The Consumer Price Index (CPI) is a statistical measure of inflation in the economy

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The Consumer Price Index is a measure of inflation that tracks the prices of a basket of goods and services purchased by households over time.

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The CPI is used to track inflation, which is the rate at which the overall level of prices for goods and services is rising.

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Inflation can have a significant impact on the economy, affecting interest rates, wages, and the cost of living

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High inflation can lead to a decrease in purchasing power, as the same amount of money buys fewer goods and services.

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The Consumer Price index is calculated using a complex formula that takes into account the prices of goods and services purchased by households.

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The formula is based on the Laspeyres price index, which is a measure of the cost of a fixed basket of goods and services over time.

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