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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 ...
America’s red-hot inflation rate just got hotter. The consumer price index (CPI), which measures a variety of goods and services, rose 8.5% in March from a year earlier. The CPI report for March ...
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 ...
U.S. inflation likely accelerated in January, with prices across a wide range of goods and services soaring further amid lingering shortages and supply chain disruptions.
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 ...
U.S. consumer prices rose at a slightly slower pace in April compared to March, though persistent supply-side disruptions still kept inflation near its highest level in 40 years.
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Collecting only new price data is often easier than collecting both new price data and new quantity data, so calculating the Laspeyres index for a new period tends to require less time and effort than calculating these other indices for a new period. [10]