Construct Consumer Price Index Number with the help of the following data-Consumer Items Price Weight Food 125 40 Fuel 120 10 Cloth 66-67 25 House Rent 120 15 Miscellaneous 150 10

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Standard XI

Statistics

Consumer Price Index

Construct Con...

Question

Construct Consumer Price Index Number with the help of the following data:

Consumer Items Price Weight

Food
Fuel
Cloth
House Rent
Miscellaneous 125
120
66.67
120
150 40
10
25
15
10

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Solution

Items Price
(P) Weights
(W) PW

Food
Fuel
Cloth
House rent
Miscellaneous 125
120
66.67
120
150 40
10
25
15
10 5000
1200
16 66.75
1800
1500

$Σ W = 100$ $Σ W = 11166.75$

Consumer price index
$= \frac{\sum P W}{\sum W} = \frac{111 66.75}{100} = 111.67$

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Q. From the data given below construct the consumer price index number:

Commodity	Price Relatives	Weights
Food	250	45
Rent	150	15
Clothing	320	20
Fuel and Lighting	190	5
Miscellaneous	300	15

Q. From the following data find Consumer Price Index or Cost of Living Index:

Items	Quantity Consumed in Current Year	Price in Base year	Price in Current Year
Rice Pulses Oil Clothing Housing Miscellaneous	30 qt 36 kg 24 l 72 metres per month per month	12 0.4 1.5 0.75 20 20	25 0.6 2.2 10 30 15

Q. Calculate consumer price index number for the following data by aggregate expenditure and family budget Method.

Expenses	Weights	Price (in ₹) Base Year	Price (in ₹) Current year
Food	45	300	350
Rent	20	200	225
Fuel	8	100	110
Clothing	10	150	175
Misc.	17	250	300

Calculate the cost of living index number from the following data :

The monthly per capita expenditure incurred by workers for an industrial centre during 1980 and 2005 on the following items are given below. The weights of these items are 75, 10, 5, 6 and 4 respectively. Prepare a weighted index number for cost of living for 2005 with 1980 as the base.

Items	Price in 1980	Price in 2005
Food	100	200
Clothing	20	25
Fuel and Lighting	15	20
House rent	30	40
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Consumer Items	Price	Weight
Food Fuel Cloth House Rent Miscellaneous	125 120 66.67 120 150	40 10 25 15 10

Items	Price (P)	Weights (W)	PW
Food Fuel Cloth House rent Miscellaneous	125 120 66.67 120 150	40 10 25 15 10	5000 1200 16 66.75 1800 1500




		$Σ W = 100$	$Σ W = 11166.75$

Construct Consumer Price Index Number with the help of the following data: Consumer Items Price Weight Food Fuel Cloth House Rent Miscellaneous 125 120 66.67 120 150 40 10 25 15 10

Items Price (P) Weights (W) PW Food Fuel Cloth House rent Miscellaneous 125 120 66.67 120 150 40 10 25 15 10 5000 1200 16 66.75 1800 1500 ΣW =100 ΣW =11166.75 Consumer price index =∑PW∑W=111 66.75100=111.67

Construct Consumer Price Index Number with the help of the following data:

Consumer Items Price Weight

Food
Fuel
Cloth
House Rent
Miscellaneous 125
120
66.67
120
150 40
10
25
15
10

Items Price
(P) Weights
(W) PW

Food
Fuel
Cloth
House rent
Miscellaneous 125
120
66.67
120
150 40
10
25
15
10 5000
1200
16 66.75
1800
1500

$Σ W = 100$ $Σ W = 11166.75$

Consumer price index
$= \frac{\sum P W}{\sum W} = \frac{111 66.75}{100} = 111.67$