Price Level

The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Indexes are available for the U.S. and various geographic areas. Average price data for select utility, automotive fuel, and food items are also available.

For much of the 70s inflation was bad. Prices rose at over 10 percent a year. Nothing could stop it — until one powerful person did something very unpopular. Today's show: How we beat inflation.