PPT-CPI and the Shortcomings of GDP

The Consumer Price Index The main measure of inflation used by Canada This measure is used by the government to report inflation rates and make according changes in programs such as CPP and OAS . Outline. The Consumer Price Index (CPI). What is inflation?. The CPI and the Inflation Rate. Adjusting the money (nominal) wage for inflation using the CPI. The Costs of Inflation. Is the CPI accurate?. compare dollar figures from different points in time.. Need Price Levels (CPI) for two different points in time . Inflate . Babe Ruth’s 1931 . salary . into . 1999 dollars. . . .  . Value . in Year 1 . Mountain. Director. Quo . vadis. CPI-X and . independent regulation . of electricity networks in Australia. Economic Society of Australia. “Policy . in the . Pub”. . 18 March 2015. Outline. 2. R. Presentation to the. Council of Professional Associations. on Federal Statistics . (COPAFS). December 3, 2010. Mike Horrigan. Associate Commissioner. Office of Prices and Living Conditions. 1. 2. Outline. Expectations. . Trough. Derivative . Instruments. Stefano Caprioli. 1° . Lesson. Inflation. . Derivatives. 1. Summary. . Lesson. 1:. - . Overview. . Inflation. . Derivatives. - . Black. . Normal. CPI is the government’s “most important” statistic. Announced monthly by Bureau of Labor Statistics. Measures changes in prices of goods and services over time. Affects elections, economy, government policies, Social Security, pensions. The study of the economics of countries.. The big picture. The Business Cycle. Upturn/Recovery. Business Cycle. Recession = when Real GDP decreases for a period of 6 months or more. Bad. Depression = when Real GDP has a steep decrease or last for a long time. Principal Investigator . Survey. Update and Summary.  . Lori L. Taylor. Bush School of Government. The CPI Principal Investigator Survey. Email survey of all PIs at Texas A&M, . AgriLife. Research, HSC, TEES and TTI . Section . 202. Özlem. . Elgün. Inflation. On class website , under topic 7, click on . Detailed CPI tutorial. . Scroll down to An introduction to Inflation . Inflation is a decline in the value of money in relation to the goods that it can buy and is a pervasive economic phenomenon. It is so pervasive that it is very difficult to compare this year’s prices to last year’s, much less compare prices over decades. Here is a graph of the buying power of $1.00 since 1938: . Inflation. June . 19, 2018. James Stock, Harvard Economics. Mark Watson, Princeton . University. 2018 ECB Forum on Central Banking. Sintra, . Portugal. 1. Where is the cyclical pressure on inflation. Inflation. What is Inflation?. Inflation is rising general level of prices. Inflation reduces the “purchasing power” of money. Examples: . It takes $2 to buy what $1 bought in 1982. It takes $6 to buy what $1 bought in 1961. GDP – . A Measure of Output. GDP – A Measure of Output. Gross Domestic Product . (GDP): . The market value of final goods and services produced within a country during a specific time period, usually a year. . Agenda: Thursday, April 16, 2020, 12:30-1:50, Zoom. Attendance. Approval of the Agenda. Approval of the Minutes from previous meeting, February 27, 2020. Covid-19 and its impact on the CPI process for the academic year 2020. Group of Experts on Consumer Price Indices. Brian Graf, Senior Economist. Real Sector Division. Outline. Why update the Manual?. Background. Key milestones and progress. Key changes. Going Forward. Why update the Manual?.