Wednesday, January 16, 2008

Inflation Rates for 2007

Driven by higher food and energy prices, the Consumer Price Index for all Urban Consumers (CPI-U) was 4.1 percent higher for the 12-month period ending in December 2007 than for that same time period in December 2006, when the CPI-U rose 2.5 percent. Excluding food and energy, the CPI-U rose 2.4 percent for all of 2007. This is a slight deceleration from the 2006 rate of 2.6. Read the BLS news release for more information and to compare data by item and year. The Consumer Price Indexes (CPI) program from the Bureau of Labor Statistics (BLS) produces monthly data on changes in the prices paid by urban consumers for a representative basket of goods and services.

You might also want to check out the CPI Inflation Calculator to see how far your money goes today compared to yesteryear (1913-present).

Read "Inflation Rate Spikes in 2007" from the Washington Post.

Want more information? Check out the library's guides on Income & Poverty, Labor & Employment, and Labor Statistics.

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