BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Consumer Price Input
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Consumer Price Index
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Consumer Product Index
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Customer Price Index
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Detailed explanation-1: -THE ALL GROUPS CPI rose 1.9% over the twelve months to the December quarter 2017, compared with a rise of 1.8% over the twelve months to the September quarter 2017.
Detailed explanation-2: -Chained inflation averaged 1.76% per year between 2016 and 2017, a total inflation amount of 1.76%. According to the Chained CPI measurement, $1 in 2016 is equal in buying power to $1.02 in 2017, a difference of $0.02 (versus a converted amount of $1.02/change of $0.02 for All Items).
Detailed explanation-3: -The dollar had an average inflation rate of 3.38% per year between 2017 and today, producing a cumulative price increase of 22.05%. This means that today’s prices are 1.22 times as high as average prices since 2017, according to the Bureau of Labor Statistics consumer price index.
Detailed explanation-4: -In 2022, CPI hit the highest of 7.79% in Apr, and WPI reached 15.88% in May. Compared to inflation in Jan. 2020, CPI is down 1.09%, whereas WPI is up 1.72%.