Consumer Price Index Shows the Increase in Cost of Living
The Consumer Price Index shows a 4.1% increase from December 2006 to December 2007
The Bureau of Labor Statistics publishes the Consumer Price Index. This reflects the changes in prices from month to month and year to year. The table covers nearly a century and reflects changes in the value of dollars over time. (Remember $.99 gas?) To view the Consumer Price Index Table, click on: ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt.
Dover Baptist Association leaders have historically used the changes in the index to suggest appropriate cost of living increases for its staff members. For example, the CPI increased 2.5% from December 2005 to December 2006. When association leaders drafted the 2008 budget, their recommendation reflected that increase. From 2006 to 2007 the Consumer Price Index increased 4.1%, the largest percentage increase since 1989-1990.
Director of Missions Steve Allsbrook encourages every Dover church to consider changes in the cost of living when preparing its personnel budget. As inflation increases the cost of living over time, churches that adjust staff salaries to keep pace with the cost of living treat their staff members well. Those churches may also benefit from having more realistic personnel budgets when adding or replacing staff members.
