What is a consumer price index?
A measure of inflation, and a tool to guide central bankers
INFLATION HAS DOGGED societies for centuries. Attempts to measure it properly began in earnest in the 20th century. In 1914 the British government calculated a “working-class cost of living index” to help guide adjustments to the wages of essential workers during the first world war. America’s Bureau of Labour Statistics (BLS) published inflation measures for 32 cities in 1919, and followed up with a national index in 1921. How do such consumer price indices work—and how have they changed over the years?
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The idea of the body count evolves
Why are India and Pakistan fighting over water?
After terror attacks India has suspended a water-sharing treaty
How will mines dropped by drones change warfare?
They make attacks on tanks more precise and troops easier to trap
What do Greenlanders think of being bought?
Donald Trump’s desire for Greenland, and a shabby visit by his son, reignite the independence debate
What would Donald Trump gain from seizing the Panama Canal?
The president-elect claims the crossing is controlled by China and rips off American consumers
Where does Santa come from?
How a miracle-working Greek bishop, Dutch folk figure and early New York icon became the ubiquitous symbol of Christmas