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What changes in the cost of living figures of 2018

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Reference no: EM132853121

An enquiry into the budgets of middle class families in India gave the following information.

Expenses on Food (50%) Rent (15%) Clothing (5%) Fuel (10%) Other (20%)

Price in 2017 150 50 100 20 60

Price in 2018 180 70 150 40 120

respectively in order.

What changes in the cost of living figures of 2018 had taken place as compared to 2017? If an employee's salary was Rs. 4000 per month in 2017 and became Rs.5000 in 2018, is the increase in salary adequate to justify the increase in cost of living index? If not what addition in salary is required?

Reference no: EM132853121

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