CAR PRICES
GASOLINE and DIESEL FUEL PRICES
Tip: The Consumer Reports magazine lists retail prices for many items. Check with your local library for back issues, or ask about digital access.
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
Marie Concannon, Government Information Librarian
Government Documents Department, Ellis Library
University of Missouri, Columbia
Email: concannonm@missouri.edu
Phone (573) 882-0748