Source: National Bureau of Economic Research  

Release: NBER Macrohistory Database  

Units:  Index 1913=100, Not Seasonally Adjusted

Frequency:  Monthly

Notes:

Components Of This Index And Their Respective Weights Are: Industrial Prices, Non-Agricultural, Wholesale (10); Farm Prices At The Farm (10); Retail Food Prices In 51 Cities (10); Rents, In 32 Cities (5); Clothing, Fuel, Furnishings, Etc., Retail (10); Freight And Transportation Costs (5); Realty Value, Urban And Farm (10); Securities, Bonds, And Stocks (10); Equipment And Machinery (10); Hardware Prices (3); Automobile Prices (2); Wages, Federal Reserve Board, New York Composite (15). "Data For 1934-November, 1939, Are Correct As Given In The"Monthly Review"; They Are Discontinued After November, 1939." Telephone Conversation Of 5/24/41 With Reports Division Of The Federal Reserve Board Of New York. Source: Federal Reserve Bank Of New York City, Letter From Reports Department For 1860-1933. For 1934-1939, Data Are From "Monthly Review Of Credit And Business Conditions."

This NBER data series m04051 appears on the NBER website in Chapter 4 at http://www.nber.org/databases/macrohistory/contents/chapter04.html.

NBER Indicator: m04051

Source: U.S. Bureau of Labor Statistics  

Release: Consumer Price Index  

Units:  Index 1982-1984=100, Not Seasonally Adjusted

Frequency:  Monthly

Source: U.S. Bureau of Labor Statistics  

Release: Consumer Price Index  

Units:  Index 1982-1984=100, Seasonally Adjusted

Frequency:  Monthly

Notes:

The Consumer Price Index for All Urban Consumers: All Items (CPIAUCSL) is a price index of a basket of goods and services paid by urban consumers. Percent changes in the price index measure the inflation rate between any two time periods. The most common inflation metric is the percent change from one year ago. It can also represent the buying habits of urban consumers. This particular index includes roughly 88 percent of the total population, accounting for wage earners, clerical workers, technical workers, self-employed, short-term workers, unemployed, retirees, and those not in the labor force.

The CPIs are based on prices for food, clothing, shelter, and fuels; transportation fares; service fees (e.g., water and sewer service); and sales taxes. Prices are collected monthly from about 4,000 housing units and approximately 26,000 retail establishments across 87 urban areas. To calculate the index, price changes are averaged with weights representing their importance in the spending of the particular group. The index measures price changes (as a percent change) from a predetermined reference date. In addition to the original unadjusted index distributed, the Bureau of Labor Statistics also releases a seasonally adjusted index. The unadjusted series reflects all factors that may influence a change in prices. However, it can be very useful to look at the seasonally adjusted CPI, which removes the effects of seasonal changes, such as weather, school year, production cycles, and holidays.

The CPI can be used to recognize periods of inflation and deflation. Significant increases in the CPI within a short time frame might indicate a period of inflation, and significant decreases in CPI within a short time frame might indicate a period of deflation. However, because the CPI includes volatile food and oil prices, it might not be a reliable measure of inflationary and deflationary periods. For a more accurate detection, the core CPI (CPILFESL) is often used. When using the CPI, please note that it is not applicable to all consumers and should not be used to determine relative living costs. Additionally, the CPI is a statistical measure vulnerable to sampling error since it is based on a sample of prices and not the complete average.

For more information on the consumer price indexes, see:
Bureau of Economic Analysis. "CPI Detailed Report." 2013.
Handbook of Methods
Understanding the CPI: Frequently Asked Questions