The Consumer Price Index and the ‘Median CPI’

The broadest measure of consumer price change is the Consumer Price Index for All Urban Consumers (CPI-U), published each month by the U.S. Bureau of Labor Statistics (BLS). Shortly after the publication of the CPI, the Federal Reserve Bank of Cleveland publishes its ‘median CPI’. This article summarizes the difference between these two measures of retail inflation

Writing an Escalation Contract Using the Consumer Price Index

[Excerpt] Each year thousands of people write contracts with escalation clauses that are tied to the Consumer Price Index (CPI). Escalation contracts call for an increase in some type of payment in the event of an increase in prices. These contracts are used in a wide variety of ways, from adjusting rent prices to adding cost-of-living adjustments to alimony payments and wage contracts. Unfortunately, many escalation contracts tied to the CPI are vague. For example, a contract may stipulate that “the Consumer Price Index (CPI) be used to escalate an apartment rent, but the Bureau of Labor Statistics (BLS) publishes thousands of CPIs each month, so a more carefully worded contract could minimize ambiguity and the likelihood of future disputes. This issue of BEYOND THE NUMBERS can help those who use the CPI to write escalation clauses to create a more comprehensive contract

A Reconciliation between the Consumer Price Index and the Personal Consumption Expenditures Price Index

The Bureau of Labor Statistics (BLS) prepares the Consumer Price Index for All Urban Consumers (CPI-U), and the Bureau of Economic Analysis prepares the Personal Consumption Expenditures (PCE) chain-type price index. Both indexes measure the prices paid by consumers for goods and services. Because the two indexes are based on different underlying concepts, they are constructed differently, and tend to behave differently over time. From the first quarter of 2002 through the second quarter of 2007, the CPI-U increased 0.4 percentage point per year faster than the PCE price index. This paper details and quantifies the differences in growth rates between the CPI-U and the PCE price index; it provides a quarterly reconciliation of growth rates for the 2002:Q1- 2007:Q2 time period. There are several factors that explain the differences in growth rates between the CPI and the PCE price index. First, the indexes are based on difference index-number formulas. The CPI-U is based on a Laspeyres index; the PCE price index is based on a Fisher-Ideal index. Second, the relative weights assigned to the detailed item prices in each index are different because they are based on different data sources. The weights used in the CPIU are based on a household survey, while the weights used in the PCE price index are based on business surveys. Third, there are scope differences between the two indexes— that is, there are items in the CPI-U that are out-of-scope of the PCE price index, and there are items in the PCE price index that are out-of-scope of the CPI-U. And finally, there are differences in the seasonal-adjustment routines and in the detailed price indexes used to construct the two indexes. Over the 2002:Q1-2007:Q2 time period, this analysis finds that almost half of the 0.4 percentage point difference in growth rates between the CPI-U and the PCE price index was explained by differences in index-number formulas. After adjusting for formula differences, differences in relative weights—primarily “rent of shelter”—more than accounted for the remaining difference in growth rates. Net scope differences, in contrast, partly offset the effect of relative weight differences.

Synthesis and Characterization of the k^2-acac-O,O Complex Os_(IV)(acac)_2PhCl and Study of CH Activation with Benzene

We have synthesized and fully characterized the air-stable complex (κ^2-acac-O,O)2Os^(IV)(Ph)Cl (Cl-1-Ph; acac-O,O = acetylacetonate), which reacts with C_6D_6 to generate Cl-1-Ph-d_5 in high yield and catalyzes the H/D exchange reaction between benzene and toluene-d_8 upon heating to 140 °C. To our knowledge, this is the first example of stoichiometric and catalytic, homogeneous, intermolecular CH activation of arenes by a discrete Os complex. The reactions show extended induction periods. DFT studies of Cl-1-Ph and cis-(κ^2-acac-O,O)_2Os^(III)(C_6H_5)(C_6D_6) (cis-(C_6D_6)-2-Ph) found a mechanism involving CH activation by traces of Os(III) and Cl atom transfer between Cl-1-Ph and cis-(C_6D_6)-2-Ph. Experimental data showing that addition of reductants eliminates the induction periods suggest that CH activation occurs from an oxidation state lower than Os^(IV), consistent with the DFT predictions. Consistent with a Cl atom transfer mechanism, the triflate analogue of Cl-1-Ph, OTf-1-Ph, does not undergo a stoichiometric or catalytic reaction with C_6D_6

Feasibility trial evaluation of a physical activity and screen-viewing course for parents of 6 to 8 year-old children : Teamplay

Background: Many children spend too much time screen-viewing (watching TV, surfing the internet and playing video games) and do not meet physical activity (PA) guidelines. Parents are important influences on children’s PA and screen-viewing (SV). There is a shortage of parent-focused interventions to change children’s PA and SV. Methods: Teamplay was a two arm individualized randomized controlled feasibility trial. Participants were parents of 6–8 year old children. Intervention participants were invited to attend an eight week parenting program with each session lasting 2 hours. Children and parents wore an accelerometer for seven days and minutes of moderate-to-vigorous intensity PA (MVPA) were derived. Parents were also asked to report the average number of hours per day that both they and the target child spent watching TV. Measures were assessed at baseline (time 0) at the end of the intervention (week 8) and 2 months after the intervention had ended (week 16). Results: There were 75 participants who provided consent and were randomized but 27 participants withdrew post-randomization. Children in the intervention group engaged in 2.6 fewer minutes of weekday MVPA at Time 1 but engaged in 11 more minutes of weekend MVPA. At Time 1 the intervention parents engaged in 9 more minutes of weekday MVPA and 13 more minutes of weekend MVPA. The proportion of children in the intervention group watching ≥ 2 hours per day of TV on weekend days decreased after the intervention (time 0 = 76%, time 1 = 39%, time 2 = 50%), while the control group proportion increased slightly (79%, 86% and 87%). Parental weekday TV watching decreased in both groups. In post-study interviews many mothers reported problems associated with wearing the accelerometers. In terms of a future full-scale trial, a sample of between 80 and 340 families would be needed to detect a mean difference of 10-minutes of weekend MVPA. Conclusions: Teamplay is a promising parenting program in an under-researched area. The intervention was acceptable to parents, and all elements of the study protocol were successfully completed. Simple changes to the trial protocol could result in more complete data collection and study engagement

Experimental realization of catalytic CH_4 hydroxylation predicted for an iridium NNC pincer complex, demonstrating thermal, protic, and oxidant stability

A discrete, air, protic, and thermally stable (NNC)Ir(III) pincer complex was synthesized that catalytically activates the CH bond of methane in trifluoroacetic acid; functionalization using NaIO_4 and KIO_3 gives the oxy-ester

Parental modelling, media equipment and screen-viewing among young children : cross-sectional study

Objective: To examine whether parental screenviewing, parental attitudes or access to media equipment were associated with the screen-viewing of 6-year-old to 8-year-old children. Design: Cross-sectional survey. Setting: Online survey. Main outcome: Parental report of the number of hours per weekday that they and, separately, their 6- year-old to 8-year-old child spent watching TV, using a games console, a smart-phone and multiscreen viewing. Parental screen-viewing, parental attitudes and pieces of media equipment were exposures. Results: Over 75% of the parents and 62% of the children spent more than 2 h/weekday watching TV. Over two-thirds of the parents and almost 40% of the children spent more than an hour per day multiscreen viewing. The mean number of pieces of media equipment in the home was 5.9 items, with 1.3 items in the child’s bedroom. Children who had parents who spent more than 2 h/day watching TV were over 7.8 times more likely to exceed the 2 h threshold. Girls and boys who had a parent who spent an hour or more multiscreen viewing were 34 times more likely to also spend more than an hour per day multiscreen viewing. Media equipment in the child’s bedroom was associated with higher TV viewing, computer time and multiscreen viewing. Each increment in the parental agreement that watching TV was relaxing for their child was associated with a 49% increase in the likelihood that the child spent more than 2 h/day watching TV. Conclusions: Children who have parents who engage in high levels of screen-viewing are more likely to engage in high levels of screen-viewing. Access to media equipment, particularly in the child’s bedroom, was associated with higher levels of screen-viewing. Family-based strategies to reduce screen-viewing and limit media equipment access may be important ways to reduce child screen-viewing