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US Historical Inflation Ancient. The Consumer Price Index was initiated during World War I, when rapid increases in prices, particularly in shipbuilding centers, made an index essential for calculating cost-of-living adjustments in wages. To provide appropriate weighting patterns for the index, it reflected the relative importance of goods and ...
The latest data from the Bureau of Labor Statistics showed that the Consumer Price Index (CPI) increased 3% over the prior year in January, an uptick from December's 2.9% annual gain in prices.
Consumer prices overall increased 3% from a year earlier, up from 2.9% the previous month, according to the Labor Department’s consumer price index, a measure of goods and service costs across ...
Annual inflation ticked up for a third straight month in December as food, energy costs rose, CPI report showed. But underlying price measure eased. Inflation rose to 5-month high in December.
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 ...
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]
The consumer price index rose 0.3% last month, the largest gain since April after advancing 0.2% for four straight months, the Labor Department's Bureau of Labor Statistics said.
The index rose 0.3% month over month after rising 0.4% in October. Shelter contributed to nearly 40% of the monthly increase in overall inflation, the BLS said.