The consumer price index is probably the most widely used measure of inflation. Changes i n the index affect the incomes of a substantial portion of the U.S. population. This report provides background information on the history and concepts of the index. In addition, several factors which may produce biases in the index are analyzed. The objective is to provide an introduction to the CPI f o r the policy maker who wishes to acquire a working knowledge of the concept as an aid in examining economic policy alternatives.
The 1970 Acts require the executive branch to submit the reports on the further development of urban growth policy, the location of Federal facilities, acceleration of the availability of government services and financial assistance (among other subjects) in support of rural community development. This report should assist in the evaluation of these submissions received from the President and executive departments and agencies. The report's basic purpose is to place individual legislative actions in the larger context of interrelated national urban and rural development objectives set forth by the Congress. The basic content of this report consists of three major components. The first summarizes 1970 legislative developments at both the State and Federal levels of government concerning contributions being made toward the development of a balanced national growth policy for the United States. The second component describes the actions taken by Congressional committees and the Congress in the first session of the 92nd Congress (1971). The final component is a detailed annotated summary of the published literature of urban and rural development made available in 1971.