Question

Find information on the Consumer Price Index for the US and find the comparable index for...

  1. Find information on the Consumer Price Index for the US and find the comparable index for the country you have chosen LIKE INDIA FOR THE MOST RECENT YEARS
  2. Provide the index values for the three most recent years available and note the base year currently used for the index. Discuss the composition of the market basket used in the index.
  3. Provide a clear and full explanation of the material that you present.
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Answer #1

The CPI data for US in 2018 stands at 2.1percent, 2019 at 1.9 percent, 2020 at 2.3 percent. The base year is 1913.

Similarly WPI data for India in 2018 stands at 2.5 percent, 2019 at 2.2 percent, and 2020 at - 3.5 percent. The base year is 1969.

Wpi data accounts for goods at wholeseller level for example, fuel, power, manufacturing products, etc.

while cpi data accounts for both goods and services at retail level eg. Food, education, apparel, housing, etc.

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