Review:
Consumer Price Index (cpi)
overall review score: 4.2
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score is between 0 and 5
The Consumer Price Index (CPI) is a measure that examines the average change in prices paid by consumers for goods and services over time.
Key Features
- Inflation indicator
- Basis for adjusting wages and pensions
- Used by policymakers to make economic decisions
Pros
- Provides insights into inflation trends
- Helps individuals and businesses make financial decisions
- Important tool for economic analysis and policy making
Cons
- May not accurately reflect individual spending patterns
- Does not capture all aspects of cost of living for specific groups