CPI: Education and Communication in U.S. City Average
Why Use This Data Source In Your Models?
The Consumer Price Index (CPI) for Education and Communication in U.S. City Average is an important measure for monitoring changes in the costs associated with education and communication services across urban areas in the United States. This index tracks price fluctuations for a range of services, including tuition, textbooks, telephone services, and internet access. It reflects broader trends influenced by technological advancements, policy changes, and economic conditions.
CPI: Education and Communication in U.S. City Average
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Suggested Treatment:
Grain Transformation:
Source:
U.S. Bureau of Labor Statistics
Release:
Consumer Price Index
Units:
Index Dec 1997=100, Seasonally Adjusted
Frequency:
Monthly
Available Through:
04/30/2025
Suggested Treatment:
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Yeo Johnson variable will also perform well.
Grain Transformation:
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Auto Correlation Analysis:
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Further differencing is reccommended
Trend Analysis:
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.46 p-value = 0.01 indicates that the data is not stationary.
Distribution Analysis:
The Shapiro-Wilk test returned W = 0.93 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 0.46 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.04 with a p-value of 0.04 inidcates the data is multimodal
Statistics (Pearson P/ df, lower => more normal)
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal Impact
Seasonal and Trend Decompostion
Citation:
U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: Education and Communication in U.S. City Average [CPIEDUSL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CPIEDUSL, July 11, 2024.
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