The Consumer Price Index (CPI) is the best measure reflecting an increasing price level swiftly.
Consumer Price Index (CPI) is likely to reflect an increasing price level the fastest among the options provided. The CPI measures the prices of goods and services purchased by households, making it a reliable indicator of inflation impacting households.
The GDP deflator, on the other hand, includes prices of many products not purchased by households, hence might not capture changes in consumer prices as swiftly as the CPI.
When analyzing inflation and price levels, the Consumer Price Index (CPI) is a key measure that focuses on typical consumer spending patterns.
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