Government agencies compile and track prices on a multitude of products from various sources. Dramatic price swings help economists determine who may be influenced and how the overall economy may be affected.
Price changes on certain products tend to affect a larger portion of the population more so than other products. Over the past year, the cost of health insurance has climbed over 18%, affecting nearly everyone paying for health coverage. However, the increase in baby food of 5.8% over the same period is limited to younger familtes across the country.
Televisions, dresses, and eggs saw formidable price drops over the past year, affecting a more concentrated group of consumers.
Source: Bureau of Labor Statistics
