TeachMeFinance.com - explain Consumer Price Index (CPI-U)
Consumer Price Index (CPI-U) The term 'Consumer Price Index (CPI-U) ' as it applies to the area of agriculture can be defined as ' The Bureau of Labor Statistics’ general measure of retail prices (for goods and services) paid by urban wage earners and clerical workers. Includes prices of about 400 items, including food, clothing, housing, medical care, and transportation. The CPI-U is commonly used to deflate time series data and is the most widely accepted measure of inflation'.
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