4th MAG Meeting

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  • Core or Underlying inflation will normally be “all items less food and energy” due to volatility1982-84 Base Year (US city average)
  • 4th MAG Meeting

    1. 1. Undergraduate Economics Association
    2. 2. Undergraduate Economics Association
    3. 3. Undergraduate Economics Association
    4. 4. Undergraduate Economics Association
    5. 5. Undergraduate Economics Association CPI 5 • Stock Definition: • “Produces monthly data on changes in the prices paid by urban consumers for a representative basket of goods and services” • BLS News Release • Can be considered a quasi cost-of-living measure • 2 population groups: • CPI-U (All Urban Consumers, 87%) • CPI-W (Urban Wage Earners and Clerical Workers, 32%) • Data is weighted based on relevance (Consumer Expenditure Survey) • Usage: • Economic Indicator (policy efficacy) • Deflator (for adjusting economic data) • Income / wage bargaining • 80 Million tied • 27 Million school lunches
    6. 6. Undergraduate Economics Association
    7. 7. Undergraduate Economics Association
    8. 8. Undergraduate Economics Association
    9. 9. Undergraduate Economics Association
    10. 10. Undergraduate Economics Association

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