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The economic data published on FRED are widely reported in the media and play a key role in financial markets. In a 2012 Business Insider article titled "The Most Amazing Economics Website in the World", Joe Weisenthal quoted Paul Krugman as saying: "I think just about everyone doing short-order research — trying to make sense of economic issues in more or less real time — has become a ...
The annual CPI is calculated by dividing the value of the basket of goods today by the value from a year ago and multiplying by 100. This formula determines the overall inflation rate, which is ...
Consumer Price Index Summary, U.S. Bureau of Labor and Statistics. Accessed January 16, 2025. Producer Price Index News Release summary, U.S. Bureau of Labor and Statistics. Accessed January 15, 2025.
The Consumer Price Index was initiated during World War I, when rapid increases in prices, particularly in shipbuilding centers, made an index essential for calculating cost-of-living adjustments in wages. To provide appropriate weighting patterns for the index, it reflected the relative importance of goods and services purchased in 92 ...
A CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. Sub-indices and sub-sub-indices can be computed for different categories and sub-categories of goods and services, which are combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the ...
A car is a durable good. The gasoline that powers it is a non-durable (or consumable) good.. In economics, a durable good or a hard good or consumer durable is a good that does not quickly wear out or, more specifically, one that yields utility over time rather than being completely consumed in one use.