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Essay / Research Paper Abstract
This 3-page paper examines the consumer price index, and its impact on a personal budget as it pertains to clothing, food and gasoline. Bibliography lists 1 source.
Page Count:
3 pages (~225 words per page)
File: D0_MTcpistude.rtf
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Unformatted sample text from the term paper:
price paid by households for various products. If the CPI is on the rise, most people feel it in various products they acquire.
In general, during the past year or so, there has been price increases in many areas. According to the Bureau of Labor Statistics (LBS), the CPI has taken
a huge jump - during August 2007, it stood at 207.92. A year later, it was at 219. For example, gas
prices have increased at a rate of 22.1% so far in 2008 (BLS, 2008). This comes on the heels of a 29.6% increase in 2007 (BLS, 2008).
From a personal perspective, it means it costs more to fill up a gas tank today than it did in early 2008 - and even
more than it did at the beginning of 2007. From a more personal perspective, it means certain decisions need to be made - either cut something else out of the
budget or ride a bike or walk more. Lets look at something not quite as obvious - clothing. Clothing is one of
those things that people need, but its not something that is a constant "must buy" scenario. But theres been an increase in the apparel index as well. The BLS points
out that the apparel index is 1.7% higher in August 2008 than it was in August 2007 - and that the index rose .5% in August, following a 1.2% increase
in July 2008. Interestingly enough, the index for womens apparel took the largest hike - increasing 2% in August 2008 over July 2008, while the index for mens and boys
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