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The annual percent change in the US Consumer Price Index for All Urban Consumers is one of the most common metrics for price inflation in the United States. The United States Consumer Price Index (CPI) is a family of various consumer price indices published monthly by the United States Bureau of Labor Statistics (BLS). The most commonly used ...
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 Urban Wage Earners and Clerical Workers (CPI-W), covers approximately 29 percent of the U.S. population. This index is used predominantly for adjusting Social Security ...
Economic indicators include various indices, earnings reports, and economic summaries: for example, the unemployment rate, quits rate (quit rate in American English), housing starts, consumer price index (a measure for inflation), inverted yield curve, [1] consumer leverage ratio, industrial production, bankruptcies, gross domestic product ...
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]
In March 1979, the Financial Accounting Standards Board (FASB) wrote Constant Dollar Accounting, which advocated using the Consumer Price Index for All Urban Consumers (CPI-U) to adjust accounts because it is calculated every month. [6] During the Great Depression, some corporations restated their financial statements to reflect inflation.
The consumer price index, for example, uses data collected by surveying households to determine what proportion of the typical consumer's overall spending is spent on specific goods and services, and weights the average prices of those items accordingly. Those weighted average prices are combined to calculate the overall price.
Chained dollars, also known as "chained consumer price index" or "chained CPI," is a measure of inflation that takes into account changes in consumer behavior in response to changes in prices. It is used to adjust certain economic variables, such as tax brackets and Social Security payments, for inflation.