Aggregate expenditure method, Basic Statistics

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Problem

Construct a consumer price index for the information given by using  (i) Aggregate expenditure method, (ii) Family budget method.

Commodities

Quantity 2007(Q0)

Unit

P0

P1

2007

2008

A

7

quintal

300

310

B

5

quintal

305

308

C

4

quintal

416

419

D

9

quintal

530

625

E

3

kg

18

23

F

5

quintal

1050

1070

  1. Formulas
  2. Calculation
  3. Solution to the problem/ Interpretation

 

 


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