What is the Consumer Price Index (CPI)?
"The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a representative basket of consumer goods and services" with respect to a given base year with value 100. Source: Bureau of Labor Statistics
What is inflation?
As measured with CPI, it is the percent change in the CPI between two different years, showing the "annual percentage change in the cost to the average consumer of acquiring a basket of goods and services". Source: Federal Reserve Bank of St. Louis
CPI Inflation Formula: CPIx-1-CPIx ⁄CPIx*100
"The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a representative basket of consumer goods and services" with respect to a given base year with value 100. Source: Bureau of Labor Statistics
GASOLINE and DIESEL FUEL PRICES
COST of a COLLEGE EDUCATION, 2010s
In 2010, 50.6% of people aged 18-21 were enrolled in college (U.S. Census) and 29.9% of people aged 25 years or older had completed 4 years (U.S. Census, Table A-2).
TIP: Back issues of the Consumer Reports magazine do list retail price for selected items. Some public and college libraries maintain historical sets, and some may offer digital access through a subscription database. Check with your local library for details.
In the United States...
Marie Concannon, Government Information Librarian
Government Documents Department, Ellis Library
University of Missouri, Columbia
Email: concannonm@missouri.edu
Phone (573) 882-0748