The consumer price index (CPI) measures changes in consumer prices within a country. The year-on-year (YoY) growth of CPI represents the percentage change in consumer prices over the course of a year.
An increase in the YoY CPI indicates rising prices for goods and services paid by consumers, while a decrease suggests declining prices. This data is crucial for understanding inflation or deflation trends and serves as a key reference for economic and monetary policies.
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