Consumer Price Index serves as indicators of inflation and reflects changes in the cost of acquiring a fixed basket of goods and services by the average consumer.  Weights are usually derived from consumer expenditure surveys and the CPI base year refers to the year the weights were derived.  It is recommended that the base year be changed periodically to reflect changes in expenditure structure.
CPI base year
Consumer Price Index serves as indicators of inflation and reflects changes in the cost of acquiring a fixed basket of goods and services by the average consumer.  Weights are usually derived from consumer expenditure surveys and the CPI base year refers to the year the weights were derived.  It is recommended that the base year be changed periodically to reflect changes in expenditure structure.
1 Point. Annual chain linking. 0.5 Points. Base year in last 10 years. 0 points. Otherwise
Consumer Price Index serves as indicators of inflation and reflects changes in the cost of acquiring a fixed basket of goods and services by the average consumer.