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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Q What factors are considered in calculation of the CPI? Explain your answer. Where would you find data on CPI and PPI for the United States? What does the current level of inflation tell you about the state of the U.S. economy?

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CPI or Consumer Price Index can be defined as the measurement that indicates the average price paid by the urban consumers for a fixed market basket of the goods and services. The CPI is being routinely measured by the Bureau of Labor Statistics (BLS). To measure the CPI the BLS first defines a CPI market basket that includes housing, transportation, food, medical care, and education among many other components. Then they calculate the total cost of