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Doctors Medicines MCQs Q&A

  1. Consumer Price Interest
  2. Consumer Price Index
  3. Customer Price Index
  4. Customary Price Index
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1 Answers

Option 2 : Consumer Price Index

The correct answer is Consumer Price Index.

  • The consumer price index (CPI) is a detailed measure used for the estimation of price changes in a basket of goods and services representative of consumption expenditure in an economy.
  • Various consumption items have been classified into categories like Food and beverages, Pan and tobacco, Clothing, etc, and on the basis of consumer categories like urban, rural, and combined. The final overall index of the price is then calculated based on these categories.
  • The CPI is released by The National Statistical Organisation (NSO), Ministry of Statistics, and Programme Implementation.
  • The CPI for every month is released in the succeeding month.
  • CPI is used to measure Inflation. The percentage change in this index over a period of time gives the amount of inflation over that specific period, i.e. the increase or decrease in prices of a basket of goods or services consumed.
  • National Statistical Organisation (NSO) was formed by the merger of the National Sample Survey Office (NSSO) and the Central Statistics Office (CSO) by an order dated 23 May 2019.
  • NSO releases a variety of reports on the environment (ENVI-stats), education, and unemployment. industrial production, GDP estimation, etc.
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Related Questions

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