Search results
Results from the WOW.Com Content Network
However, from December 1982 through December 2011, the all-items CPI-E rose at an annual average rate of 3.1 percent, compared with increases of 2.9 percent for both the CPI-U and CPI-W. [28] This suggests that the elderly have been losing purchasing power at the rate of roughly 0.2 (=3.1–2.9) percentage points per year.
A CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. Sub-indices and sub-sub-indices can be computed for different categories and sub-categories of goods and services, which are combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the ...
The Consumer Price Index for All Urban Consumers (CPI-U), which covers about 93 percent of the U.S. population, excluding those living in remote rural areas, farm households, institutions, or on ...
The most common type of market basket is the basket of consumer goods used to define the Consumer Price Index (CPI), often called the consumer basket. It is a sample of goods and services, offered at the consumer market. In the United States, the sample is determined by Consumer Expenditure Surveys conducted by the Bureau of Labor Statistics. [1]
The C-CPI-U tries to mitigate the substitution bias that is encountered in CPI-W and CPI-U by employing a Tornqvist formula and utilizing expenditure data in adjacent time periods in order to reflect the effect of any substitution that consumers make across item categories in response to changes in relative prices. The new measure, called a ...
For example, the elderly consume roughly double the medical care of all urban consumers (studied for CPI-U and C-CPI-U) and urban wage earners and clerical workers (for CPI-W); inflation in medical care has exceeded that in much of the rest of the economy. To adjust for this, the BLS computes a consumer price index for the elderly (CPI-E). [16]
For particularly broad indices, the index can be said to measure the economy's general price level or cost of living. More narrow price indices can help producers with business plans and pricing. Sometimes, they can be useful in helping to guide investment. Some notable price indices include: Consumer price index; Producer price index
The Boskin Commission, formally called the "Advisory Commission to Study the Consumer Price Index", was appointed by the United States Senate in 1995 to study possible bias in the computation of the Consumer Price Index (CPI), which is used to measure inflation in the United States. Its final report, titled "Toward A More Accurate Measure Of ...