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81-506: Crosman was incorporated in 1924 as Crosman Rifle Company , after the sale of "Crosman Brothers" to Frank Hahn. The firm was based in Fairport, New York , a suburb of Rochester (from the print on the bottom of free vintage targets available as a pdf on the company's website). In 1960 it was acquired by Bangor Punta Corp. In 1970, the company moved to a small town in the finger lakes region, East Bloomfield . Crosman's first models were

162-401: A Powerlet . The new Powerlet gave more shots per bulb than the soda bulb, and with the addition of a simple spacer, a Powerlet gun could use the shorter 8 gram bulb. A Powerlet cartridge, commonly referred to as a CO 2 charger, is a small disposable metal gas cylinder holding 8–12 grams (0.28–0.42 oz) of liquid CO 2 and often a small quantity of lubricating oil , used as

243-517: A pneumatic power source for certain air guns , airsoft guns , paintball guns , carbonation , and for quick inflation of various devices such as a personal flotation device . Originally developed and the trademark owned by Crosman Corporation and introduced to the market in 1954, the Powerlet CO 2 cartridge has become the dominant source of power for inexpensive, rapid fire air guns from many manufacturers. Typically manufactured from

324-880: A Village Administrator with responsibility for directing Village operations, including those of the Fairport Municipal Commission and for serving as budget director, zoning officer and public safety officer. Serving under the Village Administrator and appointed by the mayor with Board of Trustees approval, are the clerk/treasurer, deputy clerk, deputy treasurer and building inspector/fire marshal. Fairport Central School District oversee public education. Schools in Fairport include Brooks Hill Elementary School, Johanna Perrin Middle School and Minerva Deland. Fairport owns and operates

405-468: A currency devaluation has on the price of goods. Other economic concepts related to inflation include: deflation  – a fall in the general price level; disinflation  – a decrease in the rate of inflation; hyperinflation  – an out-of-control inflationary spiral; stagflation  – a combination of inflation, slow economic growth and high unemployment; reflation  – an attempt to raise

486-585: A dollar in exchange for assets worth at least a dollar, the issuing bank's assets will naturally move in step with its issuance of money, and the money will hold its value. Should the bank fail to get or maintain assets of adequate value, then the bank's money will lose value, just as any financial security will lose value if its asset backing diminishes. The real bills doctrine (also known as the backing theory) thus asserts that inflation results when money outruns its issuer's assets. The quantity theory of money, in contrast, claims that inflation results when money outruns

567-572: A great deal of money fighting costly wars , and reacted by printing more money, leading to inflation. Fearing the inflation that plagued the Yuan dynasty, the Ming dynasty initially rejected the use of paper money, and reverted to using copper coins. During the Malian king Mansa Musa 's hajj to Mecca in 1324, he was reportedly accompanied by a camel train that included thousands of people and nearly

648-579: A hundred camels. When he passed through Cairo , he spent or gave away so much gold that it depressed its price in Egypt for over a decade, reducing its purchasing power. A contemporary Arab historian remarked about Mansa Musa's visit: Gold was at a high price in Egypt until they came in that year. The mithqal did not go below 25 dirhams and was generally above, but from that time its value fell and it cheapened in price and has remained cheap till now. The mithqal does not exceed 22 dirhams or less. This has been

729-501: A municipal power corporation, Fairport Electric. Incorporated in 1901, Fairport Electric provides electric power to its customers at lower rates than those charged by neighboring utilities. Fairport Electric has purchased power from the New York Power Authority since 1961. Inflation Heterodox In economics , inflation is a general increase in the prices of goods and services in an economy . This

810-663: A reduction in variation in most macroeconomic indicators – an event known as the Great Moderation . Alexander the Great's conquest of the Persian Empire in 330 BCE was followed by one of the earliest documented inflation periods in the ancient world. Rapid increases in the quantity of money or in the overall money supply have occurred in many different societies throughout history, changing with different forms of money used. For instance, when silver

891-411: A rise (or fall) in the expected inflation rate will typically result in a rise (or fall) in nominal interest rates, giving a smaller effect if any on real interest rates . In addition, higher expected inflation tends to be built into the rate of wage increases, giving a smaller effect if any on the changes in real wages . Moreover, the response of inflationary expectations to monetary policy can influence

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972-433: A rising price level within a narrower set of assets, goods or services within the economy, such as commodities (including food, fuel, metals), tangible assets (such as real estate), services (such as entertainment and health care), or labor . Although the values of capital assets are often casually said to "inflate," this should not be confused with inflation as a defined term; a more accurate description for an increase in

1053-479: A weighting bias in inflation measurement. For example, during the COVID-19 pandemic it has been shown that the basket of goods and services was no longer representative of consumption during the crisis, as numerous goods and services could no longer be consumed due to government containment measures ("lock-downs"). Over time, adjustments are also made to the type of goods and services selected to reflect changes in

1134-448: Is 4.28%, meaning the general level of prices for typical U.S. consumers rose by approximately four percent in 2007. Other widely used price indices for calculating price inflation include the following: Other common measures of inflation are: ∴ GDP Deflator = Nominal GDP Real GDP {\displaystyle {\mbox{GDP Deflator}}={\frac {\mbox{Nominal GDP}}{\mbox{Real GDP}}}} In some cases,

1215-698: Is a village located in the town of Perinton , which is part of Monroe County , New York , United States. Fairport is a suburb 9 miles (14 km) east of Rochester . It is also known as the "crown jewel of the Erie Canal". The population of the Village of Fairport was 5,501 as of the 2020 census. The town of Perinton was first settled in the two flat areas of Perinton Center (Turk Hill and Ayrault Roads) and Egypt. The first settlers in Perinton were Glover Perrin, his wife Johanna and his brother Jesse. What

1296-535: Is absorbed every time a shot is discharged, cooling the canister. When discharging repeatedly, the temperature within the Powerlet canister can drop low enough to affect the vapor-liquid equilibrium and reduce the vapor pressure significantly. The drop in output pressure (known as the " working pressure") not only can affect the ballistic performance, but also can cause the gun to "freeze up" and cease operating completely due to insufficient pneumatic force, until

1377-531: Is also part of the Wellspring portfolio. In June 2017, Wellspring sold Crosman to Compass Diversified Holdings, INC (NYSE: CODI). Upon the sale of the company, Robert Beckwith was appointed the new CEO. Robert had previously been the CFO under Brad Johnson. In May 2024, Crosman was sold to Daisy , which is a portfolio company of BRS & Co . In 1882, Walter R. Benjamin of St. Louis , Missouri , introduced

1458-511: Is broader than the CPI and contains a larger basket of goods and services. Inflation is politically driven, and policy can directly influnce the trend of inflation. The RPI is indicative of the experiences of a wide range of household types, particularly low-income households. To illustrate the method of calculation, in January 2007, the U.S. Consumer Price Index was 202.416, and in January 2008 it

1539-605: Is land and 0.1 square miles (0.26 km ) is water. The total area is 3.09% water. Although officially the name of only the village, "Fairport" is often used to refer to a large portion of the encompassing Town of Perinton as well. Both the Fairport Central School District and Fairport zip codes overlap closely with the borders of the Town of Perinton . As of the census of 2000, there were 5,740 people, 2,369 households, and 1,594 families residing in

1620-430: Is the sum of the weighted prices of items in the "basket". A weighted price is calculated by multiplying the unit price of an item by the number of that item the average consumer purchases. Weighted pricing is necessary to measure the effect of individual unit price changes on the economy's overall inflation. The consumer price index , for example, uses data collected by surveying households to determine what proportion of

1701-403: Is usually measured using a consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation , a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate ,

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1782-633: The Black Death began before the arrival of New World metal, and may have begun a process of inflation that New World silver compounded later in the 16th century. A pattern of intermittent inflation and deflation periods persisted for centuries until the Great Depression in the 1930s, which was characterized by major deflation. Since the Great Depression, however, there has been a general tendency for prices to rise every year. In

1863-399: The base effect as well. Inflation measures are often modified over time, either for the relative weight of goods in the basket, or in the way in which goods and services from the present are compared with goods and services from the past. Basket weights are updated regularly, usually every year, to adapt to changes in consumer behavior. Sudden changes in consumer behavior can still introduce

1944-403: The core inflation index which is used by central banks to formulate monetary policy . Most inflation indices are calculated from weighted averages of selected price changes. This necessarily introduces distortion, and can lead to legitimate disputes about what the true inflation rate is. This problem can be overcome by including all available price changes in the calculation, and then choosing

2025-415: The median value. In some other cases, governments may intentionally report false inflation rates; for instance, during the presidency of Cristina Kirchner (2007–2015) the government of Argentina was criticised for manipulating economic data, such as inflation and GDP figures, for political gain and to reduce payments on its inflation-indexed debt. The true inflation is one percentage point lower than

2106-700: The money supply have taken place a number of times in countries experiencing political crises, producing hyperinflations  – episodes of extreme inflation rates much higher than those observed in earlier periods of commodity money . The hyperinflation in the Weimar Republic of Germany is a notable example. The hyperinflation in Venezuela is the highest in the world, with an annual inflation rate of 833,997% as of October 2018. Historically, inflations of varying magnitudes have occurred, interspersed with corresponding deflationary periods, from

2187-494: The opportunity cost of holding money, uncertainty over future inflation, which may discourage investment and savings, and, if inflation were rapid enough, shortages of goods as consumers begin hoarding out of concern that prices will increase in the future. Positive effects include reducing unemployment due to nominal wage rigidity , allowing the central bank greater freedom in carrying out monetary policy , encouraging loans and investment instead of money hoarding, and avoiding

2268-584: The price revolution of the 16th century, which was driven by the flood of gold and particularly silver seized and mined by the Spaniards in Latin America, to the largest paper money inflation of all time in Hungary after World War II. However, since the 1980s, inflation has been held low and stable in countries with independent central banks . This has led to a moderation of the business cycle and

2349-547: The velocity of money because of innovations in the payment technology, in particular the increased use of bills of exchange , contributed to the price revolution. An alternative theory, the real bills doctrine (RBD), originated in the 17th and 18th century, receiving its first authoritative exposition in Adam Smith 's The Wealth of Nations . It asserts that banks should issue their money in exchange for short-term real bills of adequate value. As long as banks only issue

2430-925: The 1970s and early 1980s, annual inflation in most industrialized countries reached two digits (ten percent or more). The double-digit inflation era was of short duration, however, inflation by the mid-1980s returned to more modest levels. Amid this, general trends there have been spectacular high-inflation episodes in individual countries in interwar Europe , towards the end of the Nationalist Chinese government in 1948–1949, and later in some Latin American countries, in Israel, and in Zimbabwe. Some of these episodes are considered hyperinflation periods, normally designating inflation rates that surpass 50 percent monthly. Given that there are many possible measures of

2511-555: The Bank of England had engaged in over-issue of bank notes, leading to commodity price increases. In the late 19th century, supporters of the quantity theory of money led by Irving Fisher debated with supporters of bimetallism . Later, Knut Wicksell sought to explain price movements as the result of real shocks rather than movements in money supply, resounding statements from the real bills doctrine. In 2019, monetary historians Thomas M. Humphrey and Richard Timberlake published "Gold,

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2592-489: The Cowboy, a youth-oriented lever action . In the 1930s, Crosman began to experiment with CO 2 power. Like other CO 2 guns of the day, they were bulk fill , which meant that liquid CO 2 was loaded into a pressurized reservoir on the gun. Other manufacturers started to use 8 gram CO 2 bulbs used in soda dispensers. Crosman capitalized on this in 1954 by introducing a new 12 gram CO 2 bulb, called

2673-481: The Latin inflare (to blow into or inflate). Conceptually, inflation refers to the general trend of prices, not changes in any specific price. For example, if people choose to buy more cucumbers than tomatoes, cucumbers consequently become more expensive and tomatoes less expensive. These changes are not related to inflation; they reflect a shift in tastes. Inflation is related to the value of currency itself. When currency

2754-704: The Real Bills Doctrine, and the Fed: Sources of Monetary Disorder 1922–1938". John Maynard Keynes in his 1936 main work The General Theory of Employment, Interest and Money emphasized that wages and prices were sticky in the short run, but gradually responded to aggregate demand shocks. These could arise from many different sources, e.g. autonomous movements in investment or fluctuations in private wealth or interest rates. Economic policy could also affect demand, monetary policy by affecting interest rates and fiscal policy either directly through

2835-542: The Town of Perinton reside within both the Fairport Central School District and the Fairport postal district; as a result, it is common for Perinton residents to describe their place of residence as "Fairport" even if they live outside of the village. According to the United States Census Bureau , the village has a total area of 1.6 square miles (4.1 km ), of which 1.6 square miles (4.1 km )

2916-522: The actual rate of inflation that most recently occurred. Rational expectations models them as unbiased, in the sense that the expected inflation rate is not systematically above or systematically below the inflation rate that actually occurs. A long-standing survey of inflation expectations is the University of Michigan survey. Inflation expectations affect the economy in several ways. They are more or less built into nominal interest rates , so that

2997-411: The age of 18, 53.4% were married couples living together, 10.7% had a female householder with no husband present, and 32.7% were non-families. 27.0% of all households were made up of individuals, and 7.9% had someone living alone who was 65 years of age or older. The average household size was 2.42 and the average family size was 2.96. In the village, the population was spread out, with 25.2% under

3078-468: The age of 18, 6.1% from 18 to 24, 31.8% from 25 to 44, 25.1% from 45 to 64, and 11.8% who were 65 years of age or older. The median age was 38 years. For every 100 females, there were 92.4 males. For every 100 females age 18 and over, there were 91.1 males. The median income for a household in the village was $ 53,375 and the median income for a family was $ 65,980. Males had a median income of $ 50,094 v. $ 30,431 for females. The per capita income for

3159-668: The annualized percentage change in a general price index . As prices faced by households do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose. Changes in inflation are widely attributed to fluctuations in real demand for goods and services (also known as demand shocks , including changes in fiscal or monetary policy ), changes in available supplies such as during energy crises (also known as supply shocks ), or changes in inflation expectations, which may be self-fulfilling. Moderate inflation affects economies in both positive and negative ways. The negative effects would include an increase in

3240-556: The canister warms back up again. This causes a problem due to the rapid-fire nature of many competitive paintball skirmishes, so the high-pressure air (HPA, or "N 2 ") systems are more commonly used. In 2004, Crosman introduced a new disposable CO 2 power source, the 88 gram AirSource. - 766 American Classic 1-3 Includes Variants* Crosman has manufactured and sold the Benjamin-Sheridan and Sheridan model airguns for many years. These models are still made to

3321-466: The company. Pickett was named CEO and held that position until his death in 2000. Ken D'Arcy served as CEO from 1997 to 2012. In 2011, Wellspring Capital Management purchased Crosman and in August 2012 Phil Dolci was named CEO and served until May 2015. Brad Johnson was named as Executive Chairman and Interim CEO while remaining Chairman & CEO of United Sporting Companies, a separate company that

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3402-601: The construction of railroads in 1853. This now booming section of Perrinsville was incorporated as a village on April 30, 1867 and eventually became the center of activity for the town of Perinton. In the 19th century industry moved into Fairport, including Deland Chemical (baking soda), Cobb Preserving (the predecessor to American Can ), and the Trescott Company (fruit grading and packing systems). Deland Chemical later became Fairport Vinegar Works, makers of Certo brand pectin used to gel and preserve foodstuffs. In

3483-482: The core inflation rate to get a better estimate of long-term future inflation trends overall. The inflation rate is most widely calculated by determining the movement or change in a price index, typically the consumer price index . The inflation rate is the percentage change of a price index over time. The Retail Prices Index is also a measure of inflation that is commonly used in the United Kingdom. It

3564-430: The course of a year, with no change in quality, then this price difference represents inflation. This single price change would not, however, represent general inflation in an overall economy. Overall inflation is measured as the price change of a large "basket" of representative goods and services. This is the purpose of a price index , which is the combined price of a "basket" of many goods and services. The combined price

3645-784: The credibility of money in the present. In the 19th century, the banking schools had greater influence in policy in the United States and Great Britain, while the currency schools had more influence "on the continent", that is in non-British countries, particularly in the Latin Monetary Union and the Scandinavian Monetary Union . During the Bullionist Controversy during the Napoleonic Wars , David Ricardo argued that

3726-649: The division of the effects of policy between inflation and unemployment (see monetary policy credibility ). Theories of the origin and causes of inflation have existed since at least the 16th century. Two competing theories, the quantity theory of money and the real bills doctrine , appeared in various disguises during century-long debates on recommended central bank behaviour. In the 20th century, Keynesian , monetarist and new classical (also known as rational expectations ) views on inflation dominated post-World War II macroeconomics discussions, which were often heated intellectual debates, until some kind of synthesis of

3807-499: The early 20th century, the Erie Canal was expanded and renamed the Barge Canal. (It reverted to its original name in 1992). Barge transportation rapidly declined as automobiles and trucks became popular. The town began to expand away from the canal. The Erie Canal is now used mainly for recreation. Fairport acquired its name in the mid-19th century from a traveler on the Erie Canal who was overheard at Mallett's Tavern referring to

3888-556: The economy's production of goods. During the 19th century, three different schools debated these questions: The British Currency School upheld a quantity theory view, believing that the Bank of England 's issues of bank notes should vary one-for-one with the bank's gold reserves. In contrast to this, the British Banking School followed the real bills doctrine, recommending that the bank's operations should be governed by

3969-658: The first Benjamin air rifle. These Benjamin Pump guns were manufactured by the Wissler Instrument Co. of St. Louis under a U.S. patent that had been issued to Benjamin. Unlike many air guns of this period, the Benjamin was intended not as a toy, but as a high-power compressed air gun in which pressure was built up by pumping a built-in piston located beneath the barrel. The Benjamin Air Rifle Company

4050-480: The general level of prices to counteract deflationary pressures; and asset price inflation  – a general rise in the prices of financial assets without a corresponding increase in the prices of goods or services; agflation  – an advanced increase in the price for food and industrial agricultural crops when compared with the general rise in prices. More specific forms of inflation refer to sectors whose prices vary semi-independently from

4131-461: The general trend. "House price inflation" applies to changes in the house price index while "energy inflation" is dominated by the costs of oil and gas. Inflation has been a feature of history during the entire period when money has been used as a means of payment. One of the earliest documented inflations occurred in Alexander the Great 's empire 330 BCE . Historically, when commodity money

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4212-429: The government could issue more coins without increasing the amount of silver used to make them. When the cost of each coin is lowered in this way, the government profits from an increase in seigniorage . This practice would increase the money supply but at the same time the relative value of each coin would be lowered. As the relative value of the coins becomes lower, consumers would need to give more coins in exchange for

4293-596: The higher quality standards of the originals, with wood stocks and primarily brass and steel components. The Sheridan line is strictly 5 mm (.20 caliber), while the Benjamin-Sheridan models are available in .177 (4.5 mm, .22 (5.56 mm), .25 (6.4 mm) and .357 (9.0 mm) calibers, depending on model. • NRA Museums: Benjamin history • Blue Book of Airgun Values – BENJAMIN AIR RIFLE COMPANY (BENJAMIN) BENJAMIN AIR RIFLE COMPANY BACKGROUND Benjamin History Fairport, New York Fairport

4374-409: The inefficiencies associated with deflation. Today, some economists favour a low and steady rate of inflation, though inflation is less popular with the general public than with economists, since "...inflation simultaneously transfers some of [the] people’s income into the hands of government." Low (as opposed to zero or negative ) inflation reduces the probability of economic recessions by enabling

4455-456: The labor market to adjust more quickly in a downturn and reduces the risk that a liquidity trap prevents monetary policy from stabilizing the economy while avoiding the costs associated with high inflation. The task of keeping the rate of inflation low and stable is usually given to central banks that control monetary policy, normally through the setting of interest rates and by carrying out open market operations . The term originates from

4536-430: The measures are meant to be more humorous or to reflect a single place. This includes: Measuring inflation in an economy requires objective means of differentiating changes in nominal prices on a common set of goods and services, and distinguishing them from those price shifts resulting from changes in value such as volume, quality, or performance. For example, if the price of a can of corn changes from $ 0.90 to $ 1.00 over

4617-497: The needs of trade: Banks should be able to issue currency against bills of trading, i.e. "real bills" that they buy from merchants. A third group, the Free Banking School, held that competitive private banks would not overissue, even though a monopolist central bank could be believed to do it. The debate between currency, or quantity theory, and banking schools during the 19th century prefigures current questions about

4698-408: The official one, according to research. Therefore, the 2% inflation target is needed to prevent the true inflation being close to zero or even deflation. The reasons are the following: Nevertheless, people overestimate the inflation even vs. the measured inflation. This is because they focus more on commonly-bought items than on durable goods, and more on price increases than on price decreases. On

4779-426: The other hand, different people have different shopping baskets and hence face different inflation rates. Inflation expectations or expected inflation is the rate of inflation that is anticipated for some time in the foreseeable future. There are two major approaches to modeling the formation of inflation expectations. Adaptive expectations models them as a weighted average of what was expected one period earlier and

4860-477: The paintball compared to an airgun projectile . For modern paintball guns, this technology is considered outdated, as they cannot fire as many shots as a modern large-capacity CO 2 tank can provide, though some still use Powerlet cartridges for stock paintball . They are also still favored for paintball pistols, for players wishing to run "light" with considerably less weight. Because liquid CO 2 needs to vaporize to gaseous form to be usable, latent heat

4941-480: The price level, there are many possible measures of price inflation. Most frequently, the term "inflation" refers to a rise in a broad price index representing the overall price level for goods and services in the economy. The consumer price index (CPI), the personal consumption expenditures price index (PCEPI) and the GDP deflator are some examples of broad price indices. However, "inflation" may also be used to describe

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5022-459: The quantity of redeemable banknotes outstripped the quantity of metal available for their redemption. At that time, the term inflation referred to the devaluation of the currency, and not to a rise in the price of goods. This relationship between the over-supply of banknotes and a resulting depreciation in their value was noted by earlier classical economists such as David Hume and David Ricardo , who would go on to examine and debate what effect

5103-413: The same steel alloys and using the same metal spinning fabrication processes as much larger refillable gas cylinders , a Powerlet cartridge typically provides 20 to 40 shots in an airgun, depending on the gun and environmental conditions. The first 10 shots from a new bottle are consistent, with subsequent shots losing power. For paintball markers, fewer shots are produced due to the greater weight of

5184-534: The same goods and services as before. These goods and services would experience a price increase as the value of each coin is reduced. Again at the end of the third century CE during the reign of Diocletian , the Roman Empire experienced rapid inflation. Song dynasty China introduced the practice of printing paper money to create fiat currency . During the Mongol Yuan dynasty , the government spent

5265-521: The second half of the 15th century to the first half of the 17th, Western Europe experienced a major inflationary cycle referred to as the " price revolution ", with prices on average rising perhaps sixfold over 150 years. This is often attributed to the influx of gold and silver from the New World into Habsburg Spain , with wider availability of silver in previously cash-starved Europe causing widespread inflation. European population rebound from

5346-1052: The sorts of goods and services purchased by 'typical consumers'. New products may be introduced, older products disappear, the quality of existing products may change, and consumer preferences can shift. Different segments of the population may naturally consume different "baskets" of goods and services and may even experience different inflation rates. It is argued that companies have put more innovation into bringing down prices for wealthy families than for poor families. Inflation numbers are often seasonally adjusted to differentiate expected cyclical cost shifts. For example, home heating costs are expected to rise in colder months, and seasonal adjustments are often used when measuring inflation to compensate for cyclical energy or fuel demand spikes. Inflation numbers may be averaged or otherwise subjected to statistical techniques to remove statistical noise and volatility of individual prices. When looking at inflation, economic institutions may focus only on certain kinds of prices, or special indices , such as

5427-653: The state of affairs for about twelve years until this day by reason of the large amount of gold which they brought into Egypt and spent there [...]. There is no reliable evidence of inflation in Europe for the thousand years that followed the fall of the Roman Empire, but from the Middle Ages onwards reliable data do exist. Mostly, the medieval inflation episodes were modest, and there was a tendency that inflationary periods were followed by deflationary periods. From

5508-645: The traditional American multi-pump pneumatic design, where 3 to 10 pumps would pressurize a reservoir for each shot. Descendants of these original models are still made, in rifle , pistol and carbine form, and they remain quite popular. In 1992, Crosman acquired the Benjamin Sheridan company's assets. From 1971 through 1989, Coleman of Wichita, Kansas owned Crosman. In 1989, MacAndrews & Forbes Holdings of New York acquired Coleman and sold Crosman to Worldwide Sports and Recreation. In 1997, an investment group headed by Leonard Pickett purchased

5589-510: The typical consumer's overall spending is spent on specific goods and services, and weights the average prices of those items accordingly. Those weighted average prices are combined to calculate the overall price. To better relate price changes over time, indexes typically choose a "base year" price and assign it a value of 100. Index prices in subsequent years are then expressed in relation to the base year price. While comparing inflation measures for various periods one has to take into consideration

5670-461: The value of a capital asset is appreciation. The FBI (CCI), the producer price index , and employment cost index (ECI) are examples of narrow price indices used to measure price inflation in particular sectors of the economy. Core inflation is a measure of inflation for a subset of consumer prices that excludes food and energy prices, which rise and fall more than other prices in the short term. The Federal Reserve Board pays particular attention to

5751-429: The various theories was reached by the end of the century. The price revolution from ca. 1550–1700 caused several thinkers to present what is now considered to be early formulations of the quantity theory of money (QTM). Other contemporary authors attributed rising price levels to the debasement of national coinages. Later research has shown that also growing output of Central European silver mines and an increase in

5832-504: The village as a fair port . Local legend has it that the same visitor vociferously complained the next morning that Millstone Block Hotel had bedbugs , and he stormed out of Fairport, never to be seen again. The name, however, stuck. The First Baptist Church of Fairport , Wilbur House , Minerva and Daniel DeLand House , and Henry DeLand House are listed on the National Register of Historic Places . Most residents of

5913-522: The village was $ 29,390. 3.3% of the population and 1.7% of families were below the poverty line . 2.2% of those under the age of 18 and 5.1% of those 65 and older were living below the poverty line. The Village Board is the local legislative body, consisting of the Mayor and four Trustees. Board members are elected in the November general elections and serve a term of four years. The Village Board selects

5994-518: The village. The population density was 3,645.0 inhabitants per square mile (1,407.3/km ). There were 2,431 housing units at an average density of 1,543.7 per square mile (596.0/km ). The racial makeup of the village was 96.99% White , 0.73% African American , 0.12% Native American , 1.03% Asian , 0.00% Pacific Islander , 0.21% from other races , and 0.92% from two or more races. 1.38% of the population were Hispanic or Latino of any race. There were 2,369 households, of which 33.2% had children under

6075-424: Was 211.080. The formula for calculating the annual percentage rate inflation in the CPI over the course of the year is: ( 211.080 − 202.416 202.416 ) × 100 % = 4.28 % {\displaystyle \left({\frac {211.080-202.416}{202.416}}\right)\times 100\%=4.28\%} The resulting inflation rate for the CPI in this one-year period

6156-452: Was developed as the village of Fairport was a swampy area within the Town of Perinton until the 1820s, when it was drained by construction of the new Erie Canal . With the opening of the Canal, what was then known as Perrinsville quickly became a busy canal port with a reputation for being a "fair port." A further boon to the area's reputation as an industry and transportation center came with

6237-657: Was formed in 1902 when Walter R. Benjamin purchased the patent rights from the defunct St. Louis Air Rifle Company. Production from 1902 to 1904 and from 1906 to 1986 was in St. Louis. In 1977, the Benjamin Air Rifle Company purchased Sheridan Products in Racine, Wisconsin . Benjamin and Sheridan were acquired by Crosman in 1992. By 2015, Benjamin was positioned as Crosman Corporation's adult hunting and high performance line and Sheridan had its name on one model:

6318-403: Was linked with gold, if new gold deposits were found, the price of gold and the value of currency would fall, and consequently, prices of all other goods would become higher. By the nineteenth century, economists categorised three separate factors that cause a rise or fall in the price of goods: a change in the value or production costs of the good, a change in the price of money which then

6399-456: Was used as currency, the government could collect silver coins, melt them down, mix them with other, less valuable metals such as copper or lead and reissue them at the same nominal value , a process known as debasement . At the ascent of Nero as Roman emperor in AD 54, the denarius contained more than 90% silver, but by the 270s hardly any silver was left. By diluting the silver with other metals,

6480-399: Was used, periods of inflation and deflation would alternate depending on the condition of the economy. However, when large, prolonged infusions of gold or silver into an economy occurred, this could lead to long periods of inflation. The adoption of fiat currency by many countries, from the 18th century onwards, made much larger variations in the supply of money possible. Rapid increases in

6561-510: Was usually a fluctuation in the commodity price of the metallic content in the currency, and currency depreciation resulting from an increased supply of currency relative to the quantity of redeemable metal backing the currency. Following the proliferation of private banknote currency printed during the American Civil War , the term "inflation" started to appear as a direct reference to the currency depreciation that occurred as

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