Thought it does not include non-economic factors such as safety, it is often referred to as a cost-of-living index.
There are actually two versions of this statistic; one, denoted W, represents Clerical Workers and Urban Wage Earners, while the other, denoted U, also incorporates a "Chained" version. Computed by the Bureau of Labor Statistics, it groups items into eight major categories, such as Housing, Transportation, and Food and Beverages. Thought it does not include non-economic factors such as safety, it is often referred to as a cost-of-living index. For 10 points, name this statistic that computes the price of a representative "basket" of goods bought by consumers, which can therefore be used as a measure of inflation.
There are actually two versions of this statistic; one, denoted W, represents Clerical Workers and Urban Wage Earners, while the other, denoted U, also incorporates a "Chained" version.
{Consumer Price} Index [or {CPI} ]