If your income increases from Rs19,000 to Rs31,000 while the Consumer Price Index (CPI) rises from 122 to 169, how has your standard of living most likely changed?

Choose the correct answer

Explanation

Given that your income has increased proportionally more than the rise in the CPI, your purchasing power has improved, indicating that your standard of living has likely risen.

If your income increases from Rs19,000 to Rs31,000 w… — Inflation & Productivity | PakQuizHub