May 1, 2024
3 minute read
The Consumer Price Index (CPI) is a measure of the average change over time in prices paid by urban consumers for a basket of goods and services. It is a measure of inflation, which is the rate at which prices for goods and services are rising. The CPI is calculated by taking the average price of a basket of goods and services in a given month and dividing it by the average price of the same basket of goods and services in a base month. The CPI is then multiplied by 100 to create an index number. An index number of 100 means that the prices of the goods and services in the basket have not changed since the base month. An index number of 110 means that the prices of the goods and services in the basket have increased by 10% since the base month.
History
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Find a path to becoming a Consumer Price Index. Learn more at:
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Reading list
We've selected ten books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Consumer Price Index.
This manual provides a comprehensive overview of the Consumer Price Index (CPI), including its history, methodology, and uses. It is an essential resource for anyone who wants to understand how the CPI is calculated and used to measure inflation.
Examines the relationship between inflation targeting and the Consumer Price Index (CPI). It provides a detailed analysis of the CPI and its role in the Federal Reserve's inflation-targeting framework.
Provides a detailed history of the Great Inflation of the 1970s and its aftermath. Gordon argues that the CPI underestimated inflation during this period and that the Fed's monetary policy was too loose.
Provides a comprehensive overview of inflation targeting, including the theory, practice, and challenges of implementing inflation targeting.
Provides a detailed discussion of the measurement of inflation, including the different types of price indices and the challenges of measuring inflation accurately.
Provides a theoretical analysis of inflation dynamics and monetary policy. Woodford argues that the CPI is not a reliable guide to monetary policy and that the Fed should focus on targeting a different measure of inflation.
Provides a political economy analysis of inflation. Sargent argues that inflation political problem and that the Fed should be independent of political pressures.
Provides a theoretical analysis of the relationship between inflation and economic growth. Aghion and Banerjee argue that inflation can have both positive and negative effects on growth.
Provides a detailed analysis of the relationship between inflation and income inequality. Reinhart and Rogoff argue that inflation can have a significant impact on income inequality.
Provides a concise overview of the causes, consequences, and policy responses to inflation. It good starting point for students who are new to the topic of inflation.
For more information about how these books relate to this course, visit:
OpenCourser.com/topic/ll6kag/consumer
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