During the 1970s and early 1980s it was not uncommon to read that the cost of living had risen by 5, 6.2, 10, or even 13 percent in one year. In the 1980s, reports had it that the cost of living was going up only 1 or 2 percent a year,

The remainder of the topic is as shown below:
and actually falling during some months. More
recently, the cost-of-living numbers have been back into the 2, 3, and 4 percent range. Despite
these reports of gyrations in the so-called “cost-of-living,” there really is no true cost-of-living
index published-at least not one that means what the newspaper and television reporters purport
it to mean. The one that is mostly used is the Consumer Price Index.
Research the Consumer Price Index and compare how your individual situation in terms of the
changes in the prices of the goods and services that you use, compared to changes in the
Consumer Price Index?
The subject is Macroeconomics, the paper should be written within APA standards
The textbook is Macroeconomics
, Principles, Problems, and Policies 22nd edition, by Campbell R.
McConnell, Stanley L. Brue, and Sean M. Flynn, 2015, McGraw-Hill Erwin Publishers.