More commonly, changes in inflation are referred to
as changes in The Cost of Living; the everyday items we buy get more expensive and our heating and gas bills go up, for example.
According to the non-partisan Congressional Budget Office (CBO), the chained CPI «provides an unbiased estimate
of changes in the cost of living from one month to the next» (CBO, Feb. 2010).
Other cities earn a relative score, where a one - point increase or decrease equates to a 1 %
change in the cost of living.
«Our cities are changing so fast, there's not really any good solution that is a short - term viable product that can really help the ebbs and flows in economy or
changes in cost of living,» he said.
NOW There are different ways to measure
the change in the cost of living.
Iowa Senator Tom Harkin and California Representative George Miller say their bill, introduced yesterday, would boost the minimum by 2015, followed by automatic annual increases tied to
changes in the cost of living.
Nevertheless, the authorities issue monthly statements, reporting that
the change in the cost of living, for the last month, year over year, is 0.00 %.
In closing, as an aside, can you imagine a question given at the Presidential debates that went something like this: «Senator, the leading bond manager of our country, and many leading financial writers (e.g. James Grant, Barry Ritholtz) have argued that the way that the government calculates the CPI is flawed, and understates
the change in the cost of living.
A statistical device that measures
the change in the cost of living for consumers.
Incomes, however, have not increased in step with
changes in the cost of living.
There is such low variance in the rate of pay in this field in general that the difference is only accounts for
the change in the cost of living per state.