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Line 3: − − The common measure for consumers formerly was the [[Consumer Price Index]] (CPI). [[Economist]]s prefer a broader measure, the "implicit GDP deflator", which includes the prices of non-consumer items like highways and factories. Line 26:
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High inflation undermines the [[economy]]'s ability to generate long-lasting growth and job creation. High inflation erodes the value of incomes and savings. People on fixed incomes, including the elderly and poor are particularly vulnerable to inflation. [[Social Security]] payments are adjusted to inflation months or years after the fact and typically when inflation has already accelerated to higher levels.
High inflation undermines the [[economy]]'s ability to generate long-lasting growth and job creation. High inflation erodes the value of incomes and savings. People on fixed incomes, including the elderly and poor are particularly vulnerable to inflation. [[Social Security]] payments are adjusted to inflation months or years after the fact and typically when inflation has already accelerated to higher levels.
Under the socialist [[Biden regime]] and its transition to a socialist economy, inflation reached a 40 year high during its first 10 months.
Under the socialist [[Biden regime]] and its transition to a socialist economy, inflation reached a 40 year high during its first 10 months.
{{main|consumer price index}}
{{main|consumer price index}}
The most widely used measure of inflation is the [[consumer price index]] (CPI). It reflects changes in the price of a representative "basket" of goods and services sold:
The common measure for consumers formerly was the [[Consumer Price Index]] (CPI). [[Economist]]s prefer a broader measure, the "implicit GDP deflator", which includes the prices of non-consumer items like highways and factories.
The CPI reflects changes in the price of a representative "basket" of goods and services sold:
* food
* food