Popular Price Indices
Two relatively popular price indices are used in the United States today, the Consumer Price Index (CPI) and the Producer Price Index (PPI). These price indices are compiled by the Department of Labor (Bureau of Labor Statistics) and the Department of Commerce (Bureau of Economic Analysis). We'll look at both indices in some detail. More information about the CPI and PPI can be found at http://www.bls.gov/home.htm.
CONSUMER PRICE INDEX
The Consumer Price Index (CPI) measures price change from the retail purchaser's perspective. The CPI is based on the spending habits of the average household consumer; the market basket includes about 400 different goods and services, such as the following:
Housing
Food and beverage
Apparel ...
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