Take five goods or services used by your family and construct a Consumer Price Index for your family based on these five goods or services.
1 | 2 | 3 | 4 = 2*3 | 5 | 6 | 7 = 5*6 |
Goods/Service | Last month’s price this month (Rs.) | Last month’s quantity | Expenditure last month (Rs.) | This month’s price (Rs.) | This month’s quantity | Expenditure this month (Rs.) |
Milk | 20 | 15 litre | 300 | 22 | 15 litre | 330 |
Petrol | 80 | 6 litre | 480 | 72 | 6 litre | 432 |
Rice | 50 | 30 kg | 1500 | 46 | 35 kg | 1610 |
Medicine | 100 | 2 nos | 200 | 105 | 2 nos | 210 |
Mobile services | 159 | 3 nos | 447 | 229 | 3 nos | 687 |
Total expenditure | 2927 | Total expenditure | 3269 | |||
CPI: 342/2927*100 = 11.68% | ||||||
By how much has your total expenditure changed compared to last month? 3269-2927 = 342 | ||||||
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