Podcast
Questions and Answers
True or false:The Bureau of Labor Statistics employs around 450 workers to gather data points for calculating CPI.
True or false:The Bureau of Labor Statistics employs around 450 workers to gather data points for calculating CPI.
True
True or false: CPI measures inflation by tracking the price of selected consumer goods.
True or false: CPI measures inflation by tracking the price of selected consumer goods.
False
True or false: The rate of inflation in June 2021 was the highest since 2008.
True or false: The rate of inflation in June 2021 was the highest since 2008.
True
True or false: COVID-19 has made in-person price checks possible for inflation watchers.
True or false: COVID-19 has made in-person price checks possible for inflation watchers.
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True or false: Inflation can only be tracked for products, not services.
True or false: Inflation can only be tracked for products, not services.
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True or false: Emily Mascitis is an economist with NPR's THE INDICATOR.
True or false: Emily Mascitis is an economist with NPR's THE INDICATOR.
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True or false: The details of tracking prices do not matter when calculating inflation.
True or false: The details of tracking prices do not matter when calculating inflation.
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True or false: THE INDICATOR is a radio show produced by NPR.
True or false: THE INDICATOR is a radio show produced by NPR.
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True or false: The internship opportunity is only available for technical production work.
True or false: The internship opportunity is only available for technical production work.
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True or false: The application deadline for the internship opportunity is provided in the text.
True or false: The application deadline for the internship opportunity is provided in the text.
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Study Notes
- Inflation is a concern for the economy as it means prices are going up at a fast pace.
- The Consumer Price Index (CPI) measures inflation by tracking the price of everything consumers buy.
- The rate of inflation as of June 2021 was 5.4%, the fastest rise since 2008.
- The Bureau of Labor Statistics has around 450 workers who gather millions of data points to calculate the CPI.
- They track prices by surveying thousands of households and checking prices in stores.
- COVID-19 has made in-person price checks impossible, so inflation watchers now make dozens of phone calls a day.
- Inflation can be tracked for both products and services, including day care, haircuts, and workout classes.
- Emily Mascitis, an economist with the Bureau of Labor Statistics, checks the price of butter in a corner store in Philadelphia to ensure accuracy.
- The details matter, and it's important to be precise in tracking prices to calculate inflation accurately.
- The 5.4% inflation rate that caused concern was the result of meticulous data gathering by the Bureau of Labor Statistics.
- THE INDICATOR is a production of NPR
- Michael He is the current intern at THE INDICATOR
- They are looking for an intern for fall and winter
- The internship will be joint with PLANET MONEY
- The intern will work on fact-checking, pitching, and technical production
- Interested candidates can visit npr.org/internships
- No information provided on location or whether it's a paid internship
- No information provided on application deadline
- No information provided on qualifications or requirements
- The text is a call for applications for an internship opportunity at THE INDICATOR and PLANET MONEY.
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