The Consumer Price Index is a measure of general inflation in the economy using the “market basket of goods” as defined by the Bureau of Labor Statistics. For this particular forum, it is important to understand the variables that have created some issues for the Consumer Price Index and how they can be accounted for outside of this particular measure of inflation.
Upon completion of this assignment, you should be able to:
The Bureau of Labor Statistics tries to measure the Consumer Price Index using a market basket of goods and services including food and beverages, housing, apparel, transportation, medical care, recreation, education, communication, and other goods and services. The introduction of new technologies can affect the CPI and will be a focus for this forum.
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