US Consumer Price Index CPI Economic
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What is US Consumer Price Index?
The US Consumer Price Index (CPI) is a crucial measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. This basket includes categories such as food, housing, apparel, transportation, medical care, and recreation. Economists and policymakers closely monitor the CPI as it is a primary gauge of inflation and a key input for monetary policy decisions made by the Federal Reserve. Understanding inflation trends helps them assess the overall health and stability of the economy. The CPI is calculated by collecting price data for a wide range of goods and services and weighting them according to their importance in consumer spending. An increasing CPI signals rising inflation, which can erode purchasing power and potentially lead to higher interest rates. Conversely, a declining or stagnant CPI may indicate deflationary pressures, which can also be detrimental to economic growth by discouraging spending and investment. Therefore, shifts in CPI values provide vital insights into inflationary pressures and the broader economic landscape.
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