Economy

‘India’s retail inflation likely accelerated in Nov. to 5.1%’

·         The change in the consumer price index over a period of time is referred to as CPIbased inflation, or retail inflation.

·         The CPI is an index measuring retail inflation in the economy by collecting the change in prices of most common goods and services used by consumers.

·         The CPI is calculated for a fixed list of items including food, housing, apparel, transportation, electronics, medical care, education, etc.

     ·         The CPI specifically identifies periods of deflation or inflation for customers in their daily living expenses.

     ·         The CPI is used as a: macroeconomic indicator of inflation; Tool by the central bank and government for inflation targeting and for inspecting worth stability; and deflator within the national accounts.

   ·         Consumer price index in india|Bharat|Asian country|Asian nation} In India, there area unit four client price index numbers, that are calculated, and these are as follows: CPI for Industrial employees (IW) CPI for Agricultural Labourers (AL) CPI for Rural Labourers (RL) and CPI for Urban Non-Manual employees (UNME) The Ministry of Statistics and Program Implementation collects CPI (UNME) information and compiles it however the remaining 3 are collected by the Labour Bureau within the Ministry of Labour.