What does wr represent in consumer price index
Dear Student
The Consumer Price Index (CPI) is a measure of average or weighted average prices of a basket of goods and services, such as transportation, food , groceries and medical care. It is calculated by taking change of price for each item in the goods basket and averaging them. Changes in the CPI are used to assess price changes associated with the cost of living . The CPI is one of the most frequently used statistics for measuring inflation and deflation .
Regards .
The Consumer Price Index (CPI) is a measure of average or weighted average prices of a basket of goods and services, such as transportation, food , groceries and medical care. It is calculated by taking change of price for each item in the goods basket and averaging them. Changes in the CPI are used to assess price changes associated with the cost of living . The CPI is one of the most frequently used statistics for measuring inflation and deflation .
Regards .