Which organization publishes the CPI in the United States? How is CPI monitored in the Philippines?
Answer (2)
The Bureau of Labor Statistics (BLS) is the agency that publishes the Consumer Price Index (CPI) in the United States. The BLS is part of the U.S. Department of Labor and is responsible for collecting, analyzing, and sharing economic data related to labor, prices, employment, and inflation.While this may not directly apply to the Philippines, it’s important to understand how different countries monitor inflation. In our country, a similar role is played by the Philippine Statistics Authority (PSA). Every month, the PSA releases data on CPI and inflation rates. This information is used by the Bangko Sentral ng Pilipinas (BSP) and other policymakers to make decisions about things like interest rates, salary adjustments, and government programs.For example, if the PSA reports that CPI has risen sharply, it might mean that the prices of basic goods like rice, electricity, or cooking oil have increased. In response, the BSP might raise interest rates to reduce inflation.Understanding that national statistics offices play a critical role in measuring inflation helps students appreciate how data influences decisions that affect their families' daily lives.
The Consumer Price Index (CPI) in the United States is published by the U.S. Bureau of Labor Statistics (BLS).In the Philippines, the CPI is monitored by the Philippine Statistics Authority (PSA). The PSA collects price data regularly from various markets across the country to track changes in the prices of a fixed basket of goods and services, which reflects the inflation rate and cost of living.
