THE CPI CONTROVERSY

Article Abstract:

ECONOMISTS AGREE THAT THE CONSUMER PRICE INDEX (CPI) OVERSTATES INFLATION AND FUELS RISING COSTS BECAUSE INCOME INCREASES ARE BASED ON IT. THE CARTER ADMINISTRATION, CONGRESS, AND ECONOMISTS ARE REVIEWING THE ISSUE NOW, WITH SUGGESTIONS TO REVISE THE CPI, USE THE PERSONAL CONSUMPTION EXPENDITURES IN ITS PLACE, OR TO STOP INDEXING SOCIAL SECURITY PAYMENTS AND FEDERAL PENSIONS TO IT. STIFF RESISTANCE TO CHANGE IS FOUND, HOWEVER, AS 7.7 MILLION INDUSTRIAL WORKERS RECEIVE WAGE ESCALATION, BASED ON CPI.

Cost and standard of living, Cost of living

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HOW MUCH WILL THE RECESSION CUT PRICES?

Article Abstract:

THE RECESSION MAY CUT PRICES, BUT THE UNDERLYING INFLATION RATE WILL STILL BE CLOSE TO DOUBLE DIGITS. THE MAIN PROBLEM IS THAT THE UNDERLYING RATE OF INFLATION THAT IS BUILT INTO THE ECONOMY IS SEEMINGLY IMPERVIOUS TO DECLINES IN DEMAND.

Depressions, Economic depressions

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