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Consumer Price Index
A consumer price index (CPI) is a statistical estimate of the level of prices of goods and services bought for consumption purposes by households. It is calculated as the weighted average price of a market basket of Goods, consumer goods and Service (economics), services. Changes in CPI track changes in prices over time. The items in the basket are updated periodically to reflect changes in consumer spending habits. The prices of the goods and services in the basket are collected (often monthly) from a sample of retail and service establishments. The prices are then adjusted for changes in quality or features. Changes in the CPI can be used to track inflation over time and to compare inflation rates between different countries. While the CPI is not a perfect measure of inflation or the cost of living, it is a useful tool for tracking these economic indicators. It is one of several Price index, price indices calculated by many national statistical agencies. Overview A CPI is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
M2, CPI, PCE
M, or m, is the thirteenth Letter (alphabet), letter of the Latin alphabet, used in the English alphabet, modern English alphabet, the alphabets of several Languages of Europe, western European languages and others worldwide. Its name in English is English alphabet#Letter names, ''em'' (pronounced ), plural ''ems''. History The letter M is derived from the Phoenician alphabet, Phoenician Mem via the Greek alphabet, Greek Mu (letter), Mu (Μ, μ). Semitic alphabets, Semitic Mem is most likely derived from a "Proto-Sinaitic script, Proto-Sinaitic" (Bronze Age) adoption of the N-water ripple (n hieroglyph), "water" ideogram in Egyptian hieroglyphs, Egyptian writing. The Egyptian sign had the acrophonic value , from the Egyptian word for "water", ''nt''; the adoption as the Semitic letter for was presumably also on acrophonic grounds, from the Semitic languages, Semitic word for "water", '':wikt:Reconstruction:Proto-Semitic/maʾ-, *mā(y)-''. Use in writing systems En ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Laspeyres Index
A price index (''plural'': "price indices" or "price indexes") is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a specific region over a defined time period. It is a statistic designed to measure how these price relatives, as a whole, differ between time periods or geographical locations, often expressed relative to a base period set at 100. Price indices serve multiple purposes. Broad indices, like the Consumer price index, reflect the economy’s general price level or cost of living, while narrower ones, such as the Producer price index, assist producers with pricing and business planning. They can also guide investment decisions by tracking price trends. Types of price indices Some widely recognized price indices include: * Consumer price index – Measures retail price changes for consumer goods and services. * Producer price index – Tracks wholesale price changes for producers. * Wholesale pri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Opportunity Cost
In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. Assuming the best choice is made, it is the "cost" incurred by not enjoying the ''benefit'' that would have been had if the second best available choice had been taken instead. The '' New Oxford American Dictionary'' defines it as "the loss of potential gain from other alternatives when one alternative is chosen". As a representation of the relationship between scarcity and choice, the objective of opportunity cost is to ensure efficient use of scarce resources. It incorporates all associated costs of a decision, both explicit and implicit. Thus, opportunity costs are not restricted to monetary or financial costs: the real cost of output forgone, lost time, pleasure, or any other benefit that provides utility should also be considered an opportunity cost. Types Expl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Imputed Rent
Imputed rent is the rental price an individual would pay for an asset they own. The concept applies to any capital good, but it is most commonly used in housing markets to measure the rent homeowners would pay for a housing unit equivalent to the one they own. Imputing housing rent is necessary to measure economic activity in national accounts. Because asset owners do not pay rent, owners' imputed rent must be measured indirectly. Imputed housing rent is the economic theory of imputation applied to real estate: that the value is more a matter of what the buyer is willing to pay than the cost the seller incurs to create it. In this case, market rents are used to estimate the value to the property owner. Thus, imputed rent offers a way to compare homeowners' and tenants' economic decisions. More formally, in owner-occupancy, the landlord– tenant relationship is short-circuited. Consider a model: two people, A and B, each of whom owns property. If A lives in B's property, and B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Accounts
National accounts or national account systems (NAS) are the implementation of complete and consistent accounting Scientific technique, techniques for measuring the economic activity of a nation. These include detailed underlying measures that rely on double-entry accounting. By design, such accounting makes the totals on both sides of an account equal even though they each measure different characteristics, for example production and the income from it. As a methodology, method, the subject is termed national accounting or, more generally, social accounting.Nancy D. Ruggles, 1987. "social accounting," ''The New Palgrave: A Dictionary of Economics'', v. 4, pp. 377–82. Stated otherwise, national accounts as ''systems'' may be distinguished from the economic data associated with those systems. While sharing many common principles with business accounting, national accounts are based on economic concepts. One conceptual construct for representing flows of all economic transacti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Index
A price index (''plural'': "price indices" or "price indexes") is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a specific region over a defined time period. It is a statistic designed to measure how these price relatives, as a whole, differ between time periods or geographical locations, often expressed relative to a base period set at 100. Price indices serve multiple purposes. Broad indices, like the Consumer price index, reflect the economy’s general price level or cost of living, while narrower ones, such as the Producer price index, assist producers with pricing and business planning. They can also guide investment decisions by tracking price trends. Types of price indices Some widely recognized price indices include: * Consumer price index – Measures retail price changes for consumer goods and services. * Producer price index – Tracks wholesale price changes for producers. * Wholesal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
How Is The Consumer Prices Index (CPI) Calculated?
How may refer to: * How (greeting), a word used in some misrepresentations of Native American/First Nations speech * How, an interrogative word in English grammar Art and entertainment Literature * ''How'' (book), a 2007 book by Dov Seidman * ''HOW'' (magazine), a magazine for graphic designers * H.O.W. Journal, an American art and literary journal Music * ''How?'' (EP), by BoyNextDoor, 2024 * "How?" (song), by John Lennon, 1971 * "How", a song by Clairo from '' Diary 001'', 2018 * "How", a song by the Cranberries from ''Everybody Else Is Doing It, So Why Can't We?'', 1993 * "How", a song by Daughter from '' Not to Disappear'', 2016 * "How", a song by Lil Baby from '' My Turn'', 2020 * "How", a song by Maroon 5 from '' Hands All Over'', 2010 * "How", a song by Regina Spektor from '' What We Saw from the Cheap Seats'', 2012 * "How", a song by Robyn from ''Robyn Is Here'', 1995 Other media * HOW (graffiti artist), Raoul Perre, New York graffiti muralist * ''How'' (TV ser ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Lowe (economist)
Joseph Lowe (died 1831) was a Scottish journalist and political economist, well known for his pioneer treatment of indexation. Maurice Kendall called him the generally recognised "father of index numbers". In the debate on the Corn Laws in 1839, Sir Robert Peel cited the views of Lowe and Thomas Tooke, to argue against imposing a low fixed rate of import duty on corn. Life From Brechin, Lowe attended the University of St Andrews and University of Edinburgh. He then went into business, spending time in the Netherlands from 1792, and then London. Lowe spent a period at Caen in France, from June 1814. From September 1815 he was tutor there to Edward Deas Thomson and his elder brother; Thomson later kept in touch and discussed technology with Lowe. He also employed Nathaniel Morren and others as writers. James Mill was a friend of Lowe from school days, and his son John Stuart Mill visited Lowe in France for some weeks in 1821. Lowe was appointed lecturer in Commerce at K ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau Of Labor Statistics
The Bureau of Labor Statistics (BLS) is a unit of the United States Department of Labor. It is the principal fact-finding agency for the government of the United States, U.S. government in the broad field of labor economics, labor economics and statistics and serves as a principal agency of the Federal Statistical System of the United States, U.S. Federal Statistical System. The BLS collects, processes, analyzes, and disseminates essential statistical data to the American public, the United States Congress, U.S. Congress, other Federal agencies, State and local governments, business, and labor representatives. The BLS also serves as a statistical resource to the United States Department of Labor, and conducts research measuring the income levels families need to maintain a satisfactory quality of life. BLS data must satisfy a number of criteria, including relevance to current social and economic issues, timeliness in reflecting today's rapidly changing economic conditions, accur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organisation For Economic Co-operation And Development
The Organisation for Economic Co-operation and Development (OECD; , OCDE) is an international organization, intergovernmental organization with 38 member countries, founded in 1961 to stimulate economic progress and international trade, world trade. It is a forum (legal), forum whose member countries describe themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices, and coordinate domestic and international policies of its members. The majority of OECD members are generally regarded as developed country, developed countries, with High-income economy, high-income economies, and a very high Human Development Index. their collective population is 1.38 billion people with an average life expectancy of 80 years and a median age of 40, against a global average of 30. , OECD Member countries collectively comprised 62.2% of list of countries by GDP (nominal), global nom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Time Series
In mathematics, a time series is a series of data points indexed (or listed or graphed) in time order. Most commonly, a time series is a sequence taken at successive equally spaced points in time. Thus it is a sequence of discrete-time data. Examples of time series are heights of ocean tides, counts of sunspots, and the daily closing value of the Dow Jones Industrial Average. A time series is very frequently plotted via a run chart (which is a temporal line chart). Time series are used in statistics, signal processing, pattern recognition, econometrics, mathematical finance, weather forecasting, earthquake prediction, electroencephalography, control engineering, astronomy, communications engineering, and largely in any domain of applied science and engineering which involves temporal measurements. Time series ''analysis'' comprises methods for analyzing time series data in order to extract meaningful statistics and other characteristics of the data. Time series ''f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
