Consumer price index (CPI)1

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The consumer price index (CPI) is a measure for the average change in price of a basket of consumer goods and services of fixed quality and quantity. The CPI is often referred to as the “Cost-Of-Living Index” but that is not quite right. Whereas the COLI does reflect substitutions as a result of changes in relative prices, in taste, and other causes, the CPI does not. Suriname’s CPI basket contains 316 items, with prices being checked in Paramaribo &Wanica (about 170 measuring points), Nickerie, including Wageningen (about 115 measuring points), Coronie&Saramacca (about 105 measuring points), Commewijne (about 120 measuring points) and Para (about 120 measuring points), which adds up to about 630 measuring points.