Your Questions About Price On Diamonds
Donna asks…An increase in the price of diamonds will have a greater impact?on the CPI than an equal percentage increase in the price of food because diamonds are so much more expensive.
a. True
b. FalseBarry answers:Yes, that is correct.
The CPI stands for 'Consumer Price Index' and is an index of a basket of goods the typical consumer purchases(food, gas, a bit of rent, clothes, people magazine). Taking a base year, this index is set at 100. If there is inflation, then the price of