Free trade is rapidly expanding the world marketplace, providing new opportunities to raise living standards and stimulate long-term economic growth. To capitalize on these opportunities, the United States must overcome problems that reduce its competitiveness, such as regulations that distort...

The consumer price index (CPI) is probably the most closely watched indicator of inflation in the U.S. economy. In this article, Mark Wynne and Fiona Sigalla explain the construction of the CPI and evaluate some of its potential shortcomings as a measure of inflation. Specifically, they examine...