Q. With reference to the Consumer Price Index (CPI) consider the following statements:
1.CPI basket includes outdated items which have minimal significance in the overall CPI calculation.
2.India has a significant weightage of food in the CPI compared to other developed countries.
Select the correct statements using the codes given below:
Answer: C
Notes:
Explanation –
Statements 1 and 2 are correct. CPI basket includes outdated items which have minimal significance in the overall CPI calculation, e.g., torches, radios, tape recorders, CDs, etc. India still has a significant weightage of food in the CPI compared to other developed countries.
Source: ForumIAS