MZM Own Rate (DISCONTINUED)-Consumer Price Index for All Urban Consumers: All Items in U.S. City Average

Source: Federal Reserve Bank of St. Louis  

Release: Money Zero Maturity (MZM)  

Units:  Percent, Not Seasonally Adjusted

Frequency:  Monthly

Notes:

Weighted average of the rates received on the interest-bearing assets included in MZM. The interest-bearing assets include size of the other checkable deposits, saving deposits, money market mutual fund holdings that are weighted using their corresponding rates.

The construction of this series was discontinued as of July 12, 2019. The underlying data can be accessed through the following sources: size of the assets can be obtained from the H.6 release published by the Board of Governors, rate on the money market mutual funds from iMoneyNet, and the remaining rates from the Weekly National Rates and Rate Caps from the FDIC website. Listing of the sources is provided for informational purposes only: the Federal Reserve Bank of St. Louis is not associated with any listed private entities and cannot guarantee that the listed data sources will provide the data in the future.

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