Bread basket or a basket of goods in relation to inflation is used to describe a fixed set of consumer goods which are periodically valued on a monthly or annual basis.
In ascertaining the basket of goods, the Consumer Price Index (CPI) is used.
This is a measure that elucidates the weighted average of prices of a basket of consumer goods and services which may include transportation, food, and medical care.
This is calculated by ascetaining the average of the prices of each item price in the predetermined basket of goods.
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