The latest data from the BLS further confirms the low level of inflation in the U.S. A number of notable items that make up a large percentage of the CPI actually declined in 2013. Motor fuel (which has a weight of 5.68 out of 100) in the CPI declined 1.0%, Household furnishings (3.2) fell 2.2%. Medical equipment, non prescription drug prices, and recreational supplies (like sporting goods). The average price of DVDs fell nearly 10% last year.
Economist, Justin Wolfers provides a light, but informative closer look at the recent CPI numbers and cookie versus cupcake inflation:
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Dwight Steward, Ph.D.
Dr. Steward regularly writes and speaks on topics involving business and individual economic damages, employment audits, and the analysis of payroll and time data in wage and hour investigations. Dr. Steward has also held teaching positions at The University of Texas-Austin in the Department of Economics and in the Red McCombs School of Business, The College of Business at Sam Houston State University, and at The University of Iowa. He has taught numerous courses in statistics, corporate finance, labor economics, business policies, managerial economics, and microeconomics.
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