The goal of the consumer price index is to measure changes in the
A)costs of production.
B)cost of living.
C)relative prices of consumer goods.
D)production of consumer goods.

Question

Quizplus · Accepted Answer

The consumer price index (CPI) measures changes in the cost of living by tracking the prices of a basket of goods and services commonly purchased by households. This includes items like food, housing, transportation, and healthcare. The CPI is used to determine inflation and adjust wages, pensions, and government benefits for cost-of-living increases.

The Goal of the Consumer Price Index Is to Measure