How is the CPI data used?

The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The CPI is calculated and published monthly by the Bureau of Labor Statistics (BLS). The CPI is used to track inflation, which is the rate … Read more

Inflation Explained Simply!

Inflation refers to the general increase in prices of goods and services over time. When inflation occurs, the purchasing power of money decreases, which means that you can buy less with the same amount of money. Imagine you have $10, and you could buy a sandwich with that money. However, if inflation happens, the price … Read more