 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
BLS Changes how they report the Consumer Price Index (CPI).
Other Inflation Data:
CPI-U Index
Inflation
Other Articles on InflationData.com
See the Complete Article Archives at Fintrend.com
Bureau of Labor Statistics changes CPI
|
||||
|
Updated- February 22, 2007 by Tim McMahon The Bureau of Labor Statistics (BLS) made changes of historical proportions this month by changing how the Consumer Price Index is reported. For the first time in history the BLS has begun reporting the Consumer Price Index to three decimal points. Their official statement is as follows: "Effective with this release, index levels are now published to three decimal places. Percent changes based on these three-decimal place indexes will continue to be published to one decimal place. "So for January 2007 the CPI-U index is now 202.416 rather than 202.4 but their official inflation rate is still 2.1% rather than the 2.08% that we calculate it out to. While I applaud the higher level of accuracy on the index, I wonder why they decided to change it? Could it be that the index is now over 200 (indicating 100% inflation since 1982) and they feel the need for a bit more accuracy? The interesting thing is that we have been using that index to calculate the inflation rate to two decimals for years but the BLS has decided not to switch their inflation calculation to two decimals but to switch the index to three decimals. Or perhaps they have heard complaints like: InflationData.com is publishing to two decimal places so why can't they? Perhaps, next year after having three digits on the index for a year they will go to two or three digits on the Inflation Rate, in order to keep up with us. In the mean time the only place to get two digit inflation rates is at InflationData.com. Tim McMahon is the editor of Financial Trend Forecaster in addition to the editor of InflationData.com "The Place in Cyberspace for inflation data" and the editor of Your Family Finances. He has also written a book on Geographic Tongue and other tongue problems call Healthy Tongue Secrets.
Subscribe to our FREE monthly E-Zine and we will notify you when this chart has been updated! Webmasters if you would like to use any of our charts please check our usage policy. Has this Chart been helpful? We appreciate your feedback.
Can't find what you are looking for?
|
|
|||
|
||||
