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US Senate Assistant Majority Leader Dick Durbin of Illinois gives a news conference to call for an expanded total of 550 USD million in emergency spending for international food assistance to address the global food crisis on April 28, 2008. (GETTY IMAGES)

Each month, the Bureau of Labor Statistics gathers 84,000 prices in about 200 categories — like gasoline, bananas, dresses and garbage collection — to form the Consumer Price Index, one measure of inflation.

It’s among the statistics that the Federal Reserve considered when it cut interest rates on Wednesday. The categories are weighted according to an estimate of what the average American spends.

This is a fun inflation graph from the NYT

Pork, chicken prices may rise in next wave of food inflation


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