consumer price index flashcards

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what is Consumer price index? The consumer price index is what it cost to purchase goods today compared to the cost of those goods in the past
How is the consumer price index calculated? The consumer price index is calculated by comparing the cost of the typical market basket of goods purchased during a base year with the cost of the same market basket evaluated at current prices.
If the CPI increased from 80 to 84 the rate of inflation is? 5%

what is Consumer price index?

How is the consumer price index calculated?

If the CPI increased from 80 to 84 the rate of inflation is?

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