"Economy in Perspective: Consumer Price Index, 1961–2002"

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By: Washington Post

Date: 2003

Source: "Economy in Perspective: Consumer Price Index, 1961–2002." Washington Post. Available online at http://www.washingtonpost.com/wp-srv/flash/business/econ/ec... ; website home page: http://www.washingtonpost.com (accessed September 10, 2003).

Introduction

One of the problems with comparing prices and what wages and salaries will purchase over time is that the relative value of money and prices changes as economic conditions change. As a result, economists and statisticians in the private and public sectors have developed a yardstick measurement called the Consumer Price Index (CPI) that allows for adjustment of money, prices, and income over time based on statistical formulas. The U.S....

[The entire page is 790 words long]

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