Question

how the cosumer price index impact the budget​

Answer 1

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• ᴛʜᴇ ᴘʀɪᴄᴇs ᴏғ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs ғʟᴜᴄᴛᴜᴀᴛᴇ ᴏᴠᴇʀ ᴛɪᴍᴇ, ʙᴜᴛ ᴡʜᴇɴ ᴘʀɪᴄᴇs ᴄʜᴀɴɢᴇ ᴛᴏᴏ ᴍᴜᴄʜ ᴀɴᴅ ᴛᴏᴏ ǫᴜɪᴄᴋʟʏ, ᴛʜᴇ ᴇғғᴇᴄᴛs ᴄᴀɴ sʜᴏᴄᴋ ᴀɴ ᴇᴄᴏɴᴏᴍʏ. ᴛʜᴇ ᴄᴏɴsᴜᴍᴇʀ ᴘʀɪᴄᴇ ɪɴᴅᴇx (ᴄᴘɪ), ᴛʜᴇ ᴘʀɪɴᴄɪᴘᴀʟ ɢᴀᴜɢᴇ ᴏғ ᴛʜᴇ ᴘʀɪᴄᴇs ᴏғ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs, ɪɴᴅɪᴄᴀᴛᴇs ᴡʜᴇᴛʜᴇʀ ᴛʜᴇ ᴇᴄᴏɴᴏᴍʏ ɪs ᴇxᴘᴇʀɪᴇɴᴄɪɴɢ ɪɴғʟᴀᴛɪᴏɴ, ᴅᴇғʟᴀᴛɪᴏɴ ᴏʀ sᴛᴀɢғʟᴀᴛɪᴏɴ.

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Answer 2

Answer:

the consumer price index measures the average change over in prices paid by urban consumers for a representative market basket of goods and services. it is an important economic indicator that tracks changes in the cost of living one time. this uses of the CPI directly affect the income of many American.

the CPI is used to adjust income payments, such as social security benefits; to adjust income eligibility levels for government assistant program; to adjust tax brackets and many features of the individual income tax and to provide cost of living wage adjustment in the private sector.

Explanation:

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