Let's look at multiple statistics which are used to measure inflation: (a) Why, in the opinion of
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Question:
Let's look at multiple statistics which are used to measure inflation:
(a) Why, in the opinion of many economists, does the US government
measure both a GDP deflator and a CPI? Historically and empirically, how have the two been related since the early 1970's?
(b) In addition to the CPI, the government also measures a Producer
Price Index. Which of the two (CPI or PPI) has shown the highest
increase in price levels in the US since the early 1970's?
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