Social Sciences and the Law

What is the Consumer Price Index?

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The U.S. Bureau of Labor Statistics produces the Consumer Price Index (CPI) yearly, which measures average price changes in relation to prices in an arbitrarily selected base year. While the CPI is usually considered the most reliable estimate of inflation, some economists have questioned whether it overstates inflationary trends.

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Similar questions: What is the CPI? What is the most reliable estimate of inflation? What is a good estimate of inflation? What measures average price changes in relation to prices in an arbitrarily selected base year? [ Hide these questions ]

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