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MARKET SHOCK: A disruption of market equilibrium (that is, a market adjustment) caused by a change in a demand determinant (and a shift of the demand curve) or a change in a supply determinant (and a shift of the supply curve). A market shock can take one of four forms--an demand increase, demand decrease, supply increase, or supply decrease. An increase is seen as a rightward shift of either curve and results in an increase in equilibrium quantity. A decrease is a leftward shift of either curve and results in a decrease in equilibrium quantity. However, a change in demand results in price and quantity to change in the same direction, while a change in supply causes equilibrium price to move the opposite direction as quantity.

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CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS:

An index of prices of goods and services typically purchased by urban consumers. The Consumer Price Index for All Urban Consumers (CPI-U) is the official name for the Consumer Price Index (CPI) commonly reported in the media. It is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI-U is so designated to differentiate it from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
The Consumer Price Index for All Urban Consumers (CPI-U) measures the prices of goods and services typically purchased by all urban consumers. The less common Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) tracks the prices of goods typically purchased by urban wage earners and clerical workers. The CPI-W is an extension of the original CPI developed early in the 1900s that provided cost-of-living adjustment information to wage-earning workers (which is why the Bureau of LABOR Statistics oversees the CPI).

For formula for calculating the CPI-U is given as:

CPI-U=total expenditures on
market basket in current period
total expenditures on
market basket in base period
x 100
The CPI-U was introduced in 1978 by the Bureau of Labor Statistics to address some of the deficiencies in the existing consumer price index, which was subsequently designated as CPI-W. The CPI-U provides a broader, more comprehensive measure of the economy's price level. In particular, the newer CPI-U includes the prices of goods and services purchased by about 80 percent of the non-institutionalized population while the older CPI-W includes about only 32 percent. Unless otherwise noted, the CPI reported by the popular press and used for economic analysis is invariably the broader CPI-U.

<= CONSUMER PRICE INDEXCONSUMER PRICE INDEX FOR URBAN WAGE EARNERS AND CLERICAL WORKERS =>


Recommended Citation:

CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 14, 2025].


Check Out These Related Terms...

     | Consumer Price Index | Consumer Price Index for Urban Wage Earners and Clerical Workers | GDP price deflator | Producer Price Index | Wholesale Price Index | CPI and GDP price deflator |


Or For A Little Background...

     | inflation | price level | price index | cost of living | business cycles | business cycle indicators | macroeconomics | macroeconomic goals | macroeconomic problems | production possibilities | gross domestic product | real gross domestic product | nominal gross domestic product |


And For Further Study...

     | deflation | disinflation | inflation problems | inflation causes | demand-pull inflation | cost-push inflation | unemployment rate | Bureau of Labor Statistics | Bureau of Economic Analysis | National Income and Product Accounts |


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     | Bureau of Labor Statistics |


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