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Consumer Price Index
A consumer price index measure changes in the price level of market basket of consumer goods and services purchased by households. The aim of this paper is to present a personalized Price Index and to show changes in prices of goods and services. Prices for this assessment are taken from the online shop Amazon.com because it is possible to track down the prices for a few years. The following products are included in market basket:
• Laffy Taffy Candy Jar, Banana (1 pack = 145 peaces) = $13.54, $13.93, $9.97 from 2015 to 2017, respectively
• Pacific Foods Organic Roosted Red Pepper and Tomato Soup (1 box =12 packs) = $19.94, $20.91, $20.27 from 2015 to 2017, respectively
• Potato Chips Cape Cold Original (1 pack) = $2.73, $2.89, $2.88 from 2015 to 2017, respectively...
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