A hypothetical basket of commodities associated with breakfast that the folks at Bloomberg track as a gauge of inflation.
Noted brunch blogger, Johnny Cakes, tries to impress his waitress. He tells her that he’d like a meal consisting of coffee, milk, orange juice, cocoa, butter, wheat, sugar, and bacon..."or, the ‘Breakfast Index’ as I’ve named it,” Johnny says with a sly smile. He adds, “and, what is your name, by the way?”
With an exasperated eye roll, Phyllis points to her IHOB nametag and mutters something about “stupid, ineffective rebranding…”
Related or Semi-related Video
Finance: What is the Consumer Price Inde...18 Views
Finance allah shmoop What is the consumer price index or
c p i All right prices They change Five bucks
buys a whole lot less today than it did two
hundred years ago Well here's what Five bucks buys you
today And here's what Five bucks bought you in Seventeen
Ninety three house five horses Nice stuff Well tracking prices
is the key to understanding what inflation is doing in
the world or how much of it we have So
in amalgam of e con experts put together a basket
of goods designed to reflect generally how the average consumer
if there is such a thing feels inflation in their
wallets Will those prices air tracked copiously like monthly ish
and then published as an index number that's evaluated relatively
like if this is last month's cp i which saturday
one hundred seventeen point three two while this month's number
one hundred seventeen point five three shows inflation at a
pace of about two and a half percent annually And
blah blah blah blah So what's in that c p
ay basket that's tracked well there's a bus pass in
a major metro a pound of coffee a half gallon
Carton of milk funeral A flu shot movie tickets And
on and on and on basically all the stuff that 00:01:21.408 --> [endTime] makes life priceless What No
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