Economic data
Read inflation measures, release schedules, reference periods and revisions. Each guide includes a worked example and links to its related tool.
12 of 12 guides
CPI index levels, monthly inflation and annual inflation
Distinguish an index level from a percentage change and avoid mixing monthly, annual and seasonally adjusted series.
Read an economic calendar: release time, reference period and revisions
Build a reliable release note by separating publication time, the period measured and revisions to earlier observations.
Headline and core inflation: read the basket before comparing
A headline price measure covers its defined overall basket.
Inflation base effects: a lower rate can coexist with rising prices
A positive inflation rate means the selected price index rose over the comparison period.
Nominal and real GDP: separate price from quantity
Nominal output uses current prices; a real measure adjusts for price changes.
Participation and employment-population ratios answer different questions
Labor-force participation compares the labor force with the relevant population.
Payroll jobs and employed people are not interchangeable
BLS produces employment measures from the establishment survey and the household survey.
A policy target range, its midpoint and an observed rate
A policy target range is a pair of boundaries.
PPI and CPI: different price perspectives, not a fixed pipeline
US PPI and CPI differ in scope, price perspective and construction.
Quarterly GDP growth: what an annualized rate means
BEA commonly reports quarterly GDP growth at annual rates.
Trade balances: exports, imports and sign conventions
A trade balance is commonly presented as exports minus imports for a defined scope and period.
Why the unemployment rate can fall without more employment
The unemployment rate measures unemployed people as a share of the labor force, not as a share of the entire population.