#INTRODUCTION This dashboard shows how the Consumer Price Index (CPI)—an economic measure tracking price changes paid by urban consumers for a basket of goods and services—varies globally and regionally. It examines historical CPI data across countries to illustrate inflation trends over time and economic cycles. The dashboard is organized into three main sections: CPI Over Time, Regional Comparison, and Global CPI snapshotExclude
#DATA SOURCE - Data Source: World Bank. (2021). Consumer Price Index (CPI) Data. Retrieved from https://data.worldbank.org/
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## layoutPLOT 1 - In this section, we analyze the trend of the CPI in the U.S., using a line chart to illustrate year-over-year CPI changes and shifts in consumer prices over time. Key Insights: This trend reveals inflationary periods and economic downturns. Significant spikes or drops can align with macroeconomic events like financial crises, policy shifts, or other economic changes. Coding Explanation: The code filters data for the U.S. to create a CPI line chart over time. The filter() function isolates U.S. data, while ggplot() and geom_line() build the line plot that tracks yearly changes.
PLOT 2 This section compares CPI trends across selected economies (U.S., Canada, Germany, China, and Japan) using a line plot that allows for a multi-country comparison over time. Key Insights: Comparing CPI trends across countries reveals regional differences in inflation rates. Developed economies like the U.S. and Germany may show more stable trends, whereas rapidly growing economies like China may exhibit distinct patterns. Coding Explanation: The code filters data to the five countries, using filter() and ggplot() with geom_line() to produce a multi-line plot. Each country is color-coded, allowing users to visually compare CPI trends and observe each country’s response to global economic pressures.
PLOT - 3 This section provides a global snapshot of CPI data for 2010, with each bar representing a country’s CPI level. This view reveals global consumer price levels at a specific point in time. Key Insights: High CPI levels in 2010 could indicate rapid economic growth or inflationary factors, whereas low CPI might signal stable or deflationary conditions. Coding Explanation: The code filters data to 2010 and orders countries by CPI using reorder() for a bar chart, helping users see how consumer price levels varied across regions that year.
This dashboard provides a broad view of CPI trends, enabling exploration of global, regional, and country-level data. The CPI, a key economic indicator, reflects inflation trends and economic health. By comparing CPI across countries and time, the dashboard offers insights into how economies experience shifts in consumer prices