CPI and Inflation WSJ Article

To measure the average price level of items that consumers actually buy, the Bureau of Labor and Statistics use the

• Gross Domestic Product

• Unemployment Rate

• Consumer Price Index

• National Production Rate

Consumer-price index rose ____% in the year ended March 2021

• 2.6

• 2.5

• 0.5

• 0.6

According to the article, the consumer price index measures....

According to the article, the price of gasoline jumped _____% from February to March 2021

• 0.5

• 9.1

• 0.6

According to the article, two reasons for the increase in inflation and the CPI are....

Economists forecast real U.S. gross domestic product will grow at a seasonally adjusted annual rate of ____% in the second quarter.

• 0.6

• 8.1

• 2.6

The article uses the term "Real GDP". Using context from today's article and video, predict what "Real GDP" means.

According to the article, list two categories of household goods where we can expect rising prices in the near future due to rising production costs.

According to the article, what are economists predicting for inflation rates for the rest of the year?

If inflation rates continue to rise, the Federal Reserve will respond by...

• lowering interest rates to borrow money

• raising interest rates to borrow money

• doing nothing