Visiit the Bureau of labor statistics website www.bls.gov/news.release/cpi.toc.htm. You will be using Consumer Price Index Summary II and the Table 1 Consumer Price Index for all Urban Consumer (CPI-U): U.S. city average by expenditure category.

 

Please note that using the data from previously published releases and summaries will produce a grade zero for this part of the project

1. What month and year is summarize? What is the level of the CPIC for that month?( see table 1- Consumer Price Index for all Urban Consumersll). What does this number represent?

2. What is the rate of inflation (% change in the CPIU) for the last available Month? How does that rate of inflation compare with the rate in previous month?

3. What is the rate of inflation (% change in the CPIU) for the last 12 months for all items?

4. Which two categories of goods and services had the greatest price increase for the last 12 month? Which two categories of goods and services had the lowest price increase for the last 12 months?

5. Which two categories of goods and Services had the largest price decrease for the last 12 months?

6. Who loses from inflation?

7. Who benefits from inflation

8. Analyze and discuss the sig of the data you received from the data exercise