The primary purpose of the Consumer Price Index (CPI) is to measure:
A. Changes in the retail prices of a fixed basket of consumer goods and services
B. Export price competitiveness
C. Producer cost inflation
D. Wholesale market price trends
Answer: Option A
Solution (By JKSSB Mock Tests)
CPI tracks the average price change over time for a representative basket of goods and services purchased by households, serving as the main gauge of consumer inflation.
Explanation:
Natural growth rate = CBR - CDR (per 1,000); overall growth rate includes net migration. Both formulations are used, with B being comprehensive and C focusing on natural increase.
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