Jordan Blum, Houston Chronicle Published 7:39 am, Monday, June 25, 2018 Photo: TEDDY BLACKBURN / REUTERS Image 1of/1 CaptionClose Image 1 of 1 Fill your tank. Fill your tank. Photo: TEDDY BLACKBURN / REUTERS June dip in fuel prices coming to an end 1 / 1 Back to Gallery Fuel prices fell again last week, continuing a June trend, but rising oil prices are now expected to undo the decline. Gasoline prices fell nearly 5 cents a gallon last week in the Houston metro area, down to an average of $2.64 for a gallon of regular unleaded, while the national average dipped more than 5 cents to $2.83 a gallon. However, crude oil prices spiked Friday and continued rising Monday morning after OPEC reached a compromise on just modest oil production increases, bringing a degree of stability back into the global market. That … [Read more...] about June dip in fuel prices coming to an end
National consumer price index
ECONOMICS can be a baffling science, and sometimes one where even the "experts" don't seem to know what they're on about. Most recently in economic news it was revealed UK inflation rose to its highest level in nearly six years, with some commentators putting this down to Brexit. But what actually is inflation? What is inflation? Inflation is defined as a general increase in prices and fall in the purchasing value of money. If inflation is 10 per cent, a handbag costing £50 will be priced at £55 in a years time. Whilst that sounds relatively simple, it is in fact one of the most important aspects of economics. It has a massive impact on peoples wages and buying power which can really affect families bank balances. Inflation is also what the Bank of England uses as a guide when it is setting interest rates. The current UK interest rate has risen to 3.1 per cent - its highest level since 2011. How is it measured? Inflation is measured by the Office of National … [Read more...] about What is inflation, how is it measured and what effect does it have on prices and the economy?
By Collin Eaton Updated 5:30 am, Monday, May 21, 2018 Photo: Mark Mulligan, Staff Photographer / Mark Mulligan / Houston Chronicle Image 1of/1 CaptionClose Image 1 of 1 Lanes of Interstate 10, with the Katy Managed Lanes in the center, stretch out looking east toward downtown from the entrance ramp to the southbound Sam Houston Tollway on July 19, 2017. Lanes of Interstate 10, with the Katy Managed Lanes in the center, stretch out looking east toward downtown from the entrance ramp to the southbound Sam Houston Tollway on July 19, 2017. Photo: Mark Mulligan, Staff Photographer / Mark Mulligan / Houston Chronicle Rising prices could hit global demand, execs say 1 / 1 Back to Gallery Over the past few years, energy executives, analysts and oil ministers fretted about low oil prices. Now, with prices holding above $70 … [Read more...] about Rising prices could hit global demand, execs say
JEREMY Corbyn’s plan to nationalise the railways won’t stop ticket prices going up – one of his biggest allies has said. Shadow Transport Secretary Andy McDonald said the policy wasn’t about “freezing or reducing” the cost of travelling by train. He said Labour would instead “substitute” the measure of inflation which is used to set annual train fare hikes to the cheaper Consumer Price Index – currently running at 2.3 per cent. Mr McDonald told Sky News: “It’s not about freezing or reducing fares but substituting the Retail Price Index every year with the lower rate of inflation. “That will be bring about very significant savings for people. “As wages rise, people would find them much more affordable and much more within their reach than now.” Chief Inspector Jenny Gilmer's statement on the deaths of Rubina Khar and her 10-year-old boy on the railway tracks at Slough station MOST READ IN … [Read more...] about Jeremy Corbyn’s plan to nationalise the railways won’t stop ticket prices going up, warns Labour ally
Many studies use data on health care costs from multiple time periods. To make costs comparable over time, researchers often use an inflation index to translate previous years costs to current dollars. The first question is, what inflation indices are available to make this adjustment. A paper by Dunn et al. (2018) reviews the potential indexes and makes some suggestions. Overall Inflation Gross domestic product (GDP) implicit price deflator. Created by the Bureau of Economic Advisors (BEA), this adjust based on inflation in the overall economy. Consumer Price Index (CPI). Created prepared by the Bureau of Labor Statistics (BLS) and the Personal Consumption Expenditures, this metric looks at the prices of goods and services consumed by household. The CPI for urban consumers (CPI-U) measures changes in prices for a bundle of over 200 products and services. CPI price change estimates are generally higher than PCE, likely because CPI is a … [Read more...] about Which inflation index should I use? ” Healthcare Economist