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What is a key indicator of inflation?

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Question: What is a key indicator of inflation?

Options:

  1. Unemployment rate
  2. Consumer Price Index (CPI)
  3. Gross Domestic Product (GDP)
  4. Interest rates

Correct Answer: Consumer Price Index (CPI)

Solution: 

The Consumer Price Index (CPI) is a key indicator used to measure inflation by tracking changes in the price level of a basket of consumer goods and services.

What is a key indicator of inflation?

Practice Questions

Q1
What is a key indicator of inflation?
  1. Unemployment rate
  2. Consumer Price Index (CPI)
  3. Gross Domestic Product (GDP)
  4. Interest rates

Questions & Step-by-Step Solutions

What is a key indicator of inflation?
  • Consumer Price Index (CPI) – The CPI measures the average change over time in the prices paid by consumers for a market basket of goods and services, serving as a primary indicator of inflation.
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