TeachMeFinance.com - explain Consumer Price Index (CPI)
Consumer Price Index (CPI) The term 'Consumer Price Index (CPI)' as it applies to the area of energy can be defined as ' These prices are collected in 85 urban areas selected to represent all urban consumers about 80 percent of the total U.S. population. The service stations are selected initially and on a replacement basis, in such a way that they represent the purchasing habits of the CPI population. Service stations in the current sample include those providing all types of service (i.e., full, mini, and self service)'.
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