🎴 Flashcard Mode
CPI and Interest Rates
Card1 / 15
Mastered0
Review0
QuestionClick to flip
What is the Consumer Price Index (CPI)?
AnswerClick to flip back
A
A measure of the average change in prices over time for a basket of goods and services purchased by households.
💡 Explanation:
The CPI is a measure of the average change in prices over time for a basket of goods and services purchased by households. It is used to measure inflation, which is the rate at which prices increase over time.