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measures of Econ performance
2.1.2- Inflation
part b- calculating rate of inflation CPI
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Cards (7)
how is CPI calculated?
similar way to RPI but 3 differences
what isn't measured in CPI?
Council tax
,
mortgage interest payments
a
larger sample
of
population
used for
CPI
what is the difference between CPI and RPI?
CPI little lower than RPI- exception is when I.R very low
What trend does CPI follow?
Long-term trend
what is CPI?
official
measure of
inflation
in
the UK
how is CPI used for international comparisons?
many other countries collect data
on
inflation
in a
similar way to CPI
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