Consumer Price Index

Discover how to use the Consumer Price Index to make your company's economic decisions
By Michele Vrouvas The Consumer Price Index in the United States tracks how prices for goods and services change over time. The goods and services the Index measures range from food and beverage prices to medical care and transportation costs. The United States Bureau of Labor Statistics gathers the data to calculate the Consumer Price Index directly from contacting retailers and service providers around the country. The Bureau estimates that it records the prices for 80,000 items per month.

There are varied uses for the Consumer Price Index. Politicians regard it as a key economic indicator, which can measure the rate of inflation. They believe it reveals the impact of government policy on the economy. Economists use the Index to assess the dollar’s buying power. Find out more about this useful economic measure from varied online sources.

1. Find the official sources for the Consumer Price Index.

2. Get expert Consumer Price Index advice from professionals.

3. Engage in your own Consumer Price Index training.

Get the most accurate and timely Consumer Price Index information based on your needs

Whether you're a retailer or service provider, you make decisions about your company's operation that require the most accurate data available.
Try:  The U.S. Department of Labor Bureau of Labor Statistics publishes the monthly data for the Consumer Price Index. Contact the Department for hard copies of the Index, statistical data used to compile it or questions about how it is prepared. The State of New York maintains a website providing state economic data, including the Consumer Price Index, as all other states do. Contact the state office’s data center for copies of these specific economic reports.

Seek help with Consumer Price Index analysis from an economic consultant

Private investment firms employ experts who can assist you in interpreting the Consumer Price Index so you can make informed business decisions.
Try:  Massachusetts-based ICLUBcentral has provided economics consulting services to business leaders since 1989. The Investor Advisory Group in Charlotte, North Carolina also advises its clients about key economic indicators like the Consumer Price Index since 1987. Contact a Consumer Price Index consultant at either company for help in analyzing the statistical data used to compile the Index.

Start self-training in how to make the best use of the Consumer Price Index

All it takes is some research and practice using online sources to begin using the Consumer Price Index as a valuable business tool.
Try:  The investment advisory giant, Charles Schwab Corporation has published an online guide to key economic indicators presents a thorough analysis of the nature and uses of the Consumer Price Index. Investopedia shows you how to calculate the Index.

• Subscribe to the Bureau of Labor Statistics' email service to receive future Consumer Prices Indexes delivered to you.