| |
Economic Data
How to Create Charts and Graphs | Working
with Data | Data Series
How to Create Charts and Graphs
FRED® is
a database of over 800 U.S. economic time series. The current categories
contained in FRED
are:
- Business/Fiscal
- Commercial Banking
- Consumer Price Indexes (CPI)
- Employment and Population
- Exchange Rate, Balance of Payments, and Trade Data
- Gross Domestic Product (GDP) and Components
- Interest Rates
- Monetary Aggregates
- Producer Price Indexes (PPI)
- Regional, including Employment and Banking Data
- Reserves
- U.S. Financial Data
FRED also allows
you to download data in Microsoft Excel and text formats and view
charts of data series. How
to download data from FRED (664kb PDF)
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Working With Data
Why use economic data? | What
to include
Why Use Economic Data in Your Presentation?
To support your policy argument | To
refute your colleague's policy argument
 To
support your policy argument.
Ask yourself the following four questions:
1. What is the current state of the economy? Then look
at:
- measures of inflation
- measures of output, demand and employment
- financial markets
| FOMC Minutes, Dec. 13, 2005
“The information reviewed at this meeting suggested
that the economy continued to expand at a solid rate in
the fourth quarter. Industrial production rebounded, and
employment growth appeared to have recovered smartly from
the depressing effects of recent hurricanes.”
“Core consumer price inflation remained subdued,
even though some of the increase in energy costs had apparently
passed through to prices of final goods and services.”
|
2. What has been the effect of recent policy? Then look:
- at interest-sensitive sectors
- for evidence of bottoming-out or recovery
- for evidence of inflationary pressures
| FOMC Minutes, Dec. 13, 2005
“Market participants widely anticipated the Committee's
decision at its November meeting, and the policy announcement
evoked little reaction in financial markets.”
“Over the intermeeting period, investors marked
up slightly their expectations for the path of monetary
policy in light of stronger-than-expected data on spending
and production.”
|
3. What is the outlook for the economy? Then look at:
- inflation
- output and employment
| FOMC Minutes, Dec. 13, 2005
“The staff forecast prepared for this meeting suggested
that growth of economic activity would slow from this
year's pace, but remain solid, with output staying near
the economy's potential over the next two years.”
“Both overall and core consumer price inflation
were projected to move higher in the first half of next
year, reflecting the effects of higher energy prices,
but then to trend lower as those effects ebb.”
|
4. What can we learn from history?
Similarities between the past and today's:
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To
refute your colleague's policy argument.
You may either counter an argument with a different:
- data series or
- interpretation of the data
What Data Must Be Included in Your Presentation?
Key
points
Before you get started, remember these key points:
- There is no magic list of economic indicators!
- For ideas, look at the recent
FOMC minutes for commonly cited data.
- Be prepared to answer questions regarding any indicator you
mention, as well as any table or graph you show.
- Know what is causing a rise or fall in an indicator.
- Give some thought about how best to present the data to make
your point.
- If you don't understand it, do not present it!
- Make graphs user friendly.
- Do not overwhelm the judges.
- Data should support your point not be the point.
Some
important data series to examine and analyze
Now that we have laid the groundwork, here few of the major economic
indicators you should take a look at:
Inflation
Data
- The most frequently used measures of inflation are the:
- Consumer Price Index (CPI)
- An index number that measures the average change
in the prices of a basket of goods and services bought by a
typical urban household.
- Personal Consumption Expenditures Deflator (PCE Deflator)
- An index number that measures the average change in the
prices of a basket of goods and services Based on basket of
goods and services purchased by the typical consumer (individuals
and non-profits).
- Gross Domestic Product Deflator (GDP Deflator)
- An index that measures the average change in prices of
all goods and services produced by the domestic economy.
- Producer Price Index (PPI)
- An index that measures the average change in the selling
prices received by domestic producers for all finished goods.
Comparison of Inflation Measures
| |
CPI |
PCE
Deflator |
GDP
Deflator |
PPI |
| Frequency |
Monthly |
Monthly |
Quarterly |
Monthly |
| Weights |
Fixed |
Chain |
Chain |
Fixed |
| Core |
Yes |
Yes |
No |
Yes |
| Other |
Most cited |
FOMC's Favorite |
Broadest |
Only Goods |
- The measures of core inflation are:
- CPI excluding food and energy
- PCE price index excluding food and energy—the PCE
price index is favored by the FOMC.
| "While actual CPI inflation has picked up this year,
this rise has not been mirrored uniformly in other broad
price measures. For example, there has been little, if any,
acceleration in the index of core personal consumption expenditure
prices, which we consider to be a more reliable measure
of inflation." Testimony
of Chairman Alan Greenspan before the Committee on Financial
Services, U.S. House of Representatives, July 18, 2001.
|
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Output
Data
GDP
Industrial Production
What is GDP?
GDP is the broadest measure of output of the domestic
economy.
Nominal GDP equals the dollar value of output.
Real GDP is the measure of volume of output.
The data is published quarterly by the Bureau of Economic Analysis.
How do we measure GDP?
| |
What items are contained in
each category
|
Nominal GDP in 2001 (billions)
|
| 1. Personal Consumption Expenditures(C)
+ 2. Gross Private Domestic Investment (I)
+ 3. Government (G)
+ 4. Exports (X)
- 5. Imports (M)
= GDP
|
C = durables,
nondurables and services
I = equipment, structures, changes in inventories
G = defense/nondefense spending
X = foreign purchases of U.S. products
M= U.S. purchases of foreign products |
(C) 6987.0
+ (I) 1586.0
+ (G) 1858.0
+ (X) 1034.2
- (M) 1383.1
GDP=$10,0082.2
|
Here's an example of how you can use GDP in your presentation.
| "During the third quarter, automobile production accounted
for about 1 percentage point of the growth rate of GDP."
(Then insert a chart comparing real GDP against real GDP
less autos over 10-12 quarters.) |
What is Industrial Production?
Industrial productions equals the production of goods.
This indicator is very useful because it is a more timely indicator
of economic growth than GDP.
The data are published monthly by the Federal Reserve Board.
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Demand
Data
Retail Sales
Real Personal Consumption Expenditures
Business Investment(a.k.a. Non-Residential Fixed Investment)—two
components:
Structures
Equipment and software
What is Retail Sales?
Retail sales equals the amount spent on retail products and
food services.
This indicator is very useful because it may indicate changes
in the state of the economy prior to changes in production.
The data are published monthly by the Bureau of the Census.
What is Real Personal Consumption Expenditures (RCPE)?
RCPE equals consumer spending.
This indicator is very useful because it may indicate changes
in the state of the economy prior to changes in production.
The data are published monthly by the Bureau of Economic Analysis.
What is Business Investment (Nonresidential Fixed Investment)?
Business Investment equals the amount of money businesses spend
on structures, equipment and software.
This indicator is very useful because it may indicate potentials
to increase production.
The data are published quarterly by the Bureau of Economic
Analysis.
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Employment
Data
Non-Farm Payroll Employment (a.k.a. the "establishment survey")
Unemployment Rate
What is Non-Farm Payroll Employment (establishment survey)?
Non-Farm Payroll Employment is based on the number of employees
on firms' payrolls. Farms are excluded because of their seasonal
nature, which can skew total employment figures.
The data are published monthly by the Bureau of Labor Statistics.
What is the Unemployment Rate?
| U Rate = |
Employed
Labor Force |
The unemployed are defined as people
who currently do not have a job but are actively looking for
work. |
The Labor Force is defined as the sum
of the employed and the unemployed. |
The Unemployment Rate may:
rise because—someone either loses a job or enters
the workforce and starts looking for a job.
fall because—someone either finds a job or drops
out of the labor force (stops looking actively for work.)
The data are published weekly by the Bureau of Labor Statistics
and is based on the household survey.
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Foreign
Sector Data
Exports of Goods and Services
Growth of exports depends on growth in foreign economies
Monthly
Very volatile, look at overall trends
produced by the Bureau of the Census
Imports of Goods and Services
Growth of imports depends on the strength of the U.S. economy
Monthly
Very volatile, look at overall trends
produced by the Bureau of the Census
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Financial
Markets Data
Yield on Corporate bonds
Yield on Treasury Securities
Treasury Yield curve
also referred to as the term structure of interest rates
yields on Treasury bonds with differing maturities
yield curve typically is upward sloping
Expectations Hypothesis
reflects expected rise in interest rates (inflation)
Liquidity Premium
reflects increased risk of holding long-term securities
inverted yield curve may indicate expected fall in short-term
rates in the future
inverted yield curve may signal a recession
Stock market Indexes
S&P 500, Dow, NYSE and NASDAQ
may indicate overall strength of the corporate sector or irrational
behavior
may precipitate financial crisis
wealth effects
Trade-weighted exchange rate
measures overall strength or weakness of the dollar relative
to a group of currencies
use indexes produces by the Board of Governors
Major currency and Broad currency
nominal and real
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Interest
Rate Sensitive Data
Housing Starts and Sales
Spending on Durable Goods
Motor Vehicle Sales
Bank Lending
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Inflationary
Pressures Data
Monetary Aggregates
May indicate future inflation
inflation is always and everywhere a monetary phenomenon
May indicate weakening economic conditions
Weekly
Produced by the Federal Reserve Board
Monetary Base
M1
Components
+ Currency in circulation outside Federal Reserve Banks, the
U.S. Treasury and the vaults of depository institutions
+ travelers checks
+ demand and other checkable deposits issued by financial institutions,
except demand deposits due to the Treasury and depository institutions.
- cash items in process of collection and Federal Reserve float
M2
Components
+ M1
+ savings deposits, including money market deposit accounts
+ small denomination time deposits (<$100,000) issued by
financial institutions
+ shares in retail money market mutual funds (initial investment
<$50,000) net of retirement accounts
M3
Components
+ M2
+ large denomination time deposits (>$100,000) issued by
financial institutions
+ repurchase agreements issued by depository institutions
+ Euro dollar deposits held by U.S. nonbank residents at foreign
branches of U.S. banks worldwide and at all banking offices
in the United Kingdom and Canada.
+ institutional money market mutual funds (initial investment
>$50,000)
Employment Cost Index
total compensation (includes wages/salaries and benefits)
may indicate cost pressures (link to NAIRU)
may reflect productivity
quarterly
Produced by Bureau of Labor Statistics
Hourly Earnings
earnings of workers in private non-farm sector
monthly, from the establishment survey
Produced by Bureau of Labor Statistics
University of Michigan Survey Research Center
Federal Reserve Bank of Philadelphia
Survey of Professional Forecasters inflation expectations
inflation expectations over each of the next 4 quarters
long-term inflation forecast (10-year average)
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Economic
Growth Data
Productivity
Output per hour of all persons
May indicate changes in growth rate of potential output and
NAIRU
May be used in conjunction with employment cost measures to
assess inflationary pressures
Quarterly
Produced by Bureau of Labor Statistics
Inventories
Inventory buildup may reflect slowdown in demand
Inventory down-sizing generally occurs in recessions
Change in private inventories
quarterly, part of GDP data
Produced by Bureau of Economic Analysis
Inventories and Inventory/Sales Ratios
Total monthly, nominal dollars
—monthly, nominal dollars
—Bureau of the Census
Manufacturing and Trade
—total and by industry
—monthly, real dollars
—Bureau of Economic Analysis
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Federal
Funds Rate Data (FOMC Policy)
Market Expectations of FOMC Policy: Federal Funds Futures Contracts
The table below shows the closing prices for four federal funds
rate futures contracts, as of Jan. 18, 2006—two weeks
prior to the FOMC meeting of Jan. 31. The average expected funds
rate for the month of the contract can be found by simply subtracting
the closing price from 100. These expectations show, for instance,
that the expected funds rate in February was 4.49 percent, while
the expectation for April (following the scheduled FOMC meeting
of March 28) stood at 4.635 percent.
| Fed
Funds Contracts Traded on Jan. 18, 2006
|
Date |
Closing price |
Expected fed funds rate |
Probability of 25 basis
point rise |
Probability of 50 basis
point rise |
| February
March
April
May |
95.510
95.480
95.365
95.330
|
4.490%
4.520%
4.635%
4.670%
|
|
|
These expectations can also be expressed in terms of probabilities.
Assuming that all funds rate changes will be in increments of
25 basis points, probabilities can be found as:
Probability of 25 basis point rise = (expected rate - current
rate)/0.25
Probability of 50 basis point rise = (expected rate - current
rate)/0.50
Expectations as of Jan. 18, therefore, suggested a 96 percent
probability that the funds rate would increase from 4.25 percent
to 4.50 percent for the month of February. For April, we can
see that the probability of a 50 basis point increase (to 4.75
percent) at the March 28 meeting was approximately 77 percent.
The second table shows federal funds futures prices on the
day after the FOMC meeting of Jan. 31, 2006. Continuing to compare
expectations to the 4.25 percent funds rate target prior to
the meeting, we can see that the probability of a 4.5 percent
rate for February had risen to 100 percent. The expectation
for April (4.715 percent ) suggests a 93 percent probability
that the FOMC will raise the federal funds rate target again
at its meeting on March 28.
| Fed
Funds Contracts Traded on Feb. 1, 2006
|
Date |
Closing price |
Expected fed funds rate |
Probability of 25 basis
point rise |
Probability of 50 basis
point rise |
| February
March
April
May |
95.500
95.460
95.285
95.205
|
4.500%
4.540%
4.715%
4.795%
|
|
|
Web sites for Data
Federal Reserve
Economic Data II (FRED®)
best source of data on the U.S. Economy
files can easily be downloaded into a spreadsheet for creating
graphs
some charts are available
FreeLunch.com
the short
run
Board of Governors of
the Federal Reserve System
Bureau of the Census
Bureau of Economic Analysis
Bureau of Labor Statistics
Economic Calendar
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Data Series
Foreign Sector
| Data Series: Exports
of Goods and Services |
 |
Definition:
Measures U.S. shipments of goods and services to foreign countries. |
|
Details:
- Includes industry-level data and exports by country of
destination.
- Data are very volatile, look at overall trends.
|
 |
Frequency:
Monthly. Data are released around six weeks after the end of
the reporting month. (For example, October data would be published
around the middle of December.)
|
 |
Publisher:
Bureau of the Census. |
 |
Latest
Press Release
Where Can I Get Historical Data? FRED®
(Goods and services are listed separately.)
|
|
Data Series: Imports of Goods
and Services |
|
Definition:
Measures shipments of goods and services received by the United
States from foreign countries. |
|
|
Details:
- Includes industry-level data and imports by country of
origination.
- Data are very volatile, look at overall trends.
|
|
Frequency:
Monthly. Data released around six weeks after the end of the
reporting month. (For example, October data would be released
around the middle of December.)
|
|
Publisher:
Bureau of the Census. |
|
Latest
Press Release
Where Can I Get Historical Data? FRED® (Goods
and services are listed separately.)
|
| Data Series: Goods
and Services Trade Balance |
|
Definition:
Balance = Exports - Imports (balance equals exports minus imports) |
|
|
Details:
- Includes industry level data and exports by country of
destination.
|
|
Frequency:
Monthly. Data released around six weeks after the end of the
reporting month. (For example, October data would be released
around the middle of December.)
|
|
Publisher:
Bureau of the Census. |
|
Latest
Press Release
Where Can I Get Historical Data? FRED® |
| Data Series: Current
Account Balance (CAB) |
|
Definition:
Measures the combined balances on trade in goods and services,
income and net unilateral current transfers. |
|
|
Details:
- Trade in goods and services is discussed above in "Exports
of Goods and Services" and "Imports of Goods and
Services."
- Balance on income is income receipts minus income payments.
- Income receipts include earnings on U.S.-owned foreign
assets (direct investment abroad, U.S. holdings of foreign
stocks and bonds, etc.) and the compensation of U.S.
workers abroad.
- Income payments include receipts on foreign-owned
U.S. assets (direct investment in the U.S., foreign
holdings of U.S. stocks, bonds and government securities)
and the compensation of foreign workers in the United
States.
- Net current transfers include government transfers such
as foreign aid.
- Most frequently used measure is the current account balance
as a percentage of gross domestic product (GDP).
- A current account surplus means that U.S. domestic saving
is greater than investment in the United States.
- A current account deficit means that U.S. Domestic saving
is less than investment in the Untied States.
- For a discussion of the U.S. current account deficit see:
Donald L. Kohn, "The
U.S. Current Account Deficit," Remarks at the 12th
Frankfurt European Banking Congress, Frankfurt, Germany,
Nov. 22, 2002.
|
|
Frequency:
Quarterly. Data are released the day following the end of the
reporting period.
|
|
Publisher:
Bureau of the Census. |
|
Latest
Press Release
Where Can I Get Historical Data? FRED® |
|
Data Series: Major Currency Exchange
Rate Index |
|
Definition:
Weighted average of the foreign exchange values of the U.S.
dollar against seven major currencies. |
|
|
Details:·
- Currencies in the index are the:
- Australian dollar
- Canadian dollar
- euro
- Japanese yen
- Swedish krona,
- Swiss franc and
- British pound.
- The weights given to each currency are based on:
1) U.S. exports to each country whose currency is in
the index;
2)U.S. imports from each country whose currency is
in the index and
3) a measure of competition between the United States
and each country whose currency is in the index in the
markets of the other countries. For more detail see:
Michael P. Leahy,
"New Summary Measures of the Foreign Exchange Value
of the Dollar," Federal Reserve Bulletin, Oct.
1998, pp. 811-818.
- Nominal and real major currency indexes are calculated.
The real index weights each exchange rate by the ratio of
the U.S. and foreign consumer price indexes.
- The index is set at 100 in March of 1973.
- A rise in the index indicates an appreciation of the dollar
against the other major currencies.
- A fall in the index indicates a depreciation of the dollar
against the other major currencies.
|
|
Frequency:
Daily. Data are released the following day.
|
|
Publisher:
Board of Governors of the Federal Reserve System |
|
Latest
Press Release
Where Can I Get Historical Data? FRED® |
| Data Series: Broad
Currency Exchange Rate Index |
|
Definition:
The weighted average of the foreign exchange values of the U.S.
Dollar against 26 other currencies. |
|
|
Details:
Currencies in the index include the:
- Argentinean peso
- Australian dollar
- Brazilian real
- Canadian dollar
- Chilean peso
- Chinese yuan
- Colombian peso
- euro
- Hong Kong dollar
- Indian rupee
- Indonesian rupiah
- Israel shekel
- Japanese yen
- Korean won
- Malaysian ringgit
- Mexican peso
- Philippine peso
- Russian ruble
- Saudi Arabian riyal
- ·Singapore dollar
- Swedish krona
- Swiss franc
- Taiwan dollar
- Thai baht
- Venezuelan bolivare and
- British pound
- The weights given to each currency are based on:
- U.S. Exports to each country whose currency is in
the index;
- U.S. Imports from each country whose currency is in
the index and
- a measure of competition between the United States
and each country whose currency is in the index in the
markets of the other countries. For more detail see:
Michael P. Leahy, "New
Summary Measures of the Foreign Exchange Value of the
Dollar," Federal Reserve Bulletin, October
1998, pp. 811-818.
- Nominal and real major currency indexes are calculated.
The real index weights each exchange rate by the ratio of
the U.S. And foreign consumer price indexes.
- The index is set at 100 in January of 1997.
- A rise in the index indicates an appreciation of the dollar
against the other major currencies.
- A fall in the index indicates a depreciation of the dollar
against the other major currencies.
|
|
Frequency:
Daily. Data are released the following day.
|
|
Publisher:
Board of Governors of the Federal Reserve System |
|
Latest
Press Release
Where Can I Get Historical Data? FRED® |
| Data Series: Bilateral
Exchange Rates |
|
Definition:
Measures the exchange value of the U.S. Dollar relative to another
currency. |
|
|
Details:
- Most exchange rates are given as currency units per U.S.
Dollar This is the foreign currency price of a dollar (i.e.,
how many units of a foreign currency it takes to buy one
dollar).
- A rise in the exchange rate indicates an appreciation
of the dollar.
- A fall in the exchange rate indicates a depreciation
of the dollar.
- Some exchange rates are given as U.S. Dollars per foreign
currency. This is the dollar price of a foreign currency
(i.e., how many dollars does it take to buy one unit of
the foreign currency).
- A rise in the exchange rate indicates a depreciation
of the dollar.
- A fall in the exchange rate indicates an appreciation
of the dollar.
|
|
Frequency:
Daily. Data released the following day.
|
|
Publisher:
Board of Governors of the Federal Reserve System |
|
Latest
Press Release
Where Can I Get Historical Data? FRED® |
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Indicators of Demand
| Data Series: Advance
Monthly Sales for Retail and Food Services (Retail Sales) |
|
Definition:
Measures the sales of retail and food-service companies that
sell their final products to consumers. |
|
|
Details:
- The survey is based on about 5000 firms.
- Small and medium-sized firms participate for two-years,
then they are replaced.
- About 1,300 large firms are always in the sample.
- Industry-level detail also is available.
- Data are used as an early indicator of consumer behavior.
- Because auto sales are more volatile, this indicator excludes
motor vehicles and the parts often used to repair vehicles.
- Data do not include spending on service.
|
|
Frequency:
Monthly. Initial data, which are advance estimates, are released
around the 10th of the month after the reporting period. Preliminary
data are released two months after the reporting period, and
revised data are released three months later. (For example,
initial data for October are released around Nov. 10, preliminary
data released around Dec. 10 and revised data released around
Jan. 10.) Data also are revised annually based on results from
the Annual Retail Trade Survey. |
|
Publisher:
Bureau of the Census. |
|
Latest
Press Release
Where Can I Get Historical Data? FRED® |
|
Data Series: Advance Monthly
Sales for Retail and Food Services Excluding Motor Vehicles
and Parts (Retail Sales Excluding Motor Vehicles and Parts) |
|
Definition:
Measures the sales of retail and food-service companies excluding
motor vehicle and parts companies that sell their final products
to consumers. |
|
|
Details:
- This index removes the most volatile component of the
retail-sales series.
|
|
Frequency:
Monthly. Initial data, which are advance estimates, are released
around the 10th of the month after the reporting period. Preliminary
data are released two months after the reporting period, and
revised data are released three months later. (For example,
initial data for October are released around Nov. 10, preliminary
data released around Dec. 10 and revised data released around
Jan. 10) |
|
Publisher:
Bureau of the Census |
|
Latest
Press Release
Where Can I Get Historical Data? Bureau
of the Census |
|
Data Series: Personal
Consumption Expenditures (PCE) |
|
Definition: Measures the expenditures of individuals
on goods and services. |
|
|
Details:
- Both nominal and real (chained 2000 dollars) data are
available.
- Real data—rather than nominal data—is the indicator
most often used.
- Includes data on durable goods, nondurables goods and
services.
- Since consumption expenditures are the largest part of
GDP, changes in personal consumption expenditures are useful
indicators of future changes in GDP.
|
|
Frequency:
Monthly. Data are released around the end of the month after
the end of the reporting period. (For example, October data
are released around the end of November.) Data are frequently
revised. |
|
Publisher:
Department of Commerce, Bureau of Economic Analysis |
|
Latest
Press Release
Where Can I Get Historical Data? FRED® |
|
Data Series: Nonresidential
Fixed Investment (Business Investment) |
|
Definition: Measures the expenditures of businesses on
structures, equipment and software. |
|
|
Details:
- This indicator is part of the GDP data release.
- Both nominal and real (chained 2000 dollars) are available.
- Real—rather than nominal—data is the indicator
most often used.
- This indicator includes data on structures along with
equipment and software.
|
|
Frequency:
Quarterly. Advance data are released at the end of the month
following the end of the quarter. Preliminary data are released
at the end of the month. Final data are released at the end
of the third month. (For example, in the quarter ending in March,
advance data are released at the end of April, preliminary data
released at the end of May and final data released at the end
of June.) |
|
Publisher:
Department of Commerce, Bureau of Economic Analysis |
|
Latest
Press Release
Where Can I Get Historical Data? FRED® |
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Inflation Expectations
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Inflation Measures
| Data
Series:
Consumer Price Index (CPI) |
|
Definition:
An index that measures the average change over time in
the prices of a basket of goods and services bought by
a typical urban household. |
|
|
Details:
· The CPI only includes expenditures that consumers
pay directly. For example, it does not include things
such as employer-paid health-care premiums or government
health-care payments.
- Main categories covered:
- food and beverages
- housing
- apparel
- transportation
- medical care
- recreation
- education and communication
- other goods and services
- This is the most widely cited measure of inflation
but has been replaced by the PCE price index as the
inflation forecast used by the FOMC.
- Weighting scheme = fixed weights. The current basket
is based on a survey of urban consumers' purchases
from 2001-2002.
|
|
Frequency:
Monthly. Data usually are published the third week of
the month after the reporting period. (For example, the
CPI for October would be reported the third week of November.)
|
|
Publisher:
Department of Labor, Bureau of Labor Statistics |
|
Latest
Press Release
Where Can I Get Historical Data? FRED® |
Data Series: Consumer
Price Index for all Urban Consumers: All Items Less Food and
Energy (Core CPI) |
|
Definition: An index that measures the average change
over time in the prices of a basket of goods and services bought
by a typical urban household excluding food and energy. |
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Details:·
This measure excludes the two most volatile components
of the CPI:
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Frequency:
Monthly. Data usually are published the third week of the month
after the reporting period. (For example, data for the month
of October would be reported the third week of November.)
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Publisher: Department
of Labor, Bureau of Labor Standards |
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Latest
Press Release
Where Can I Get Historical Data? FRED® |
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| Data Series:
Personal Consumption Expenditures
(PCE) Price Index |
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Definition:
An index that measures the average change over time in
the prices of a basket of goods and services bought by
a typical consumer. |
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Details:
Weighting scheme = chain weights. Each year's basket is
based on expenditures from the previous year.
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Frequency:
Monthly. Data are reported at the end of the next month
or the beginning of the following month. (For example,
the CPE for October would be reported either at the end
of November or the beginning of December.)
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Publisher:
Department of Commerce, Bureau of Economic Analysis. |
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Latest
Press Release
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Data Series: GDP Deflator |
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Definition: An index that measures the average change
over time in prices of all goods and services produced by the
domestic economy. |
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Details:
Weighting scheme = chain weights. Each year's basket is based
on expenditures from the previous year.
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Frequency:
Quarterly. Advance data are released at the end of the next
month after the quarter end. Preliminary data released at the
end of the following month. Final data released the end of the
next month. (For example, for the quarter ending in March, advance
data are released at the end of April, preliminary data released
at the end of May and final data released at the end of June.
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Publisher: Department
of Commerce, Bureau of Economic Analysis. |
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Latest
Press Release
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