Consumer price index numbers are obtained by:

Laspeyre's formula

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Fisher ideal formula

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Marshall Edgeworth formula

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Paasche's formula

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Solution

The correct option is C Laspeyre's formula
CPI figures for most countries are usually calculated by using a Laspeyre's Index or Lowe Index.

The CPI calculated via a Paasche index, helps give an idea of what today basket would have cost at yesterday prices.
Answer. (A)

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

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Explain four limitations of consumer price index numbers.

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