#CPI数据来袭 CPI (Consumer Price Index) is an indicator that measures the changes in the price level of a basket of consumer goods and services, used to reflect the degree of inflation or deflation. Here are the key points:

1. **Core Function**

- Monitor changes in the cost of living and assess the overall price level.

- Governments, central banks, and businesses commonly use it to adjust policies, wages, or contracts.

2. **Calculation Method**

- **Selected Basket of Goods**: Covers typical consumption items such as food, housing, transportation, healthcare, and education.

- **Price Collection**: Regularly collects prices of goods and services nationwide.

- **Weighted Average**: Different items are weighted based on their proportion of consumer spending (for example, housing usually has a higher weight).

3. **Types Distinction**

- **Core CPI**: Excludes volatile items like food and energy, reflecting long-term trends.

- **Sub-item CPI**: Such as Energy CPI and Food CPI, used to analyze price changes in specific areas.

4. **Practical Applications**

- **Policy Adjustments**: For example, social security and pensions increase with rising CPI.

- **Economic Analysis**: Central banks refer to CPI to decide on interest rates (for example, a high CPI may lead to interest rate hikes to curb inflation).

- **Business Decisions**: Companies adjust pricing or cost budgets based on CPI expectations.

5. **Limitations**

- **Substitution Bias**: Does not fully reflect consumer behavior of shifting to lower-priced substitutes.

- **Quality Changes**: Technological advancements (such as improvements in mobile phone features) may not be fully accounted for.

- **Regional Differences**: National data may obscure price fluctuations in specific local areas.

**Example**: If a country's CPI rises by 5% year-on-year, it means that the same goods and services are generally 5% more expensive than a year ago, indicating a decrease in currency purchasing power.

**Comparison with Other Indicators**:

- **PPI (Producer Price Index)**: Tracks changes in raw material prices at the production end, usually leading CPI.

- **GDP Deflator**: Covers all goods and services produced domestically, with a broader scope than CPI.

Understanding CPI helps grasp economic trends, but it should be analyzed in conjunction with other data.