- ANNUAL CONSUMER PRICE INDEX FIGURE RELEASED -

Late last week the Bureau of Labor Statistics released the December Consumer Price Index (CPI) figures, which provided an opportunity to calculate an annual average CPI.  The index is a measure of the average change in prices over time in a market basket of goods and services.  It is a good indicator of consumer inflation rates and in terms of salary adjustments it is often referred to as the cost of living increase.  The CPI-U represents all urban consumers while the CPI-W corresponds to specifically urban wage earners and clerical workers.

Reasons for the smaller increase in 2001 than 2000 is due primarily to several low months in last two quarters of this past year.  The lows in these months have been driven by decreases in the energy index, primarily in the petroleum-based energy section.

For more information on cost of living visit:
· www.business4springfield.com/demographics/cpi.htm ·