Question

True or false: when one calculates a single rate of inflation using the cpi for "all items," it does not necessarily mean that all categories of goods and services experienced the same rate of price change over that period.

Answer 1

True.

The consumer price index (CPI) is a measure of the overall costs and is an average, so the inflation on some goods and services will be higher and some will be lower than the average.

Answer 2

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The statement is true

=》when one calculates a single rate of inflation using the CPI for all items. it does not necessarily mean that all categories for Goods and services experienced the same rate of price change over that period.