A consumer price index measures changes in

(i) retail prices

(ii) wholesale prices

(iii) producers prices

Open in App

Solution

A consumer price index measures changes in retail prices.

Consumer Price Index (CPI) is used to measure changes in the cost of living in which the retail prices of consumer goods and services are obtained. It measures the average changes in the retail prices.

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:

(I) The change in any price is reflected in an index number.

(II) The wholesale price index can be used to measure the monetary and real value of national income and expenditure.

A producer price index could measure changes in_____.

Join BYJU'S Learning Program