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Economy

Economic Data (USA)

Friday, June 15, 2007

Consumer Price Index (CPI) for May, 2007

Earlier this morning, the Labor Department's Bureau of Labor Statistics released the Consumer Price Index (CPI) for May, 2007:

Predicted: +0.6%
Actual: +0.7%

Below is the CPI when food and energy are subtracted from the equation, also known as the "core CPI":

Predicted: +0.2%
Actual: +0.1%

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

The above numbers represent the seasonally-adjusted, month-to-month change in prices for a specific group of goods and services that consumers buy, and is, therefore, a very important part of the overall inflation picture for the country.

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The CPI for May, 2007: 207.949 (not seasonally-adjusted.)

Change from May, 2006: +2.7%

The baseline 100 score is pegged to 1982-1984 data. In other words, consumer prices have more than doubled since the early 80's.

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General categories that constitute the CPI are:

  • Healthcare
  • Housing
  • Clothing
  • Communications
  • Education
  • Transportation
  • Food & Beverages
  • Recreation
  • Miscellaneous Goods & Services (grooming expenses, etc.)

Click here to view the full Labor Department report
.

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