P
PACE, FL: UTU Local 1312
PACIFIC GROVE, CA: NALC Local 1184
PACIFIC GROVE, CA: UWUA Local 511
PACIFICA, CA: AFGE Local 3172
PADUCAH, KY: AFGE Local 3228
PADUCAH, KY: APWU Local 2500
PADUCAH, KY: CWA Local 3315
PADUCAH, KY: IAM Local 123
PADUCAH, KY: IAM Local 19
PADUCAH, KY: IBEW Local 816
PADUCAH, KY: IBT Local 236
PADUCAH, KY: IUPAT Local 500
PADUCAH, KY: IW Local 782
PADUCAH, KY: LIUNA Local 1214
PADUCAH, KY: NALC Local 383
PADUCAH, KY: OPEIU Local 172
PADUCAH, KY: PACE Local 669
PADUCAH, KY: UA Local 184
PADUCAH, KY: UBC Local 357
PAGE, AZ: IBB Local 4
PAGOSA SPRINGS, CO: APWU Local 7153
PAGOSA SPRINGS, CO: CWA Local 7716
PAHRUMP, NV: APWU Local 7156
PAINESVILLE, OH: AFGE Local 3448
PAINESVILLE, OH: NALC Local 549
PAINESVILLE, OH: USW Local 12833
PAINESVILLE, OH: USW Local 14964
PAINTED POST, NY: CWA Local 81313
PALATINE, IL: NALC Local 4268
PALATINE, IL: TCU Local 6266
PALATINE, IL: TWU Local 540
PALATKA, FL: IBEW Local 1583
PALATKA, FL: PACE Local 1717
PALATKA, FL: UWUA Local 551
PALESTINE, TX: APWU Local 2633
PALESTINE, TX: NALC Local 699
PALESTINE, TX: TCU Local 67
PALM BEACH GARDENS, FL: UFCW Local 428
PALM SPRINGS, CA: APWU Local 423
PALM SPRINGS, CA: NALC Local 4149
 

How is the Consumer Price Index (CPI) used?

The Consumer Price Index affects nearly all Americans because of the many ways it is used. Three major uses are:

As an economic indicator: The CPI is the most widely used measure of inflation and is sometimes viewed as an indicator of the effectiveness of government economic policy. It provides information about price changes in the Nation's economy to government, business, labor, and other private citizens, and is used by them as a guide to making economic decisions. In addition, the President, Congress, and the Federal Reserve Board use trends in the CPI to aid in formulating fiscal and monetary policies.

As a deflator of other economic series: The CPI and its components are used to adjust other economic series for price changes and to translate these series into inflation-free dollars. Examples of series adjusted by the CPI include retail sales, hourly and weekly earnings, and components of the national income and product accounts. An interesting example of this is the use of the CPI as a deflator of the value of the consumer's dollar to find its purchasing power. The purchasing power of the consumer's dollar measures the change in the value to the consumer of goods and services that a dollar will buy at different dates. In other words, as prices increase, the purchasing power of the consumer's dollar declines.

As a means of adjusting dollar values: The CPI is often used to adjust consumers' income payments, for example, Social Security; to adjust income eligibility levels for government assistance; and to automatically provide cost-of-living wage adjustments to millions of American workers. The CPI affects the income of about 80 million persons as a result of statutory action: 48.4 million Social Security beneficiaries, about 19.8 million food stamp recipients, and about 4.2 million military and Federal Civil Service retirees and survivors. Changes in the CPI also affect the cost of lunches for 26.5 million children who eat lunch at school, while collective bargaining agreements that tie wages to the CPI cover over 2 million workers. Another example of how dollar values may be adjusted is the use of the CPI to adjust the Federal income tax structure. These adjustments prevent inflation-induced increases in tax rates, an effect called "bracket creep".

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