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economic forecasting summary

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Below is the article summary. For the full article, see economic forecasting.
Inflation and the CPI
consumer price index Summary
A consumer price index (CPI) is a measure of living costs based on changes in retail prices. Such indexes are generally based on a survey of a sample of the population in question to determine which goods and services compose the typical “market basket.” These goods and services are then priced
Wholesale price indexes for United States, Great Britain, Germany, and France, 1790–1940.
price index Summary
Price index, measure of relative price changes, consisting of a series of numbers arranged so that a comparison between the values for any two periods or places will show the average change in prices between periods or the average difference in prices between places. Price indexes were first