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The Consumer Price Index (CPI) is an economic term you've probably heard before but may not know much about. Broadly speaking, the CPI measures the price of consumer goods and how they're trending.
According to the latest Consumer Price Index numbers, prices rose 6.5% from December 2021 to December 2022, which is still a slight improvement from a June 2022 surge when prices rose 9.1% YoY.
Consumer prices rose 3.3% on a 12-month basis in May compared to 3.4% in April, according to data released by the Bureau of Labor Statistics. ... It's one reason why measures of consumer ...
From the marketer's point of view, an efficient price is a price that is very close to the maximum that customers are prepared to pay. In economic terms, it is a price that shifts most of the consumer's economic surplus to the producer. A good pricing strategy would be the one that could balance between the price floor (the price below which ...
For the consumer, price is only one part of total cost of a product. The consumer has the additional costs of transportation, usage and eventually, disposal of the product. Together, these costs are referred to as the total customer cost (TCC). In contrast to price, which is a producer-oriented concept, TCC focuses on the consumer and includes ...
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 services purchased in 92 ...
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 July consumer-price index shows an annual inflation rate of 2.9%, slightly below expectations and the smallest increase since March 2021. The slowing inflation rate may be a welcome change for ...