11. Which item has the highest weight in
Consumer Price Index ?
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4
Answer:
They are weighted this way: Housing: 41.4%, Food and Beverage: 17.4%, Transport: 17.0%, Medical Care: 6.9%, Other: 6.9%, Apparel: 6.0%, Entertainment: 4.4%. Taxes (43%) are not included in CPI computation.
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Answer:
The item that has the highest weight in the consumer price index is food.
Consumer Price Index(CPI) is different from the Wholesale Price Index(WPI) measures the changes in the prices of consumer goods and services which are purchased by households.
It is usually calculated by most national statistical agencies and the annual percentage change in CPI is mostly used for measuring the level of inflation.
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