Our CPI measure of the inflation rate has been debated because it could be calculated using a chained CPU, could be real time, and excludes some seniors.
This year, the increase in the PNC Christmas Price Index far exceeded the CPI. I do wonder, though, whether the CPI is really more accurate. Whereas the BLS (Bureau of Labor Statistics) Consumer Price Index includes food, medical care and…
Our story starts with Ida Mae Fuller. At 65, in 1940, Ms. Fuller got the first US monthly Social Security retirement check for $22.54. In 1941, she got $22.54 each month. In 1942, 1943, and 1944 she still got her…
The Dow Jones Average closed at an historic high yesterday…maybe. Yes, 14,253.77 was higher than ever. However, if we remember inflation, then the most recent Dow high was during 2000. Let’s start with the numbers we are used to hearing.…
How to measure inflation? The Christmas Price Index. Whereas the BLS (Bureau of Labor Statistics) Consumer Price Index includes food and medical care and cars, PNC Wealth Management’s CPI, its Christmas Price Index, has swans and hens and dancing maids.…
Inflation is not only at the cash register. Our story starts at H&M where an Esquire journalist tried on a size 36 pants that were too tight. He continued his search for pants with the 36″ waist label at Old…
You might want to check the CPI (the Christmas Price Index). Calculated by PNC for the last 28 years, it tells us the value of the items in “The 12 Days of Christmas.” This year, the PNC CPI totaled $24,263.18…
The bald eagle is our national bird but, according to Ben Franklin, the turkey should have been. In a letter to his daughter, he explains why. “True original natives,” turkeys are American birds. “…Though a little vain and silly, [the…
econlife®
Connecting economics with everyday life.
Located at the intersection of current events, history, and economics, econlife® slices away all of the layers that make economics boring and complex. We like economics and we would like for you to like it too.
