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cpi August 2018
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2018-11-20 10:00 AM - Commissioners' Agenda
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cpi August 2018
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Last modified
11/15/2018 12:55:08 PM
Creation date
11/15/2018 12:54:32 PM
Metadata
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Meeting
Date
11/20/2018
Meeting title
Commissioners' Agenda
Location
Commissioners' Auditorium
Address
205 West 5th Room 109 - Ellensburg
Meeting type
Regular
Meeting document type
Supporting documentation
Supplemental fields
Alpha Order
d
Item
Request to Approve a Resolution Authorizing an Option of Renewal between Kittitas County and Summit Food Services
Order
4
Placement
Consent Agenda
Row ID
49352
Type
Contract
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- 7 - <br />resulting seasonal factors, which more accurately represent the seasonal pattern, are then applied to the <br />unadjusted data. <br />For example, this procedure was used for the motor fuel series to offset the effects of the 2009 return to <br />normal pricing after the worldwide economic downturn in 2008. Retaining this outlier data during <br />seasonal factor calculation would distort the computation of the seasonal portion of the time series data <br />for motor fuel, so it was estimated and removed from the data prior to seasonal adjustment. Following <br />that, seasonal factors were calculated based on this “prior adjusted” data. These seasonal factors <br />represent a clearer picture of the seasonal pattern in the data. The last step is for motor fuel seasonal <br />factors to be applied to the unadjusted data. <br />For the seasonal factors introduced in January 2018, BLS adjusted 38 series using intervention analysis <br />seasonal adjustment, including selected food and beverage items, motor fuels, and natural gas. <br />Revision of Seasonally Adjusted Indexes <br />Seasonally adjusted data, including the U.S. city average all items index levels, are subject to revision <br />for up to 5 years after their original release. Every year, economists in the CPI calculate new seasonal <br />factors for seasonally adjusted series and apply them to the last 5 years of data. Seasonally adjusted <br />indexes beyond the last 5 years of data are considered to be final and not subject to revision. In January <br />2018, revised seasonal factors and seasonally adjusted indexes for 2013 to 2017 were calculated and <br />published. For series which are directly adjusted using the Census X-13ARIMA-SEATS seasonal <br />adjustment software, the seasonal factors for 2017 will be applied to data for 2018 to produce the <br />seasonally adjusted 2018 indexes. Series which are indirectly seasonally adjusted by summing <br />seasonally adjusted component series have seasonal factors which are derived and are therefore not <br />available in advance. <br />Determining Seasonal Status <br />Each year the seasonal status of every series is reevaluated based upon certain statistical criteria. Using <br />these criteria, BLS economists determine whether a series should change its status from "not seasonally <br />adjusted" to "seasonally adjusted", or vice versa. If any of the 81 components of the U.S. city average all <br />items index change their seasonal adjustment status from seasonally adjusted to not seasonally adjusted, <br />not seasonally adjusted data will be used in the aggregation of the dependent series for the last 5 years, <br />but the seasonally adjusted indexes before that period will not be changed. Twenty-nine of the 81 <br />components of the U.S. city average all items index are not seasonally adjusted for 2018. <br />Contact Information <br />For additional information about the CPI visit www.bls.gov/cpi or contact the CPI Information and <br />Analysis Section at 202-691-7000 or cpi_info@bls.gov. <br />For additional information on seasonal adjustment in the CPI visit https://www.bls.gov/cpi/seasonal- <br />adjustment/home.htm or contact the CPI seasonal adjustment section at 202-691-6968 or <br />cpiseas@bls.gov. <br />Information from this release will be made available to sensory impaired individuals upon request. <br />Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.
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