Progress on Inflation: Hearing Before the Subcommittee on Monetary and Fiscal Policy of the Joint Economic Committee, Congress of the United States, Ninety-seventh Congress, Second Session, April 23, 1982
U.S. Government Printing Office, 1982 - Fiscal policy - 32 pages
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0.5 percent actually annual apparel areas average base period beverages billion budget Bureau of Labor Chairman changes charges coming commodities commooities component concerned Consumer Price Index continue costs course CPI-U declined deficit economic ended energy expect expenditures fact February Federal figure financial markets fiscal Food and beverages FOOO fuel gasoline going Government growth half housing important includes increases inflation inflation rate interest rates it's items less January Joint Economic Committee Labor Statistics less rooo look lower measure months past percent in March Personal population President production progress purchase question rates recession recovery rent represent result rising rose savings seasonally adjusted Senator Abdnor Senator Jepsen Senator Mattingly shelter spending supplies term Thank there's transportation Urban utilities Weidenbaum weights Workers
Page 12 - Area indexes do not measure differences in the level of prices among cities, they only measure the average change in prices for each area since the base period.
Page 12 - CPI-U includes, in addition to wage earners and clerical workers, groups which historically have been excluded from CPI coverage, such as professional, managerial, and technical workers, the self-employed, short-term workers, the unemployed, and retirees and others not in the labor force. The CPI is based on prices of food, clothing, shelter, and fuels, transportation fares, charges for doctors' and dentists' services, drugs, and the other goods and services that people buy for day-to-day living.
Page 12 - ... establishments — grocery and department stores, hospitals, filling stations, and other types of stores and service establishments.
Page 12 - Prices of most goods and services are obtained by personal visits of the Bureau's trained representatives. Mail questionnaires are used to obtain public utility rates, some fuel prices, and certain other items. In calculating the index, price changes for the various items in each location are averaged together with weights which represent their importance in the spending of the appropriate population group. Local data are then combined to obtain a US city average. Separate indexes are also published...
Page 14 - Statistics through the National Technical Information Service of the US Department of Commerce.
Page 12 - Prices of most other commodities and services are collected every month in the five largest geographic areas and every other month in other areas. Prices of most goods and services are obtained by personal visits of the Bureau's trained representatives.
Page 13 - Note on Seasonally Adjusted and Unadjusted Data Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted as well as unadjusted changes each month. For analyzing general price trends in the economy, seasonally adjusted changes are usually preferred, since they eliminate the effect of changes that normally occur at the same time and in about the same magnitude every year — such as price movements resulting from changing climatic...
Page 12 - Index (CPI) is a measure of the average change in prices over time in a fixed market basket of goods and services. Effective with the January 1978 index, the Bureau of Labor Statistics began publishing CPI's for two population groups: (1) a new CPI for All Urban Consumers...
Page 6 - All items Food and beverages Housing Apparel and upkeep Transportation Medical care Entertainment Other goods and services Changes from 1979 Dec.
Page 12 - CPI's for two population groups: (1) A new CPI for All Urban Consumers (CPI-U) which covers approximately 80 percent of the total noninstitutional civilian population; and (2) a revised CPI for Urban Wage Earners and Clerical Workers (CPI-W) which represents about half the population covered by the CPI-U. The CPI-U includes, in addition to wage...