Which of these is included in the consumer price index?
A) price of bauxite
B) price of a hotel room in Beirut, Lebanon
C) price of crude oil
D) price of gasoline

Question

Quizplus · Accepted Answer

The consumer price index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The price of gasoline is included in the CPI as it is a direct consumer expense. Prices of raw materials like bauxite and crude oil are not included because they are not final consumer goods. The CPI typically focuses on goods and services consumed within the country, so a hotel room in Beirut, Lebanon, would not be included unless the CPI in question specifically pertains to Lebanon.

Which of These Is Included in the Consumer Price Index