mag - 4th meeting

Undergraduate Economics Association

Macro Analysis Group (Week 4)

By: Jeevan Parameswaran, Spencer Pettiti (VPs of Editorial Content)

Undergraduate Economics Association 5

● Stock Definition:● “Produces monthly data on changes in the prices paid by

urban consumers for a representative basket of goods and services”

● BLS News Release● Can be considered a quasi cost-of-living measure

• 2 population groups:● CPI-U (All Urban Consumers,

87%)● CPI-W (Urban Wage Earners

and Clerical Workers, 32%)● Data is weighted based on

relevance (Consumer Expenditure Survey)

• Usage:● Economic Indicator (policy

efficacy)● Deflator (for adjusting

economic data)● Income / wage bargaining

● 80 Million tied● 27 Million school lunches

Education