Newsweek’s Daniel Gross explains the Consumer Price Index (here’s the official BLS site) in a very simple video. I could do without the goofy sound effects, but it’s a good, 2 minute explanation of how the government tracks inflation.
Per David Simon’s Berkeley talk, though, the video doesn’t go into why this matters. Perhaps they’ll cover that in the next installment of the Economics 101 series.
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Dan Froomkin, writer for the Washington Post, had an interesting chat on washingtonpost.com. Worth a good read if you want a feel for the various scandals and news items going on in Washington.
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