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Politics : Ask Michael Burke

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To: Les H who wrote (67382)	9/9/1999 9:29:00 AM
From: bill meehan	Read Replies (3) of 132070

Les, you might be interested in the following from the St. Louis Fed's August 1999 "National Economic Trends" talking about changes in how the CPI is calculated: "For example, the BLS now allows for more consumer substitution between CPI item categories. This captures the effect, for example, of gasoline prices rising more than prices for all other goods, which causes consumers to 'substitute' by buying less gasoline and more of all other goods." I know that when I see a big increase in gasoline prices, I always switch to bacon grease. <g>

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