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The Consumer Price Index (CPI) is the most widely quoted figure measuring inflation. It reflects the overall rate of price change for a market basket of goods and services bought by households. When inflation rises, it may be more difficult for some consumers to purchase needed goods and services (e.g., food, clothing, and shelter), especially if wages do not keep pace with inflation. Those members of society who live on fixed incomes are more likely to experience economic stress than those who can adapt to the economic instability; and this can accentuate economic distributional issues.
This chart illustrates that inflation, as measured by the CPI, has been low and stable in recent years. Since 1992, the annual increase in prices has been 3% or less. However, there have been a few periods in U.S. history when prices have increased rapidly; the most recent episode was in the late 1970s when prices rose by more than 13%.
Link(s) to be added, when feasible, to data at level of detail suitable
for use at the community level.
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http://www.sdi.gov/indicators/lc_infla.htm Last Modified: May 13, 2002 |