Social Sciences, asked by gurnoor5142, 1 year ago

Which indices are used to calculate inflation?

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Answered by ishita78408

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Answered by writersparadise

Answer:

The Consumer Price Index, commonly known as CPI, is the general measure used for calculating inflation in a country.

Explanation:

It can be simplified as the fall in the purchasing power of a unit of currency of that country.

Measured as a percentage, it is the change in the price of a collection of goods and services commonly used by consumers. The prices of several hundreds of such goods and services are monitored and tracked to arrive at the CPI.

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