They are changing the CPI Data Report...
Here is what the changes are to the CPI report and why it matters...
Changes to new vehicles methodology (posted January 4, 2023) With the release of January 2023 in February, the CPI for new vehicles will introduce a methodology improvement to the time series filter that estimates the most recent cyclical trend and short term fluctuations. The new vehicles factsheet will also be updated at that time. February 2023 CPI DATA REPORT WEIGHT UPDATE. Why did the stock market not skyrocket if CPI Data report was as expected? Here is a clear answer!
Still don't know what the CPI data report is? Don't know how it's calculated?
CPI stands for Consumer Price Index. It is a measure of the average change in prices of goods and services consumed by households over time. CPI is widely used as an economic indicator to measure inflation, which is the rate at which the general level of prices for goods and services is rising.
CPI is calculated by measuring the price changes of a basket of goods and services that represent the typical spending patterns of a specific population. The basket typically includes items such as food, housing, transportation, medical care, and entertainment. The prices of these items are collected regularly by government agencies and statistical offices from a variety of sources, including retail stores, service providers, and online sellers.
Once the prices are collected, they are compared to the prices of the same items in a previous period, typically a year ago. The percentage change in prices is then calculated and weighted according to the relative importance of each item in the basket. The weights are based on the percentage of household spending allocated to each item.
The resulting CPI number reflects the percentage change in prices of the basket of goods and services over time. For example, if the CPI for a particular year is 2%, it means that, on average, the prices of the goods and services in the basket increased by 2% compared to the previous year.
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