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1. UOP ECO 561 Week 4 Assignment Inflation and Analyses of
Monetary Policies (2 Papers) NEW
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ECO 561 Week 4 AssignmentInflation and Analyses of Monetary
Policies (2 Papers) NEW
Inflation and Analyses of Monetary Policies
Purpose of Assignment
This assignment will introduce students to the U.S. Department of
Labor's Bureau of Labor Statistics (BLS) data and provide
students with the skills to calculate inflation and interpret the
Consumer Price Index (CPI). Note: The BLS is the primary source
of information on inflation, but their data is re-posted in other
sources, such as the St. Louis Federal Reserve FRED site, among
others.
Assignment Steps
Use an internet search or the University Library to locate
information on the Consumer Price Index (CPI). Internet sites you

2. might find useful include the Bureau of Labor Statistics (BLS) and
the Federal Reserve of St. Louis FRED web site although you are
allowed to use other sources.
Develop a minimum 700-word analysis of inflation by including
the following:
• Choose a product or service you currently consume/use, such as
apparel or educational services, that is included in the CPI's
"market basket." Find the annual CPI index numbers for your
chosen good or service for the years 1995, 2005, 2010, and 2015.
Enter those index numbers in an Excel® file and calculate the
percent change (inflation rates) in those index numbers from
1995 to 2005, from 1995 to 2010, and from 1995 to 2015.
• Analyze the trends in overall inflation over the last five years
and whether your income has kept pace with inflation. How has
inflation over the last five years affected you and/or your family?
• Discuss how a business manager, such as a human resources
manager, might use CPI statistics.
Cite a minimum of three scholarly, peer-reviewed references.
Format your paper consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.