The decline in the value of the U.S. dollar corresponds to price inflation, which is a rise in the general level of prices of goods and services in an economy over a period of time. A consumer price index (CPI) is a measure estimating the average price of consumer goods and services purchased by households. The United States Consumer Price Index, published by the Bureau of Labor Statistics, is a measure estimating the average price of consumer goods and services in the United States. It reflects inflation as experienced by consumers in their day-to-day living expenses. A graph showing the U.S. CPI relative to 1982–1984 and the annual year-over-year change in CPI is shown at right. COUNT 5
QSN1 What does the decline in value of the dollar correspond to? ANS1 price inflation QSN2 The rise in level of prices in an economy is referred to as what? ANS2 price inflation QSN3 What does CPI stand for? ANS3 consumer price index QSN4 Who publishes the Consumer Price Index? ANS4 Bureau of Labor Statistics QSN5 What does the CPI estimate? ANS5 average price of consumer goods and services in the United States