The U.S. Department of Labor will report the inflation rate for December on Thursday, and observers expect inflation to cool further after price increases hit their highest point in decades last year.
But some economists and analysts are starting to look past the general consumer price index (CPI), which measures price changes in a basket of goods and services households commonly buy. The basket is supposed to be comprehensive, including goods and services across the economy, but is weighted towards shelter, food, energy, transportation, medical services and education. Instead, economists are studying a narrower slice of price data to get a more accurate picture of what’s happening in the economy.
