Consumer price index = $\frac{Price of basket of goods and services in base year}{Price of basket in current year}$ *100.

Question

Quizplus · Accepted Answer

The formula for the Consumer Price Index (CPI) is: CPI = (Price of basket of goods and services in base year / Price of basket in current year) * 100. This formula measures the change in the price of a basket of goods and services over time, and is used to track inflation.

Consumer Price Index = PriceofbasketofgoodsandservicesinbaseyearPriceofbasketincurrentyear\frac{Price of basket of goods and services in base year}{Price of basket in current year}PriceofbasketincurrentyearPriceofbasketofgoodsandservicesinbaseyear​

Consumer Price Index = $\frac{Price of basket of goods and services in base year}{Price of basket in current year}$