What is CPI? | Consumer Price Index | From A Business Professor

Description

Imagine a shopping cart loaded with everything from milk to movie tickets, representing what you and your community buy. The Consumer Price Index, or CPI, is like a yardstick that measures how much this cart's contents cost now compared to before. It's a snapshot of our economic climate, showing us the pulse of inflation. So What exactly is CPI? How is it calculated? What is it used for? Does it have any limitations? In this video, I will discuss these questions with you.