Consumer Price Index & Inflation
Consumer Price Index
Market Basket & Consumer Price Index
The typical "Market Basket" contains a fixed list of items to track Inflation . To calculate this by varying prices from things purchased month to month which that indicates overall price change
Inflation is the increase in prices & fall in the purchasing value of money
Consumer Price Index (CPI) is used to calculate inflation by using the equation which you divide the change in price level by the beginning price level and multiply that by 100.
A healthy rate of inflation is from 2 to 5 percent
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