Inflation Data- ''Consumer Price Index Summary''

Inflation Data- ''Consumer Price Index Summary''
Name Course Instructor Date
- What is the Consumer Price Index (CPI) and what does it measure?Bureau of Labor Statistics
The Consumer Price Index (CPI) measures of the changes in the general level of prices paid by urban consumers for a market basket of final goods and services of households of income strata
- Has the CPI been trending upward or downward over the past six months?The CPI has been trending upward over the past six monthsAs you scroll down through the summary, you will see a paragraph about the price changes with Food, Energy and All items less food and energy.- What did you learn about the food index?
The food index was the driver of the increase in the CPI since in December 2020 “both the food at home and the food away from home indexes increased 0.4 percent”. The food index decreased 3.9% over the last 12 months.
- What did you learn about the energy index?
The energy index was the main driver of the increase in the CPI as the gasoline index increased by 8.4%, which accounted for 60% of the overall increase the gasoline index continued to rise for urban consumers compared to the previous month and year.
- What did you learn about the index for all items less food and energy?
The index for all items less food and energy increased by 1.6 % over the last 12 months, just like in the periods ending October and November (Bureau of Labor Statistics, 2021).
Next, please read the ''Consumer Price Index for All Urban Consumers'' (Links to an external site.) to learn about additional detail behind the Consumer Price Index.- What are some of the items that have experienced price increases?
The food index increased 3.9 % in the period December 2019 to 2020 and increased by 0.4 % in November to December 2020, having decreased by 0.1% in the previous month
- What are some of the items that have experienc...