1) Does not take under account the quality of products mentioned
2) Does not consider new products, recently introduced in the market
should be a few more as well
Many countries measure the rate of inflation using the retail price index (RPI). This is an index which aims at measuring the change in the average price of the basket of goods and services that represents the consumption patterns of a typical household. Hence it is a mean to measure inflation.
Price Index
Retail sales: Growth Growth Domestic Product: Activity Consumer Price Index: Inflation Unemployment Rate: Inactivity
producer price index
It is called the consumer price. It may also be called the retail price.
The retail price index or RPI for September 2008 is 5.0 and the CPI is 5.2
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Many countries measure the rate of inflation using the retail price index (RPI). This is an index which aims at measuring the change in the average price of the basket of goods and services that represents the consumption patterns of a typical household. Hence it is a mean to measure inflation.
by taking a basket of stuff and measuring the inflation
Cathy Conners has written: 'Retail price index'
i am told it is -1.4 I therefore cannot receive a rise in my personal pension
The index number in economic terms refers to an economic data figure reflecting price or quantity compared with a standard or base value. The best known index number is the consumer price index, which measures changes in retail prices paid by consumers.
As a wholesale dealer, you can sell the car for any price the market will bear. Be that wholesale price, up to retail and even higher. Bascially you are a used car dealer, and not a retail dealer as in a manufacture dealership. There is no limitation on the price you can sell a car for other than the free market system. Supply and demand.
Price Index
The retail price is what the shopkeeper charges the customer. For instance, apples on sale in a greengrocer will have a price label on them, that price label shows the retail price.
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Retail sales: Growth Growth Domestic Product: Activity Consumer Price Index: Inflation Unemployment Rate: Inactivity