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Name the consumer groups for which consumer price index number is computed in India.
In India, the consumer price index are mainly constructed for the following consumer groups:
1.Industrial workers.
2.Urban-non manual employees.
3.Agricultural labourers.
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State the two types of price index numbers.
1. Consumer price index or cost of living index number.
2. Wholesale price index number.
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What is the other name of the consumer price index?
The other name of the consumer price index is price deflater of income.
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Define price index number.
Price index number is that number measures and permits comparison of the prices of certain goods.
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What do inflation and deflation refer to?
Inflation refers to increase in prices and deflation refers to decrease in prices.
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