Transcription of Application: Using the Consumer Price Index (CPI)
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Application: Using the Consumer Price Index (CPI)
Using THE Consumer Price Index (CPI) inflation is a decline in the purchasing power of money, meaning that prices are increasing. For budgeting, inflation either drives spending up or services down because it takes more dollars to purchase supplies and equipment and to provide services. More dollars are needed to continue doing what has been done in the past. The best-known gauge of changing prices is the Consumer Price Index (CPI). This measures the average change in the prices of Consumer items, the goods and services that people buy for daily living. The Department of Labor, Bureau of Labor Statistics (BLS) compiles the CPI. The CPI for All Urban Consumers (CPI-U) covers approximately 87 percent of the population.
USING THE CONSUMER PRICE INDEX (CPI) Inflation is a decline in the purchasing power of money, meaning that prices are increasing. For budgeting, inflation either drives spending up or services down because it takes more dollars to
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