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Each month, the BLS gathers data from approximately 23,000 retail and service establishments, along with rental data from thousands of landlords or tenants, generating about 94,000 price quotes.
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 most common type of market basket is the basket of consumer goods used to define the Consumer Price Index (CPI). 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 consumer price index for urban wage earners and clerical workers (CPI-W) is a continuation of the historical index that was introduced after World War I for use in wage negotiation. [23] As new uses were developed for the CPI, the need for a broader and more representative index became apparent.
The PCE price index (PePP), also referred to as the PCE deflator, PCE price deflator, or the Implicit Price Deflator for Personal Consumption Expenditures (IPD for PCE) by the Bureau of Economic Analysis (BEA) and as the Chain-type Price Index for Personal Consumption Expenditures (CTPIPCE) by the Federal Open Market Committee (FOMC), is a United States-wide indicator of the average increase ...
A price index (plural: "price indices" or "price indexes") is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time.
An index number is an economic data figure reflecting price or quantity compared with a standard or base value. [5] [6] The base usually equals 100 and the index number is usually expressed as 100 times the ratio to the base value. For example, if a commodity costs
The Higher Education Price Index (HEPI) is a measure of the inflation rate applicable to United States higher education.HEPI measures the average relative level in the prices of a fixed market basket of goods and services typically purchased by colleges and universities through current-fund educational and general expenditures, excluding expenditures for research.