What surprised you about how the CPI is calculated? Does an increase in the CPI mean the economy is experiencing inflation? Is the U.S. in an inflationary period now? How does the CPI compare to other price indexes? How is it used?

The topic:
Go to www.bls.gov and look up information on the Consumer Price Index—CPI. The CPI FAQs section is especially interesting and useful. What surprised you about how the CPI is calculated? Does an increase in the CPI mean the economy is experiencing inflation? Is the U.S. in an inflationary period now? How does the CPI compare to other price indexes? How is it used?

Note: Please do not just post an answer to each of the questions. These questions are to get you started in your discussion—to make you think. Use one or two of them to get yourself started in exploring the CPI. You will no doubt have your own questions that you will want to ask your class members as well.