If 51 percent of all goods in the consumer price index (cpi) became more expensive and 49 percent became cheaper?

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frannymolfino2706 frannymolfino2706

03-08-2022
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If 51 percent of all goods in the consumer price index (cpi) became more expensive and 49 percent became cheaper?

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smecloudbird17 smecloudbird17 · Answer 1 · 2022-08-14T09:53:32+02:00

If 51 percent of all goods in the Consumer Price Index (CPI) became more expensive and 49 percent became cheaper then inflation or deflation could occur.

Inflation refers to an increase in the overall price level where goods becoming expensive. By calculating changes in a measure called the Consumer Price Index (CPI), the official inflation rate is tracked. Thus, the CPI tracks changes in the cost of living over time.

The CPI is the most commonly referenced index in the U.S. The economy is experiencing deflation when the change in prices in one period is lower than the next. This reveals that the CPI index has declined.

Hence, depending upon the changes in the economy, inflation or deflation could occur.

To learn more about Consumer Price Index (CPI) here:

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