When you hear that CPI rose 3% last month, that single number drives a lot of decisions: Federal Reserve rate moves, your Social Security adjustment next year, the interest on certain Treasury bonds, ...

You don't need an economics degree to notice inflation. You feel it at the checkout line when your usual grocery run costs noticeably more than it did a year ago. You feel it at the gas station, at ...

I asked the artificial intelligence platform ChatGPT to explain CPI to me like I am 12. I also ask it how understanding the report could save me money.