Consumer Price Index overstates food-price inflation. (Consumer Price Index for All Urban Consumers)

From: Food Review | Date: September 1, 1995| Author: MacDonald, James M. | Copyright information

The Consumer Price Index (CPI) is the most widely used and most well-known measure of inflation, or general price changes, in the United States. The CPI is a measure of the average change in prices paid by urban consumers for a fixed market basket of goods and services, including food. Annual cost of living adjustments to Social Security benefits, as well as wage changes in many union contracts, are explicitly based on formulas that include changes in the CPI. Annual changes in the C...

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