The next CPI report for May 2023 inflation figures will be released by the BLS (Bureau of Labor Statistics) on June 13 at 8:30 am Eastern time. Using this CPI report of the BLS 

a) Find Consumer Price Index (CPI) of all goods of May 2023, May 2022 and then calculate inflation rate of May 2023 using formula given in the textbook. Show all steps of calculation.

b) Generally, people think that inflation is bad, if you also think it is bad for the economy argue why it is bad ? If you think it is good for the economy when and why it is good.

Answer rating: 100% (QA)

ANSWER Why inflation is bad for the economy Decreased purchasing power High inflation erodes the purchasing power of money as prices rise faster than ... View the full answer