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    Inflation and consumer price index

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    Go to http://stats.bls.gov/ and look up the inflation data and report the most recent annual inflation rate. Then, within the consumer price index data are the recent inflation rates for various types of purchases (ex: food, fuel, housing, etc.). Pick 3 separate types of purchases and record the unadjusted one year rate for each of them. Which single type of product has the greatest impact on you and how does that product's inflation rate compare to the overall average?

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    Solution Preview

    The unadjusted CPI for the twelve months ending July '06 was 4.1%

    Three components of CPI and their rates of increase:

    Medical care 4.0%

    Education and ...