Consumer Price Index For Urban Wage Earners and Clerical Workers - CPI-W
Nothing is more fun than reading long dictionary entries. Since the name of this term is so long, let’s just get right to it.
The CPI-W is a monthly figure computed by the Department of Labor that measures changes in prices paid by clerical employees, sales employees, craft workers, service workers, and other urban laborers.
The Social Security office uses this metric to adjust annual payments to Social Security beneficiaries. The Bureau of Labor Statistics computes the average change for a basket of different products and services.
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Finance allah shmoop What is the consumer price index or
c p i All right prices They change Five bucks
buys a whole lot less today than it did two
hundred years ago Well here's what Five bucks buys you
today And here's what Five bucks bought you in Seventeen
Ninety three house five horses Nice stuff Well tracking prices
is the key to understanding what inflation is doing in
the world or how much of it we have So
in amalgam of e con experts put together a basket
of goods designed to reflect generally how the average consumer
if there is such a thing feels inflation in their
wallets Will those prices air tracked copiously like monthly ish
and then published as an index number that's evaluated relatively
like if this is last month's cp i which saturday
one hundred seventeen point three two while this month's number
one hundred seventeen point five three shows inflation at a
pace of about two and a half percent annually And
blah blah blah blah So what's in that c p
ay basket that's tracked well there's a bus pass in
a major metro a pound of coffee a half gallon
Carton of milk funeral A flu shot movie tickets And
on and on and on basically all the stuff that 00:01:21.408 --> [endTime] makes life priceless What No