The Consumer Price Index (CPI)describes the change in prices from one time period to another for a fixed "market basket" of goods and services.

Question

Quizplus · Accepted Answer

The statement is true. The CPI is a measure of inflation that tracks the prices of a fixed set of goods and services over time. It is calculated by dividing the cost of the market basket in a given year by the cost of the same basket in a base year, then multiplying by 100. The resulting index shows the percentage change in prices from the base year to the current year.

The Consumer Price Index (CPI)describes the Change in Prices from One