The consumer price index is an economic statistic used to measure the price changes of
one good or a group of goods from one year to the next, or from one month to the next.
The group of items that is being measured normally consists of four hundred goods and
services that a typical family of four would consume, which is referred to as the market
basket. The market basket is subdivided into six categories, each of which is assigned a
different weight of importance towards the countries total CPI. …
