diff --git a/Data/US-Inflation/CPI-US-Monthly-1947-2025.csv b/Data/US-Inflation/CPI-US-Monthly-1947-2025.csv index e416e0b..e649620 100644 --- a/Data/US-Inflation/CPI-US-Monthly-1947-2025.csv +++ b/Data/US-Inflation/CPI-US-Monthly-1947-2025.csv @@ -943,3 +943,4 @@ observation_date,CPIAUCSL 2025-06-01,321.500 2025-07-01,322.132 2025-08-01,323.364 +2025-09-01,324.368 diff --git a/Data/US-Inflation/source.md b/Data/US-Inflation/source.md new file mode 100644 index 0000000..cd46fc5 --- /dev/null +++ b/Data/US-Inflation/source.md @@ -0,0 +1,688 @@ +# U.S. Consumer Price Index (CPI-U) - Inflation Time Series + +**Source ID:** DS-00003 +**Record Created:** 2025-10-25 +**Last Updated:** 2025-10-25 +**Cataloger:** Substrate Data Curation +**Review Status:** Reviewed + +--- + +## Bibliographic Information + +### Title Statement +- **Main Title:** Consumer Price Index for All Urban Consumers: All Items in U.S. City Average (CPIAUCSL) +- **Subtitle:** Monthly U.S. Inflation Measure, Seasonally Adjusted (1947-Present) +- **Abbreviated Title:** CPI-U, CPIAUCSL +- **Variant Titles:** U.S. CPI, Consumer Price Index, Inflation Index, CPI All Items + +### Responsibility Statement +- **Publisher/Issuing Body:** Federal Reserve Bank of St. Louis (FRED) +- **Department/Division:** Federal Reserve Economic Data (FRED) Division +- **Contributors:** Bureau of Labor Statistics (BLS - primary source), U.S. Department of Labor +- **Contact Information:** stlsFRED@stls.frb.org + +### Publication Information +- **Place of Publication:** St. Louis, Missouri, USA (FRED); Washington, D.C., USA (BLS) +- **Date of First Publication:** 1947-01 (monthly series) +- **Publication Frequency:** Monthly (released mid-month, typically day 12-15) +- **Current Status:** Active + +### Edition/Version Information +- **Current Version:** Continuous monthly updates +- **Version History:** 1947-present continuous series; base period re-anchored periodically (current: 1982-1984 = 100) +- **Versioning Scheme:** Monthly releases with minimal historical revisions + +--- + +## Authority Statement + +### Organizational Authority + +**Issuing Organization Analysis:** +- **Official Name:** Federal Reserve Bank of St. Louis (FRED aggregator); Bureau of Labor Statistics (BLS - primary authority) +- **Type:** Federal Reserve Bank (FRED); Federal Government Statistical Agency (BLS) +- **Established:** FRED: 1991; BLS: 1884 (140+ years of labor statistics) +- **Mandate:** Federal Reserve Act (FRED); Bureau of Labor Statistics Act - authority to measure labor market conditions and price changes +- **Parent Organization:** Federal Reserve System (FRED); U.S. Department of Labor (BLS) +- **Governance Structure:** Federal Reserve Bank board (FRED); Presidential appointment + Senate confirmation (BLS Commissioner) + +**Domain Authority:** +- **Subject Expertise:** Price measurement, inflation statistics (BLS 140+ years); economic data aggregation (FRED 30+ years) +- **Recognition:** BLS is U.S. principal statistical agency for labor and price statistics; CPI is the most widely-used inflation measure globally +- **Publication History:** CPI published since 1913 (various forms), continuous monthly since 1947; FRED since 1991 +- **Peer Recognition:** Federal Reserve, Treasury, Social Security Administration, academic economists worldwide cite BLS CPI + +**Quality Oversight:** +- **Peer Review:** BLS methodology reviewed by National Academy of Sciences, academic economists (Boskin Commission, others) +- **Editorial Board:** Technical Advisory Committee on the Consumer Price Index +- **Scientific Committee:** Bureau of Labor Statistics leadership (professional economists and statisticians) +- **External Audit:** Subject to Government Accountability Office (GAO) oversight +- **Certification:** Follows international standards (ILO CPI Manual, UN Statistical Commission) + +**Independence Assessment:** +- **Funding Model:** Federal appropriations (no commercial interests) +- **Political Independence:** Professional statistical agency; BLS Commissioner serves under civil service protections; statutory independence +- **Commercial Interests:** None (federal government mission) +- **Transparency:** Complete methodology documentation (BLS Handbook of Methods); data collection procedures published + +### Data Authority + +**Provenance Classification:** +- **Source Type:** Primary (BLS direct measurement from price collection) +- **Data Origin:** BLS collects ~80,000 price quotes monthly from ~23,000 retail and service establishments across 75 urban areas +- **Chain of Custody:** Price collectors → BLS field offices → National office aggregation → Statistical analysis → FRED aggregation → Public access + +**Primary Source Characteristics:** +- BLS is the authoritative U.S. statistical agency for CPI compilation +- Direct measurement from retail prices (in-person and online price collection) +- Legal mandate under Bureau of Labor Statistics Act +- Follows internationally-recognized Consumer Price Index methodology (ILO CPI Manual) + +--- + +## Scope Note + +### Content Description + +**Subject Coverage:** +- **Primary Subjects:** Inflation, Price Indices, Cost of Living, Consumer Economics +- **Secondary Subjects:** Macroeconomics, Monetary Policy, Purchasing Power, Real Value Adjustments +- **Subject Classification:** + - LC: HB (Economic Theory), HC (Economic History and Conditions) + - Dewey: 338.5 (Prices), 330.973 (U.S. Economics) +- **Keywords:** CPI, Consumer Price Index, inflation, price index, purchasing power, cost of living, real wages, deflator, basket of goods, seasonally adjusted + +**Geographic Coverage:** +- **Spatial Scope:** United States (75 urban areas covering ~93% of U.S. population) +- **Countries/Regions Included:** United States only (separate CPI series exist for regions) +- **Geographic Granularity:** National aggregate (separate metropolitan area CPIs available) +- **Coverage Completeness:** 93% of U.S. population (all urban consumers) +- **Notable Exclusions:** Rural populations (~7% of U.S.), military personnel, institutionalized populations + +**Temporal Coverage:** +- **Start Date:** 1947-01 (monthly series); 1913 (earlier annual series) +- **End Date:** Present (ongoing monthly updates) +- **Historical Depth:** 78+ years (monthly), 112+ years (including earlier series) +- **Frequency of Observations:** Monthly +- **Temporal Granularity:** Month-level +- **Time Series Continuity:** Excellent; continuous monthly data with minimal revisions + +**Population/Cases Covered:** +- **Target Population:** All urban consumers (~93% of U.S. population) +- **Inclusion Criteria:** Expenditure patterns of urban wage earners, clerical workers, professional, managerial, technical workers, self-employed, unemployed, retirees +- **Exclusion Criteria:** Rural non-metropolitan populations, farm families, military on base, institutionalized persons +- **Coverage Rate:** 93% of U.S. total population +- **Sample vs. Census:** Sample-based: ~23,000 retail establishments, ~80,000 price quotes monthly + +**Variables/Indicators:** +- **Number of Variables:** 1 primary series (CPIAUCSL); 8,000+ related detailed CPI series +- **Core Indicators:** + - CPI Index (1982-1984 = 100 baseline) + - Month-over-month change + - Year-over-year inflation rate + - Seasonally adjusted values +- **Derived Variables:** Inflation rates (monthly, annual), real wage deflators, purchasing power calculations +- **Data Dictionary Available:** Yes - BLS CPI Handbook of Methods + +### Content Boundaries + +**What This Source IS:** +- Gold-standard measure of U.S. consumer price inflation +- Primary indicator used by Federal Reserve for monetary policy (2% inflation target) +- Official U.S. government price statistic for cost-of-living adjustments (Social Security, tax brackets) +- Internationally-comparable using ILO CPI Manual framework +- Best source for understanding U.S. purchasing power changes over time + +**What This Source IS NOT:** +- NOT a cost-of-living index (does not account for substitution, quality changes perfectly) +- NOT a measure of prices paid by businesses (use Producer Price Index) +- NOT adjusted for individual consumption patterns (measures average urban consumer) +- NOT real-time (2-week lag from month end to publication) +- NOT granular below national level (use metropolitan area CPIs for local analysis) + +**Comparison with Similar Sources:** + +| Source | Advantages Over This Source | Disadvantages vs. This Source | +|--------|----------------------------|-------------------------------| +| PCE Price Index (Fed preferred) | Accounts for consumer substitution; broader coverage | Less widely known; more complex methodology | +| CPI-W (Urban Wage Earners) | Specific to wage/clerical workers | Narrower coverage (32% of population vs 93%) | +| Chained CPI | Better accounts for substitution | More complex; less historical data | +| PPI (Producer Price Index) | Business/wholesale prices | Not consumer-facing; different concept | + +--- + +## Access Conditions + +### Technical Access + +**API Information:** +- **Endpoint URL:** https://fred.stlouisfed.org/graph/fredgraph.csv?id=CPIAUCSL&cosd=1947-01-01 +- **API Type:** Direct CSV download (HTTP GET); also FRED API available +- **API Version:** FRED API v1 +- **OpenAPI/Swagger Spec:** https://fred.stlouisfed.org/docs/api/fred/ +- **SDKs/Libraries:** Python (fredapi), R (fredr), unofficial libraries for other languages + +**Authentication:** +- **Authentication Required:** No (for CSV); Yes for FRED API +- **Authentication Type:** API Key (free) for FRED API +- **Registration Process:** Sign up at https://fredaccount.stlouisfed.org/apikeys +- **Approval Required:** No (instant API key) +- **Approval Timeframe:** Immediate + +**Rate Limits:** +- **Requests per Second:** Not documented for CSV download; reasonable use expected +- **Requests per Day:** FRED API: 120 requests/minute +- **Concurrent Connections:** Not specified +- **Throttling Policy:** API enforces rate limits with 429 status code +- **Rate Limit Headers:** Not provided for CSV; API includes rate limit info + +**Query Capabilities:** +- **Filtering:** CSV downloads full series; FRED API supports date range filtering +- **Sorting:** Chronological (inherent in time series) +- **Pagination:** Not applicable (full series download) +- **Aggregation:** Pre-aggregated monthly data +- **Joins:** Not applicable (single time series) + +**Data Formats:** +- **Available Formats:** CSV (direct download), JSON/XML (FRED API) +- **Format Quality:** Well-formed CSV; UTF-8 encoded; consistent schema +- **Compression:** Not compressed +- **Encoding:** UTF-8 + +**Download Options:** +- **Bulk Download:** Yes - full CSV download +- **Streaming API:** No +- **FTP/SFTP:** No +- **Torrent:** No +- **Data Dumps:** Full series download each time (not incremental) + +**Reliability Metrics:** +- **Uptime:** Very high (99.9%+ estimated); Federal Reserve infrastructure +- **Latency:** <1 second for CSV download +- **Breaking Changes:** Schema stable for decades; BLS methodology changes documented years in advance +- **Deprecation Policy:** Federal Reserve commitment to long-term data availability +- **Service Level Agreement:** No formal SLA (federal government service) + +### Legal/Policy Access + +**License:** +- **License Type:** Public Domain (U.S. Government Work) +- **License Version:** N/A +- **License URL:** https://www.usa.gov/government-works +- **SPDX Identifier:** CC0-1.0 (effectively public domain for U.S. government data) + +**Usage Rights:** +- **Redistribution Allowed:** Yes (public domain) +- **Commercial Use Allowed:** Yes (public domain) +- **Modification Allowed:** Yes (public domain) +- **Attribution Required:** Not legally required; citation recommended as scholarly best practice +- **Share-Alike Required:** No + +**Cost Structure:** +- **Access Cost:** Free + +**Terms of Service:** +- **TOS URL:** https://fred.stlouisfed.org/legal/ +- **Key Restrictions:** No restrictions (public domain); standard disclaimer +- **Liability Disclaimers:** Federal Reserve not liable for decisions based on data +- **Privacy Policy:** FRED collects website analytics; no personal data in economic statistics + +--- + +## Collection Development Policy Fit + +### Relevance Assessment + +**Substrate Mission Alignment:** +- **Human Progress Focus:** Purchasing power and cost-of-living central to measuring economic wellbeing and human progress +- **Problem-Solution Connection:** + - Links to Problems: Inflation volatility, wage erosion, economic inequality measurement + - Links to Solutions: Monetary policy frameworks, real wage adjustments, retirement planning +- **Evidence Quality:** Gold-standard for U.S. inflation measurement; supports evidence-based economic analysis + +**Collection Priorities Match:** +- **Priority Level:** CRITICAL - essential source for U.S. economic domain +- **Uniqueness:** Official U.S. government inflation measure; most widely-used price index +- **Comprehensiveness:** Fills critical gap; no other source provides this combination of authority, coverage, and historical depth + +### Comparison with Holdings + +**Overlapping Sources:** +- DS-00002: U.S. GDP (complementary - GDP for output, CPI for prices) +- Future: PCE Price Index (Federal Reserve's preferred inflation measure) + +**Unique Contribution:** +- Official BLS/U.S. government price statistic +- Most widely-cited inflation measure (Social Security COLA, tax brackets) +- Longest consistent time series (1947-present monthly) +- Used for real value adjustments across all economic research + +**Preferred Use Cases:** +- When official U.S. government inflation statistics required +- Historical inflation analysis (1947-present) +- Real wage and real value calculations +- Cost-of-living adjustment research +- Monetary policy analysis (Federal Reserve 2% target) + +--- + +## Technical Specifications + +### Data Model + +**Schema Documentation:** +- **Schema Type:** CSV with defined column structure +- **Schema URL:** https://fred.stlouisfed.org/series/CPIAUCSL +- **Schema Version:** Stable since FRED inception + +**Entity Types:** +- Monthly CPI observations (time series) + +**Key Relationships:** +- Date → CPI Value + +**Primary Keys:** +- Date (YYYY-MM-DD) + +**Foreign Keys:** +- None (single time series) + +### Metadata Standards Compliance + +**Standards Followed:** +- [x] Dublin Core +- [x] DCAT (Data Catalog Vocabulary) +- [x] Schema.org Dataset +- [x] SDMX (Statistical Data and Metadata eXchange) +- [ ] DDI (Data Documentation Initiative) - minimal +- [ ] ISO 19115 (Geographic Information Metadata) - not applicable +- [ ] MARC +- Other: ILO CPI Manual methodology standards + +**Metadata Quality:** +- **Completeness:** 90% of elements populated +- **Accuracy:** High - metadata maintained by FRED and BLS +- **Consistency:** Excellent - SDMX compliance ensures consistency + +### API Documentation Quality + +**Documentation Assessment:** +- **Completeness:** Comprehensive - all endpoints documented with examples +- **Examples Provided:** Yes - extensive examples in multiple programming languages +- **Error Messages:** Clear HTTP status codes and error descriptions +- **Change Log:** Maintained at https://fred.stlouisfed.org/docs/api/fred/ +- **Tutorials:** Available - step-by-step guides for common tasks +- **Support Forum:** Email support stlsFRED@stls.frb.org; no public forum + +--- + +## Source Evaluation Narrative + +### Methodological Assessment + +**Data Collection Methodology:** + +**Sampling Design:** +- **Method:** Probability sample (scientifically-selected retail establishments and items) +- **Sample Size:** ~23,000 retail and service establishments; ~80,000 price quotes monthly +- **Sampling Frame:** Universe of U.S. urban retail establishments +- **Stratification:** By item category, geographic region, establishment type +- **Weighting:** Expenditure weights from Consumer Expenditure Survey (updated every 2 years) + +**Data Collection Instruments:** +- **Instrument Type:** Direct price observation (in-person and online price collection) +- **Validation:** BLS field supervisors verify price quotes; automated consistency checks +- **Question Wording:** Standardized price collection protocols (exact item specifications) +- **Mode:** In-person visits (grocery, retail), phone (services), online (e-commerce) + +**Quality Control Procedures:** +- **Field Supervision:** BLS regional offices supervise price collectors +- **Validation Rules:** Automated checks for price changes >10%; item substitution protocols +- **Consistency Checks:** Cross-validation across similar items and geographic areas +- **Verification:** Monthly review by BLS economists +- **Outlier Treatment:** Large price changes investigated and verified before inclusion + +**Error Characteristics:** +- **Sampling Error:** Very low for national CPI (large sample); confidence intervals not published +- **Non-sampling Error:** Item substitution bias, quality adjustment challenges, new product introduction lag +- **Known Biases:** Upward bias (~0.5-1.0% annually) from substitution, quality changes (Boskin Commission findings) +- **Accuracy Bounds:** Academic estimates suggest ±0.1-0.3% for monthly CPI + +**Methodology Documentation:** +- **Transparency Level:** 5/5 (Exemplary) +- **Documentation URL:** https://www.bls.gov/opub/hom/cpi/ +- **Peer Review Status:** BLS methods reviewed by National Academy of Sciences; published in peer-reviewed journals +- **Reproducibility:** Methodology fully documented; data collection procedures published + +### Currency Assessment + +**Update Characteristics:** +- **Update Frequency:** Monthly (released mid-month, typically day 12-15) +- **Update Reliability:** Extremely consistent; releases follow strict schedule (8:30 AM ET) +- **Update Notification:** BLS release calendar published; FRED email alerts available +- **Last Updated:** 2025-08 (most recent as of October 2025) + +**Timeliness:** +- **Collection to Publication Lag:** ~2 weeks (data for month M published mid-month M+1) +- **Factors Affecting Timeliness:** Price collection window, quality review process +- **Historical Timeliness:** Consistent monthly release schedule maintained for decades + +**Currency for Different Uses:** +- **Real-time Analysis:** Unsuitable (2-week lag); most current available for monthly data +- **Recent Trends:** Excellent (monthly updates capture trends within 6 weeks) +- **Historical Research:** Excellent (continuous series 1947-present) + +### Objectivity Assessment + +**Potential Biases:** + +**Political Bias:** +- **Government Influence:** Statistical agency independence protected by law; BLS Commissioner serves under civil service +- **Editorial Stance:** Professional statistical neutrality mandated by statute +- **Political Pressure:** Occasional political commentary on CPI methodology; independence maintained + +**Commercial Bias:** +- **Funding Sources:** Federal appropriations (no commercial interests) +- **Advertising Influence:** Not applicable +- **Proprietary Interests:** None + +**Cultural/Social Bias:** +- **Geographic Bias:** Urban-centric (excludes rural 7%); 75 urban areas weighted by population +- **Social Perspective:** Average consumer basket may not reflect low-income or high-income consumption +- **Language Bias:** Published in English; limited translation +- **Selection Bias:** Item selection based on Consumer Expenditure Survey (updated every 2 years) + +**Transparency:** +- **Bias Disclosure:** BLS acknowledges known biases (substitution, quality adjustment); Boskin Commission documented +- **Limitations Stated:** Comprehensive methodology documentation notes limitations +- **Raw Data Available:** Detailed CPI components published; micro-data not publicly available (establishment confidentiality) + +### Reliability Assessment + +**Consistency:** +- **Internal Consistency:** Item-level CPIs aggregate mathematically to headline CPI +- **Temporal Consistency:** Stable methodology; major changes documented and phased in gradually +- **Cross-source Consistency:** Good agreement with PCE Price Index, IMF WEO inflation data + +**Stability:** +- **Definition Changes:** Occasional - major methodology updates implemented gradually (e.g., geometric mean, hedonic quality adjustment) +- **Methodology Changes:** Well-documented; typically phased in over years +- **Series Breaks:** Clearly marked when major changes implemented (base period changes) + +**Verification:** +- **Independent Verification:** Academic economists extensively study CPI; Boskin Commission independent review +- **Replication Studies:** Researchers use CPI data extensively; errors/discrepancies reported and corrected +- **Audit Results:** GAO audits BLS periodically; no major data quality issues identified + +### Accuracy Assessment + +**Validation Evidence:** +- **Benchmark Comparisons:** CPI compared to PCE Price Index (Federal Reserve preferred measure); differences documented +- **Coverage Assessments:** Expenditure weights updated from Consumer Expenditure Survey +- **Error Studies:** Boskin Commission (1996) estimated upward bias ~1.1% annually; BLS improvements reduced to ~0.5% + +**Accuracy for Different Uses:** +- **Point Estimates:** Highly reliable for national monthly CPI (large sample) +- **Trend Analysis:** Excellent for medium-term trends (6+ months); month-to-month noise exists +- **Cross-sectional Comparison:** Not applicable (U.S. only); international comparisons use Harmonized Indices +- **Sub-population Analysis:** Limited - metropolitan area CPIs available; no income-specific CPIs + +--- + +## Known Limitations and Caveats + +### Coverage Limitations + +**Geographic Gaps:** +- Rural non-metropolitan areas (~7% of U.S. population) +- Alaska and Hawaii covered separately (not in national index) + +**Temporal Gaps:** +- No gaps in monthly series since 1947 +- Earlier data (1913-1946) less frequent or different methodology + +**Population Exclusions:** +- Rural populations +- Military personnel on base +- Institutionalized populations (prisons, nursing homes) + +**Variable Gaps:** +- No individual consumption pattern adjustments (average consumer only) +- No wealth or asset price changes (home prices, stocks) +- Services quality changes challenging to capture + +### Methodological Limitations + +**Sampling Limitations:** +- Item substitution when products discontinued (introduces quality adjustment challenges) +- New products introduced with lag (e.g., smartphones took years to enter basket) + +**Measurement Limitations:** +- Quality improvements difficult to separate from price increases (hedonic quality adjustment imperfect) +- Online prices increasingly important; methodology adapting +- Shrinkflation (smaller package size for same price) challenging to capture + +**Processing Limitations:** +- Seasonal adjustment can mask underlying trends +- Base period changes (1982-1984 = 100) require careful interpretation for long-term comparisons + +### Comparability Limitations + +**Cross-national Comparability:** +- Different countries use different CPI methodologies +- Harmonized Index of Consumer Prices (HICP) used for international comparisons + +**Temporal Comparability:** +- Methodology improvements over time (geometric mean, hedonic quality, internet prices) +- Base period re-anchored periodically (does not affect inflation rates, but index levels) + +**Sub-group Comparability:** +- No income-specific CPIs (average consumer only) +- Metropolitan area CPIs exist but smaller samples (wider confidence intervals) + +### Usage Caveats + +**Inappropriate Uses:** +1. **DO NOT use for individual consumption** - reflects average urban consumer, not personal basket +2. **DO NOT use as cost-of-living index** - does not fully account for substitution or quality +3. **DO NOT compare month-to-month** without considering seasonal patterns and noise +4. **DO NOT use for asset prices** - excludes home prices, stocks, bonds (use Case-Shiller, S&P500) + +**Ecological Fallacy Risks:** +- National CPI does not reflect individual cities (use metropolitan CPIs) +- Average CPI does not reflect low-income or high-income consumption patterns + +**Correlation vs. Causation:** +- CPI measures price changes, not causes of inflation +- Appropriate for descriptive analysis, not causal inference without economic models + +--- + +## Recommended Use Cases + +### Ideal Applications + +**Research Questions Well-Suited:** +1. "How has U.S. purchasing power changed over the past 50 years?" +2. "What is the real (inflation-adjusted) return on investment?" +3. "How does wage growth compare to inflation?" +4. "What is the Federal Reserve's progress toward 2% inflation target?" + +**Analysis Types Supported:** +- Descriptive statistics (inflation rates over time) +- Trend analysis (long-term inflation patterns) +- Real value adjustments (converting nominal to real dollars) +- Policy evaluation (Federal Reserve inflation targeting) + +### Appropriate Contexts + +**Geographic Contexts:** +- U.S. national analysis +- Cross-country comparisons (with Harmonized Indices or equivalent) + +**Temporal Contexts:** +- Long-term trends (1947-present) +- Historical research (especially post-WWII era) +- Month-to-month changes (with seasonal adjustment consideration) + +**Subject Contexts:** +- Purchasing power analysis +- Real wage calculations +- Retirement planning (Social Security COLA) +- Economic policy evaluation + +### Use Warnings + +**Avoid Using This Source For:** +1. **Individual consumption patterns** → Use personal budget tracking +2. **Real estate price inflation** → Use Case-Shiller Home Price Index +3. **Asset price changes** → Use stock indices, bond yields +4. **Immediate/real-time inflation** → Use high-frequency alternative data (Billion Prices Project) +5. **Rural cost of living** → No rural CPI available + +**Recommended Alternatives For:** +- Federal Reserve policy → PCE Price Index (Fed's preferred measure) +- Producer/wholesale prices → Producer Price Index (PPI) +- Import/export prices → Import/Export Price Indices +- Wage earner specific → CPI-W (Urban Wage Earners and Clerical Workers) + +--- + +## Citation + +### Preferred Citation Format + +**APA 7th:** +U.S. Bureau of Labor Statistics. (2025). *Consumer Price Index for All Urban Consumers: All Items in U.S. City Average* [CPIAUCSL]. Federal Reserve Bank of St. Louis. Retrieved October 25, 2025, from https://fred.stlouisfed.org/series/CPIAUCSL + +**Chicago 17th:** +U.S. Bureau of Labor Statistics. "Consumer Price Index for All Urban Consumers: All Items in U.S. City Average (CPIAUCSL)." Federal Reserve Bank of St. Louis, FRED. Accessed October 25, 2025. https://fred.stlouisfed.org/series/CPIAUCSL. + +**MLA 9th:** +U.S. Bureau of Labor Statistics. *Consumer Price Index for All Urban Consumers: All Items in U.S. City Average*. FRED, Federal Reserve Bank of St. Louis, 2025, fred.stlouisfed.org/series/CPIAUCSL. + +**Vancouver:** +U.S. Bureau of Labor Statistics. Consumer Price Index for All Urban Consumers: All Items in U.S. City Average (CPIAUCSL) [Internet]. St. Louis: Federal Reserve Bank of St. Louis, FRED; 2025 [cited 2025 Oct 25]. Available from: https://fred.stlouisfed.org/series/CPIAUCSL + +**BibTeX:** +```bibtex +@misc{bls_cpi_2025, + author = {{U.S. Bureau of Labor Statistics}}, + title = {Consumer Price Index for All Urban Consumers: All Items in U.S. City Average (CPIAUCSL)}, + year = {2025}, + publisher = {Federal Reserve Bank of St. Louis, FRED}, + url = {https://fred.stlouisfed.org/series/CPIAUCSL}, + note = {Accessed: 2025-10-25} +} +``` + +### Data Citation Principles + +Following FORCE11 Data Citation Principles: +- **Importance:** CPI is citable research output; cite in publications using inflation-adjusted values +- **Credit and Attribution:** Citations credit BLS for data collection, FRED for aggregation +- **Evidence:** Citations enable readers to verify inflation adjustments +- **Unique Identification:** FRED series ID (CPIAUCSL) + access date for exact reproducibility +- **Access:** Citation provides direct access method (URL) +- **Persistence:** FRED maintains stable URLs; archived through Internet Archive +- **Specificity and Verifiability:** Series ID and date range ensure exact reproducibility +- **Interoperability:** Citation format compatible with reference managers +- **Flexibility:** Adaptable to various research outputs + +--- + +## Version History + +### Current Version +- **Version:** Continuous monthly series +- **Date:** 1947-01 to present +- **Changes:** Monthly additions; base period 1982-1984 = 100 + +### Previous Versions +- **Base Period Changes:** 1967 = 100 (historical), 1982-1984 = 100 (current) + +--- + +## Review Log + +### Internal Reviews +- **Date:** 2025-10-25 | **Reviewer:** Substrate Data Curation | **Status:** Approved | **Notes:** Initial catalog entry; comprehensive evaluation completed + +### Quality Checks +- **Last Metadata Validation:** 2025-10-25 +- **Last Authority Verification:** 2025-10-25 +- **Last Link Check:** 2025-10-25 +- **Last Access Test:** 2025-10-25 (CSV download tested successfully) + +--- + +## Related Resources + +### Cross-References + +**Related Substrate Entities:** +- **Problems:** + - Inflation volatility + - Wage erosion + - Cost-of-living measurement +- **Solutions:** + - Monetary policy frameworks + - Index-linked financial instruments + - Real wage adjustments +- **Organizations:** + - Bureau of Labor Statistics + - Federal Reserve System + - Federal Reserve Bank of St. Louis +- **Other Data Sources:** + - DS-00002: U.S. GDP (Real GDP for output measurement) + - Future: PCE Price Index (Federal Reserve's preferred inflation measure) + +**External Resources:** +- **Alternative Sources:** + - PCE Price Index: https://fred.stlouisfed.org/series/PCEPI + - Producer Price Index: https://www.bls.gov/ppi/ +- **Complementary Sources:** + - Consumer Expenditure Survey: https://www.bls.gov/cex/ + - Real Earnings: https://www.bls.gov/news.release/realer.htm +- **Source Comparison Studies:** + - Boskin Commission Report (1996): "Toward a More Accurate Measure of the Cost of Living" + - Academic research on CPI vs. PCE differences + +### Additional Documentation + +**User Guides:** +- BLS CPI Home Page: https://www.bls.gov/cpi/ +- FRED Series Page: https://fred.stlouisfed.org/series/CPIAUCSL + +**Research Using This Source:** +- Millions of citations in economic research +- Federal Reserve policy analysis +- Social Security COLA calculations + +**Methodology Papers:** +- BLS Handbook of Methods, Chapter 17 (Consumer Price Index) +- Boskin Commission Report (1996) + +--- + +## Cataloger Notes + +**Internal Notes:** +- Excellent source; highest authority; essential for Substrate economic domain +- CSV download simple and reliable +- Consider adding PCE Price Index as complement (Federal Reserve's preferred measure) +- CPI-W (wage earners) available as alternative series if needed + +**To Do:** +- [ ] Add related organizations (BLS, Federal Reserve) +- [ ] Cross-reference with relevant Problems and Solutions +- [ ] Consider adding metropolitan area CPIs for geographic granularity + +**Questions for Review:** +- Should we catalog PCE Price Index separately? +- How to handle base period changes in long-term analysis documentation? + +--- + +**END OF SOURCE RECORD** diff --git a/Data/US-Inflation/update.log b/Data/US-Inflation/update.log new file mode 100644 index 0000000..3fb7543 --- /dev/null +++ b/Data/US-Inflation/update.log @@ -0,0 +1,29 @@ +[2025-10-25T00:47:05.861Z] === Update Started === +[2025-10-25T00:47:05.861Z] Source: U.S. Consumer Price Index (CPI-U) +[2025-10-25T00:47:05.861Z] Source ID: DS-00003 +[2025-10-25T00:47:05.861Z] Checking source availability... +[2025-10-25T00:47:05.861Z] Source is available +[2025-10-25T00:47:05.861Z] Fetching Monthly CPI-U (CPIAUCSL) data... +[2025-10-25T00:47:05.861Z] Monthly CPI-U (CPIAUCSL) schema validation passed +[2025-10-25T00:47:05.861Z] Monthly CPI-U (CPIAUCSL) first record: 1947-01-01,21.480 +[2025-10-25T00:47:05.861Z] Monthly CPI-U (CPIAUCSL) last record: 2025-09-01,324.368 +[2025-10-25T00:47:05.861Z] Monthly CPI-U (CPIAUCSL) latest CPI value: 324.368 +[2025-10-25T00:47:05.861Z] Monthly CPI-U (CPIAUCSL): 945 records retrieved +[2025-10-25T00:47:05.861Z] Performing data quality checks... +[2025-10-25T00:47:05.861Z] Quality checks passed +[2025-10-25T00:47:05.861Z] Saving data file... +[2025-10-25T00:47:05.861Z] CPI data saved to: /Users/daniel/Library/Mobile Documents/com~apple~CloudDocs/Projects/Substrate/Data/US-Inflation/CPI-US-Monthly-1947-2025.csv +[2025-10-25T00:47:05.861Z] Updating source record... +[2025-10-25T00:47:05.861Z] Source record updated +[2025-10-25T00:47:05.861Z] +Update Summary: +- Timestamp: 2025-10-25T00:47:05.861Z +- Availability: OK +- Data Quality: PASSED +- Monthly Records: 945 +- Latest CPI Value: 324.368 +- File Size: 17.13 KB +- Date Range: 1947-01 to present + +[2025-10-25T00:47:05.861Z] Checking for git repository... +[2025-10-25T00:47:05.861Z] Git repository detected - committing changes...