Me, neither. But NBC News did.
They created this short and entertaining animation about the Consumer Price Index, or CPI. The writers at the Bureau of Labor Statistics define the CPI this way: “The Consumer Price Indexes (CPI) program produces monthly data on changes in the prices paid by urban consumers for a representative basket of goods and services.”
NBCNews.com | December 16, 2013
Every month the government issues its measure of consumer inflation, and every month slews of Americans scratch their heads in puzzlement. For a better understanding of this important, but complicated, economic indicator, watch this animation, reported with CNBC’s Allison Linn.
Do you think you understand the CPI now?