The most common type of market basket is the basket of consumer goods used to define the Consumer Price Index (CPI). This is intended to track the prices of consumer goods and services; that is, it is a sample of goods and services, offered at the consumer market.
The list used for such an analysis contains a number of the most commonly bought food and household items. The variations in the prices of the items on the list from month to month give an indication of the overall development of price trends.
- Market basket analysis - a distinct concept in data mining involving the analysis of items frequently purchased together.