Wednesday, February 16, 2011

How To Intrepret Bureau of Labor Stats For Dummies Like Me

The producer price index for goods rose 0.8 and is on track to go up 5% annually. This number is a little harder to manipulate than tomorrows "Consumer Price Index."

So, today I clicked on the Bureau's website. I read this government legalese and I clipped it. Rather than you getting an aneurysm trying to read it, allow me to interpret it for you.

We are from the government. We are going to try to rig a new method of calculating CPI so that we can manipulate the numbers because we all know that telling the unvarnished truth pisses you little saps off- and that in turn angers our political bosses and the FED. We should all just try to get along. For the stubborn.


Announcement

  • New BLS Report series: Focus on Prices and Spending
  • PPI Introduces Experimental Aggregation System
  • On February 14, 2011, the Producer Price Index (PPI) of the Bureau of Labor Statistics (BLS) is introducing an Experimental Aggregation system. This Experimental Aggregation system takes advantage of PPI’s expansion of coverage over the last twenty years to include portions of the services and construction sectors by combining indexes for those sectors with the currently highlighted goods sector indexes. This new system is a model that greatly expands PPI coverage of the United States economy. A webpage describing this new aggregation system will be added to the BLS Website. It includes links to methodological documentation, relative importance figure tables, and instructions for accessing historical data from the BLS Website. This webpage will be located at www.bls.gov/ppi/experimentalaggregation.htm . In addition, effective with the release of data for January 2011, the Experimental Aggregation indexes will be published in tables 10 through 15 of the monthly PPI Detailed Report. (See http://www.bls.gov/ppi/ppi_dr.htm.) Since this new aggregation system is experimental, PPI is soliciting feedback from users with respect to methodology and data. To provide feedback, contact Jonathan Weinhagen by email at weinhagen.jonathan@bls.gov or by phone at (202) 691-7709. Further information also is available from the PPI Section of Index Analysis and Public Information, at ppi-info@bls.gov or (202) 691-7705.

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Brian said...

Good stuff.

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