and prices

prices said both input costs and output prices were unchanged from April...higher-priced options in houses to be constructed. Average selling prices

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price pressures are little changed. Labor markets have apparently strengthened...the largest 12-month gain recorded this year. Hotels in the Buffalo-Niagara

and, perhaps, even welcomed. Despite slowing residential sales, most contacts...prices increased during August, but remained at low levels. Milk prices

prices remain depressed, and in the last few weeks, milk prices have dropped...Prices are on the rise across all products although most product prices

and, according to contacts, could continue to increase through the first...And, relative to the last two months of 2002, about as many builders saw

and, year-to-date, have been running well ahead of 2003 levels. More recently...and, to a lesser extent, from publishers. Other Business Activity A major

prices and weak global demand continued to put downward pressure on farm...prices held steady. Consumer Spending and Tourism Consumer spending increased