Consumer Price Index

What is Consumer Price Index ? A measure used for estimation of price changes in a basket of goods and services in an economy is called Consumer Price Index. It is a statistical estimate constructed using the prices of sample of representative items whose prices are collected periodically.  Where CPI are used ? Measuring Retail Inflation in the economy by collecting the change in prices of most common goods and services used by consumers. Called market basket, CPI is calculated for a fix...