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(CPI) in any year is the cost in that year of a bundle of goods and services
purchased by a typical urban consumer compared to the cost of that bundle of
goods and services in a base period. A narrow measure of
inflation, because confined to consumer goods and services. For this series, the base period is the
1982-84 annual average. The series used in MeasuringWorth extends the United
States Bureau of Labor Statistics CPI-U (consumer price index for all urban
consumers) series back in time. The official CPI series begins in 1913, but
improvements to the official series are made here, so the CPI series here is
identical to the BLS series only from 1978 onward.
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