ECONOMICS
INFLATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Consumer Price Index
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Market Basket
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Cost-push Inflation
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Demand-pull Inflation
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Detailed explanation-1: -The Consumer Price Index (CPI) is a measure of the average change overtime in the prices paid by urban consumers for a market basket of consumer goods and services.
Detailed explanation-2: -The producer price index, which measures the cost of a basket of goods and services bought by firms rather than consumers. This index is a leading indicator of future price increases for consumers.
Detailed explanation-3: -The Consumer Price Index (CPI) consists of a family of indexes that measure price change experienced by urban consumers. Specifically, the CPI measures the average change in price over time of a market basket of consumer goods and services. The market basket includes everything from food items to automobiles to rent.
Detailed explanation-4: -The most well-known indicator of inflation is the Consumer Price Index (CPI), which measures the percentage change in the price of a basket of goods and services consumed by households.