The annual price increase for consumer goods and services measured by the Bureau of Labor Statistics is called ________.
A)deflation
B)inflation
C)the consumer price index
D)the price calculator
E)the goods index

Question

Quizplus · Accepted Answer

The Bureau of Labor Statistics measures the annual price increase for consumer goods and services using the Consumer Price Index (CPI). Deflation refers to a decrease in the general price level of goods and services over time, and inflation refers to an increase in the general price level of goods and services over time. The price calculator and goods index are not official measures used by the Bureau of Labor Statistics.

The Annual Price Increase for Consumer Goods and Services Measured