what are the uses of C.P.I ( 5 uses)
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The consumer price index is mainly used to measure inflation over a given period of time. It can also be leveraged to determine the cost of living. CPI is mainly used to determine the efficacy of economic policies.
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The CPI measures the changes in the purchasing power of a country's currency. For example, a USD/CAD rate of 1.25 means 1 US dollar is equivalent to 1.25 Canadian dollars. The USD/CAD exchange rate is affected by economic and political forces on both, and the price level of a basket of goods and services.
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