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Consumer Price Index (CPI)
Definition: The CPI is a consumer-level index designed to measure pure price change of a fixed market basket of goods and services, representative of the purchases of a typical urban consumer. CPI is classified among the economy-wide indicators which are the broadest measures of productive activity and record the result for an entire economy.
The Core CPI is calculated in the same manner as the CPI but it excludes items with high volatility such …