COPYRIGHTED MATERIAL
EXPLORING 21st CENTURY SKILLS AND ISSUES
Name: _____________________________________________________________________________
The Consumer Price Index Data about commerce is published in reports called economic indicators . In the U.S., information about consumer spending is published in the Consumer Price Index (CPI) . This important report enables the government and private businesses to make all sorts of policy decisions and predictions about product sales, prices, wages, hiring or reducing the workforce, inflation, and other matters related to commerce. Your job: Go to the Bureau of Labor Statistics CPI FAQs (stats.bls.gov/cpi/cpifaq. htm#Question_1) See also Investopedia, “The Consumer Price Index” (www.youtube.com/watch?v=vtx3UAEm3O0) (1:48). (Note: You can link to videos through www.c21student.com) 1. What is the CPI? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 2. What U.S. government agency produces the CPI? _ ______________________________________________________________________________ 3. How often is the CPI produced? _ ______________________________________________________________________________ 4. The CPI represents changes in prices of what? _ ______________________________________________________________________________ 5. Who’s buying habits are tracked in the CPI? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 6. How is the CPI market basket determined? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ The CPI is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The CPI reflects spending patterns for two population groups: all urban consumers and urban wage earners and clerical workes. The CPI market basket is developed from detailed expenditure information provided by 7000 families and individuals on what they actually bought. Bureau of Labor Statistics monthly Consumer goods PRODUCT PREVIEW
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THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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