Chapter
Understanding the US Inflation Rate
25:24 - 29:54 (04:29)
The US inflation rate ranges between one and a half percent to three and a half percent annually and is calculated by tracking the prices of approximately 80,000 items in a big market basket.
Clips
Inflation rates are important to track on the economy and the Federal Reserve can measure this through a grocery basket that includes 80,000 items.
25:24 - 27:23 (01:58)
Summary
Inflation rates are important to track on the economy and the Federal Reserve can measure this through a grocery basket that includes 80,000 items.
ChapterUnderstanding the US Inflation Rate
EpisodeWhat Causes Inflation?
PodcastStuff You Should Know
This podcast discusses the eight major groups of products categorized by the Bureau of Labor Statistics in the US which are food, housing, apparel, transportation, medical care, recreation, education, and communication, as well as the "other" category that includes miscellaneous items.
27:23 - 27:54 (00:31)
Summary
This podcast discusses the eight major groups of products categorized by the Bureau of Labor Statistics in the US which are food, housing, apparel, transportation, medical care, recreation, education, and communication, as well as the "other" category that includes miscellaneous items.
ChapterUnderstanding the US Inflation Rate
EpisodeWhat Causes Inflation?
PodcastStuff You Should Know
The Bureau of Labor Statistics interviews 24,000 American families on their purchases and has another 12,000 families keeping a spending diary to determine the inflation rate.
27:54 - 28:41 (00:46)
Summary
The Bureau of Labor Statistics interviews 24,000 American families on their purchases and has another 12,000 families keeping a spending diary to determine the inflation rate.
ChapterUnderstanding the US Inflation Rate
EpisodeWhat Causes Inflation?
PodcastStuff You Should Know
The government tracks inflation by using a market basket of 80,000 items which is continually updated by a team of assistants every month.
28:41 - 29:54 (01:12)
Summary
The government tracks inflation by using a market basket of 80,000 items which is continually updated by a team of assistants every month.