Virgil
05-05-2008, 06:27 AM
This is an article from the NYT that conveys the components used in the the inflation number we are always quoted using a neat interactive map- http://www.nytimes.com/interactive/2008/05/03/business/20080403_SPENDING_GRAPHIC.html
=========================
May 3, 2008
All of Inflation’s Little Parts
Each month, the Bureau of Labor Statistics gathers 84,000 prices in about 200 categories — like gasoline, bananas, dresses and garbage collection — to form the Consumer Price Index, one measure of inflation.
It’s among the statistics that the Federal Reserve considered when it cut interest rates on Wednesday. The categories are weighted according to an estimate of what the average American spends, as shown below.
An Average Consumer's Spending
<snipped>
=========================
May 3, 2008
All of Inflation’s Little Parts
Each month, the Bureau of Labor Statistics gathers 84,000 prices in about 200 categories — like gasoline, bananas, dresses and garbage collection — to form the Consumer Price Index, one measure of inflation.
It’s among the statistics that the Federal Reserve considered when it cut interest rates on Wednesday. The categories are weighted according to an estimate of what the average American spends, as shown below.
An Average Consumer's Spending
<snipped>