Answer (numbers indicate how many times that item was mentioned):

To ask:

If you were asked this question, what price increases have you noticed in your life? What do all orange marked items have in common? What impact does inflation have on family budgets?

Here are the ready-made slides for this question of the day that you can use in your classroom.

Behind the Numbers (Yahoo republished NY Times article)

The undue importance of food ties in with research into how people shape their view of inflation. “It’s more important what households often buy, rather than what has a larger share of spending,” said Michael Weber, a professor of finance at the University of Chicago. That’s probably because people have more exposure to items they often buy, and it’s easier to remember their price changes, he said.

That means the price of a carton of eggs can influence consumers’ inflation impression more than the cost of a new refrigerator to put them in.

Here are all the NGPF resources available with our enhanced search feature.

NGPF has a “Guess the CPI Inflation game” where winning classrooms receive $100 gift cards. Here are last month’s winners. Look for new contest to open soon!

About the author

Tim Ranzetta

Tim’s savings habits started at 7 a.m. when a neighbor with a broken hip gave him a dog walking job. Her recovery, which lasted nearly a year, led to Tim getting to know the bank clerks quite well (and building a savings account balance of over $300!). His recent entrepreneurial adventures include driving a chipper, analyzing compensation packages for Fortune 500 companies, and helping families make better college funding decisions. After volunteering in 2010 to establish a personal finance program and teach at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him. to start a new nonprofit, Next Gen Personal Finance. †

This post Question of the Day: In a recent survey, consumers were asked to identify specific items that they noticed had increased in price. Can you name one of the top five items?

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