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1 December, 03:51

The inflation rate is measured by calculating the percentage change in the consumer price index. True or False

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  1. 1 December, 04:09
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    true

    Explanation:

    the consumer price index measures the average prices of a basket of goods and services, it includes housing costs, food, medical care, transportation, educational expenses, etc.

    The current price of the CPI basket can be used to measure inflation by comparing it to the price of last year's basket, or if you go a little further, you can compare it to the base year's basket of goods.
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