A consumer price index measures changes in

(i) retail prices

(ii) whole sale prices

(iii) producers prices

Open in App

Solution

(i) Consumer Price Index (CPI), also known as the cost of living index, measures the average change in retail prices which show the most accurate impact of price rise on the cost of living of common people.

Suggest Corrections

Similar questions

Which of the following statement(s) is/are correctly stated?

Codes :

Consider the following statements:

1. WPI measure price rise at the wholesale level where wholesale means sale in large quantities and meant for resale.

2.Producer Price Index means the prices of goods as they are sold to the whole sales by the producers.

3. The price of electricity in the CPI is the Industrial tariff & not the consumer tariff.

Response:

The item having the highest weight in consumer price index for industrial workers is

(i) Food

(ii) Housing

(iii) Clothing

A producer price index could measure changes in_____.

Join BYJU'S Learning Program