Labor Compensation: Unit Labor Cost: Manufacturing: Total for Canada
Annual
LCULMN01CAA661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.57
Year-over-Year Change
9.02%
Date Range
1/1/1961 - 1/1/2017
Summary
The Annual trend measures the percent change in the cost of living over a 12-month period. It is a key economic indicator used to track inflation and assess the purchasing power of consumers.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Annual trend represents the year-over-year percent change in the Consumer Price Index (CPI), a widely used measure of inflation. It is closely monitored by policymakers, economists, and the public to understand the overall cost of living and can inform decisions around monetary policy, consumer spending, and personal finance.
Methodology
The CPI data used to calculate the Annual trend is collected monthly by the U.S. Bureau of Labor Statistics through surveys of consumer expenditures.
Historical Context
The Annual trend is a vital input for the Federal Reserve's monetary policy decisions and can impact interest rates, investment strategies, and household budgets.
Key Facts
- The Annual trend reached a 40-year high of 9.1% in June 2022.
- The Federal Reserve aims to maintain an annual inflation rate of around 2%.
- Rapid increases in the Annual trend can erode consumer purchasing power.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in the Consumer Price Index, which is the government's primary gauge of inflation in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a crucial indicator for understanding the overall cost of living and the purchasing power of consumers. It is closely watched by policymakers, economists, and the public to inform decisions around monetary policy, consumer spending, and personal finance.
Q: How is this data collected or calculated?
A: The data used to calculate the Annual trend is collected monthly by the U.S. Bureau of Labor Statistics through surveys of consumer expenditures.
Q: How is this trend used in economic policy?
A: The Annual trend is a vital input for the Federal Reserve's monetary policy decisions, as it can impact interest rates, investment strategies, and household budgets.
Q: Are there update delays or limitations?
A: The Annual trend data is published monthly with a slight delay, as the underlying CPI data is collected and processed by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Annual (LCULMN01CAA661S), retrieved from FRED.