The CPI is an economic indicator most frequently used for identifying the periods of inflation.
Basically, prices rise over time, but prices can also fall. The most well-known indicator of inflation is the Consumer Price Index (CPI), which measures the percentage change in the price of a basket of goods and services consumed.
It is calculated by taking price changes for each item in the basket of goods and averaging them. Changes in the CPI are used to assess price changes associated with the cost of living.
Changes in the CPI reflect price changes in the economy. When there is an upward change in the CPI, this means there has been an increase in the average change in prices over time.
Learn more about the CPI here ;-
https://brainly.com/question/15072299
#SPJ2
