Tracking inflation is a vital component of the Fed's monetary policy, but closely watched measures such as the Consumer Price Index (CPI) don't necessarily capture your experience with inflation. Indeed, individual changes in the cost of living are based in part on what we buy. And what we buy, in turn, varies across demographic characteristics such as age, income, and education level.
A free ECONversations webcast on September 23 from 2:00–2:30 p.m. (ET) will explore the connections between the cost of living and inflation and will discuss how individuals experience inflation. Tune in as Atlanta Fed economist Brent Meyer demonstrates how a new tool called myCPI can help you track changes in your cost of living by using a market basket that more closely reflects your spending habits. The tool also allows you to compare your personal CPI to the national average.
The Atlanta Fed's ECONversations webcast series presents updates on economic and policy issues and offers the public the opportunity to ask questions of Fed experts. Click here to learn more and to register for "The Inflation Experience: A Conversation about the Cost of Living."