Employment Cost Index (ECI)
The ECI is another important measure of inflation. Released at 8:30 am EST on the last Thursday of January, April, July, and November, the ECI measures the cost of labor including wages, benefits, and bonuses. The reason the ECI is thought to be an indicator of inflation is that as wages increase, the added cost is often passed to consumers shortly thereafter in the form of higher prices (inflation). In combination with the productivity report (see below) the ECI can reveal whether the increased cost of labor is justified or not. For the latest report, visit the Bureau of Labor Statistics website.
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