Measuring the Cost of Living

The Consumer Price Index

The Consumer Price Index

How the Consumer Price Index Is Calculated

How the Consumer Price Index Is Calculated

How the Consumer Price Index Is Calculated

How the Consumer Price Index Is Calculated

How the Consumer Price Index Is Calculated

The Inflation Rate

GDP Deflator

Other Price Indexes

What’s in the CPI’s Basket?

Problems in Measuring The Cost of Living

Problems in Measuring The Cost of Living

Substitution Bias

Introduction of New Goods

Unmeasured Quality Changes

Unmeasured Quality Changes

Problems in Measuring the Cost of Living

The GDP Deflator versus the Consumer Price Index

The GDP Deflator versus the Consumer Price Index

The GDP Deflator versus the Consumer Price Index

PPT Slide

Dollar Figures from Different Times

Dollar Figures from Different Times

Dollar Figures from Different Times

The Most Popular Movies of All Time, Inflation Adjusted

Indexation

Real and Nominal Interest Rates

Real and Nominal Interest Rates

Real and Nominal Interest Rates

PPT Slide

Summary

Summary

Summary

Summary